LOS ANGELES—The U.S. Department of Justice on July 8 announced it has reached a settlement to seize an 11-bedroom French chateau-style mansion in the Holmby Hills neighborhood worth $63 million that was tied to an Armenian political corruption scandal.
The mansion, formerly belonging to the family of Gagik Khachatryan, Armenia’s ex-minister of finance, will be forfeited to the United States government, which will sell the property to the highest bidder and retain 85 percent of the proceeds, according to the DOJ.
