Davit Manucharyan, who heads the Fourth Department of the General Directorate for the Investigation of Economic Crimes and Smuggling at Armenia's Investigative Committee, has been awarded the Prime Minister's Commemorative Medal. The award was presented at a ceremonial meeting marking the 12th anniversary of the Investigative Committee's establishment and Investigators' Day, which was also attended by Prime Minister Nikol Pashinyan.
The department headed by Manucharyan investigated the criminal case against Prosperous Armenia Party leader and businessman Gagik Tsarukyan, in connection with which he was arrested. This followed Pashinyan's public instruction to have Tsarukyan jailed.
According to his 2025 annual asset declaration, Manucharyan owns three properties. One is a plot of land in Vanadzor, which he purchased on December 17, 2010. Another is a residential house with outbuildings in Gugark, acquired on July 2, 2013. The third house is located in the Nairi community of Kotayk Province and is listed in the declaration as property acquired by other means on June 15, 2022.
In 2025, Manucharyan purchased a 2019 Toyota vehicle for AMD 5,661,150. The declaration also lists a 1987 GAZ vehicle, which he received as a gift on August 30, 2018. Both vehicles were still in his possession at the end of the year.
During the year, he received a salary of AMD 72,000 and an income tax refund of AMD 1,712,560 from Armenia's Ministry of Finance. He declared a salary of $424.73 from the United Nations and AMD 15,271,561 from the Investigative Committee. In addition, he received a loan of AMD 10 million from Amio Bank and another loan of AMD 15 million from Ameriabank. The total amount listed in the declaration is AMD 42,212,519.33, but this figure also includes loans, which are not earned income.
At the end of the year, his bank accounts held AMD 332,630.7, compared with AMD 137,888 at the beginning of the year. His cash holdings decreased from AMD 800,000 to AMD 500,000. The declaration also lists cash belonging to a third party but actually used or controlled by Manucharyan. That amount fell from AMD 750,000 at the beginning of the year to zero by year-end.
As of December 31, 2025, the outstanding principal on his loans totaled AMD 33,339,955.9. One of the loans was intended for real estate construction, and he allocated AMD 12,332,209.3 to loan repayments during the year.
Public officials' asset declarations make it possible to compare their assets, income and liabilities. However, interpreting the figures correctly requires distinguishing earned income from borrowed funds. The AMD 42.2 million listed in Manucharyan's declaration does not consist entirely of salary or other income; a significant portion represents loans from two banks. This distinction is crucial because the total figure alone does not reflect the official's actual financial position.
Another important consideration is the relationship between liabilities and assets. The declaration lists three properties, two vehicles and outstanding loan balances exceeding AMD 33.3 million, while more than AMD 12.3 million was allocated to loan repayments during the year. These figures describe part of his financial position but do not, by themselves, reveal the full market value of his assets or all the terms under which the liabilities arose. Given Manucharyan's involvement in the investigation into Tsarukyan's case, the figures in his declaration are of public interest. However, owning property or having loans is not, in itself, evidence of any wrongdoing.
