Back

Hot News

Today's Calendar

Announcement

Archive

Justice

10 January, 2019 10:21
font-size

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.

The court forbade businessman Arsen Kutaladze’s business partners to sell their shares - “Young Barristers”

24 October, 2023 , 16:27

The Civil Cases Panel of Tbilisi City Court satisfied the request of businessman Arsen Kutaladze’s (primary owner of restaurant “Urmuli”) family and forbade the three companies and their current owners

ECHR rules Russia to compensate Georgia 129 million Euros

28 April, 2023 , 15:11

The Strasbourg-based European Court of Human Rights (ECHR) passed its judgment on Georgia vs. Russia case based on which Russia has to pay 129 million Euros to Georgia. The case concerned allegations by the Geo

The court will resume hearing on the case of the young composer, in which the father requests that the children be taken away from their grandmother for 9 months - `Young Barristers`

8 June, 2022 , 23:41

The Administrative Cases Panel of the Tbilisi City Court will resume the legal processes in the case of the young composer on June 9, 2022. The issue in question is the separation of minor children and the granting of a

By the order of Giorgi Kupreishvili, the court decision was falsified, and the supreme court has revealed the fact and stopped the execution

11 February, 2022 , 16:26

The organization "Young Barristers" continues to provide new facts and circumstances to the public assistance agency of victims of state care and trafficking. The organization publicly makes an unbelievable case in what

Georgia is a great and important partner to the US - Adam Kinzinger

12 February, 2021 , 14:55

“The nation of Georgia is a great and important partner to the United States, serving on the front line of freedom against Russian aggression,” Congressman Adam Kinzinger wrote on Twitter.   The co-chair

Georgia reports 469 coronavirus cases, 1 792 recoveries, 14 deaths

20 January, 2021 , 12:40

 Georgia reported 469 coronavirus cases, 1 792 recoveries, and 14 deaths on Wednesday, the Interagency Coordination Council representative, Berdia Sichinava announced.   Georgian capital Tbilisi recor

Live TV

daily calendar

video gallery

Omega Motors opens BMW and MINI dealership center in Batumi