Prosecutor's Office Initiates Criminal Prosecution Against Four Foreign Citizens and Five Legal Entities on Money Laundering Charges

The Prosecutor's Office of Georgia has opened transnational crimes and initiated criminal prosecution against four foreign citizens and five legal entities on charges of laundering particularly large amounts of money.

Deputy Head of the Investigation Department Beka Kvitsiani stated this at a briefing held at the Prosecutor's Office.

“The investigations conducted by the Investigation Department of the Prosecutor General’s Office of Georgia established that the defendants committed crimes in various countries in order to obtain material benefits and transferred assets to Georgia in order to launder illegal income.

In order to launder money, without the intention of real entrepreneurial activity, the defendants established enterprises in Georgia and, using forged documents and indicating fictitious purposes, transferred the equivalent of 21.5 million GEL of illegal and unsubstantiated origin in various currencies from abroad to the bank accounts of individuals and legal entities.

Also, in order to launder money, a small part of the accumulated funds in their Georgian bank accounts was transferred abroad to various bank accounts with fictitious purposes and using forged documents, while the main part of the illegal assets was seized within the framework of the ongoing investigation.

Criminal charges against the defendants Legal prosecution has been initiated for the fact of legalization of illegal income in a particularly large amount, which provides for imprisonment for a term of 9 to 12 years for individuals, and liquidation or deprivation of the right to conduct business and a fine for legal entities.

The Prosecutor's Office will apply to the court within the time limit established by law for the imposition of imprisonment as a preventive measure for the accused, and in case of imprisonment, a wanted notice will be issued against them.

The Prosecutor's Office will conduct appropriate legal procedures to seize the foreign currency equivalent of approximately 14 million GEL and real estate worth more than 1 million GEL seized within the framework of the investigation in favor of the state.

We would like to remind the public that the fight against money laundering is one of the main priority areas of the Prosecutor's Office of Georgia, and a strict criminal law policy is being implemented against the perpetrators of the aforementioned crimes," - Beka Kvitsiani said.