The Justice Department has reached a settlement with the family of a former government official in the Republic of Armenia to recover a Los Angeles mansion purchased with funds provided by an Armenian businessman, the agency said Monday.
The sons claimed that the funds were provided as loans by the businessman, while the US alleged the loans, which were repeatedly extended without repayment, were covers for bribe payments.
The settlement requires the mansion be forfeited to the United States. The US will then sell the property at the highest obtainable market price and retain 85% of the net proceeds ...
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