Why the U.S. Wants to Seize a Los Angeles Mega-Masnion – Los Angeles

Federal authorities want to seize a Holmby Hills mega-mansion that is located in Los Angeles.

Investigators believe that the property measuring 33,652 square feet was bought with millions of dollars in bribe money from Hugh Hefner and his sons.

Thursday’s statement by the U.S. Department of Justice revealed that the house was purchased in 2011 for $14.4 million by a trust created on behalf of Gagik Khaachatryan (66) and his sons. All three are facing criminal charges in Armenia.

It is not known if they have an attorney who can comment on the allegations.

The Justice Department stated that Khachatryan was the chair of the State Revenue Committee of the Republic of Armenia between 2008 and 2014, as well as the minister of finance for the Republic of Armenia between 2014 and 2016. According to the Los Angeles Court complaint, Khachatryan and his family were accused of receiving bribes totaling more than $20M for favorable tax treatment.

Some of these payments were used to purchase the Holmby Hills home on South Mapleton Drive, in the hills above Los Angeles’ Westside. The government claims that the property was illegally purchased using proceeds from an offense against foreign nations involving bribery.

Khachatryan was the “The One” “Super Minister”Due to his many responsibilities.

The French Normandy-inspired estate boasts 11 bedrooms and 26 full baths. There is also a pool, wine cellar and home theater. A real estate listing.

According to the federal complaint the asking price for the property was $63.5million.


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