Armenian authorities have opened a new criminal case involving Serzh Sargsyan, the country’s third president, over a disputed real estate transaction dating back to 2004.

Sargsyan is connected to the sale of the Vana Lich Draht recreation facility in Aragatsotn Province at a price below its market value, according to Sputnik Armenia.

At the time, Sargsyan was serving as Armenia’s defense minister, and the property was on the Defense Ministry’s balance sheet.

The facility was sold to a private individual for $500,000, while its market value was assessed at $700,000 just one year after privatization.

The property was initially leased to the individual without proper legal or contractual grounds and was later transferred into their ownership for 115 million drams, equivalent to about $314,000 at the current exchange rate.

A criminal case has been initiated over the transaction. The allegations are part of broader legal proceedings involving Sargsyan; an Armenian court recently declined to dismiss another criminal case against the ex-president.