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Armenia parliament votes to outlaw unexplained wealth

Armenia parliament votes to outlaw unexplained wealth

PanARMENIAN.Net - The Armenian National Assembly on its second and final reading unanimously approved a law on the criminalization of illicit enrichment.

All the 100 lawmakers voted in favor of the new bill.

Prime Minister Karen Karapetyan in early November instructed Justice Minister Arpine Hovhannisyan to introduce a bill on the criminalization of unexplained wealth to help combat corruption.

The law stipulates that those illegally enriched officials whose increase of capital and/or reduction in commitments unreasonably exceed their legitimate income, will be imprisoned for three to six years.

The law will come into effect beginning July 1, 2017.

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