Investigative Service Personnel Identify 15 Illegal Currency Exchange Offices

Personnel from the Investigative Service of the Ministry of Finance of Georgia have identified 15 illegally operating currency exchange offices in the Adjara, Samegrelo, and Shida Kartli regions.

"The investigation established that these offices were conducting operations without the requisite permit from the National Bank of Georgia and in violation of statutory requirements.

Based on a court order, searches were conducted at 15 locations; large amounts of Georgian and foreign currency, computer equipment, and relevant inventory were seized.

The total value of the seized currency exceeds 356,000 GEL. As a result of the measures taken, criminal proceedings have been initiated against 16 individuals, nine of whom have been arrested.

Investigative actions are actively underway to identify other individuals involved in these criminal activities," the Investigative Service stated. The investigation is proceeding under Article 192, Part 1 and Part 2, Subparagraph "b" of the Criminal Code of Georgia, which provides for a penalty of imprisonment for a term of three to five years.