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10 January, 2019 10:21

Statement of the Office of the Prosecutor General of Georgia

Financial Monitoring Service started studying financial activities of TBC Bank, its customer legal persons, bank administrators and certain shareholders in May 2018, and arrived at the conclusion that in this activities clearly showed the characteristics of legalization of illegal income, i.e. money laundering, and other illicit acts.

The said materials were forwarded to National Bank of Georgia and the Prosecutor’s Office of Georgia for further response.

National Bank studied the matter within its competence and responded to uncovered violations in an appropriate manner.

As for the Prosecutor’s Office of Georgia, it launched investigation into a criminal case of legalization of illegal income on August 2, 2018, the offense punishable under Article 194§3(c) of the Criminal Code of Georgia.

Investigation has revealed that Samgori Trade LLC and Samgori M LLC received 17 million USD In total as a loan from TBC Bank in April and May 2008, without any security and through accelerated procedure. As soon as the loaned funds were credited in the accounts of the companies, Mamuka Khazaradze and Bardi Japaridze borrowed the same amount which TBC Bank had lent to the aforementioned companies for the purpose of financing working capital. By the end of the year of 2008, TBC wrote off the said loans without any grounds and earlier than stipulated by banking regulations and moved them to external balance account while in 2012, even exempted these companies from the liabilities they owed the bank, when agreed to transfer theses liabilities to an offshore company.

Interestingly, loans of Samgori Trade LLC and Samgori M LLC were written off in such manner that these companies have not paid any commissions and these loans have not been repaid to the bank. Furthermore, Mamuka Khazaradze and Badri Japaridze have yet to repay the loan to Samgori Trade LLC and Samgori M LLC.

A number of investigative and procedural activities have been carried out in course of investigation, individuals involved in the matter, including Mamuka Khazaradze, have been interviewed. At this stage of investigation, it could be necessary to obtain and study additional documentation and information in order to thoroughly investigate the alleged criminal acts, to which end the Office of the Prosecutor General of Georgia has petitioned Tbilisi City Court to request information from JSC TBC Bank. The petitions granted by the Court were served upon the JSC TBC Bank for their execution. Considering the interest of the public interest in the case, the Office of the Prosecutor General will keep the society posted on the progress of the investigation.

Procedure of selling “Omega’s Property” at auction is terminated – Zaza Okuashvili has won the case against the Georgian Government

17 April, 2019 , 11:00

Zaza Okuashvili won the court case against the Georgian government. According to the decision of Stockholm arbitration tribunal selling the property of “Omega Group” at auction is terminated. The main argumen

Downloading, saving or disseminating any information publicly posted on the Internet can not be punishable- Zurab Japaridze

13 March, 2019 , 12:06

The political party "Girchi" considers the absurd sentencing to 4 to 7 years of imprisonment for keeping personal information published in public space or sending it to a relative. This article of the law has already bee

Money Laundering Scandal - opposition requests investigation of alleged criminal union of Dreams` MP`s son and Cartu Bank

11 March, 2019 , 12:25

"Cartu Bank" Scandal and Money Laundering Scheme - The opposition demands investigation of links between Shota Shalelashvili and the bank". It is about the scheme, according to which the MP"s son kept the money stolen f

Case launched ten years after - founders of TBC Bank could be charged

10 January, 2019 , 10:17

The founder of TBC Bank may be charged. The case is about laundering of 17 million. The Prosecutor"s Office confirms that collecting evidence on the 10-year-old case is actively underway. Mamuka Khazaradze, Badri Japarid

The Prosecutor General`s Office confirms that the investigation into TBC Bank is underway

10 January, 2019 , 10:07

The Prosecutor General's Office confirms that the investigation into TBC Bank is underway. According to the first channel, the Prosecutor General’s office seized certain documentation from the mentioned bank. "We c

International Society is interested in details of bloody special operation in Pankisi - EMC meets diplomats

11 December, 2018 , 14:06

The international community is interested in the details of the bloody special operation in Pankisi - EMC will inform today diplomatic corps about all the unanswered questions related to murder of Temirlan Machalikashvil

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