Henceforth, illegal possession by a person of property accidentally or mistakenly out of another person’s possession or lost and making it his/her own or someone else’s property who has known who the real owner of the property is and has not taken reasonable measures to return the property to the real owner shall be considered a crime.
Within the meaning of this article, the value of property owned by a person shall exceed the amount of the minimum salary. It can be punished with a fine or community service (public works), restriction of liberty, short-termimprisonment, or imprisonment.
The difference between this crime and the “found property” institution regulated by the Civil Code of the Republic of Armenia is that criminal liability does occur when the person who took possession of the “lost property” knew who the real owner of the property was and did not take reasonably necessary measures to return the property to the real owner.