The Prosecutor’s Office of Georgia has uncovered the operations of a transnational criminal group and launched criminal proceedings against four foreign nationals and five legal entities on charges of particularly large-scale money laundering.
Beka Kvitsiani, Deputy Head of the Investigation Department of the Prosecutor General’s Office of Georgia, stated that investigators established the defendants committed crimes across several countries to generate illegal profits, subsequently transferring the assets to Georgia to legitimize the proceeds.
According to the agency, the accused registered companies in Georgia without intending to conduct actual business activities. Using forged documents and fictitious grounds for wire transfers, they eventually transferred funds of illegal and unverified origin in various currencies equivalent to 21.5 million GEL from abroad into personal and corporate bank accounts in installments.
A small fraction of the funds transferred to Georgian bank accounts was subsequently rerouted to various bank accounts abroad, but the bulk of the assets was seized during the investigation.
«Criminal proceedings have been initiated against the defendants for the legalization of illicit income on a particularly large scale. This crime carries a sentence of 9 to 12 years’ imprisonment for individuals, and liquidation, revocation of the right to carry out business activities, and a fine for legal entities.
Within the period prescribed by law, the Prosecutor’s Office will petition the court to impose pre-trial detention as a preventive measure against the accused. If the motion is granted, they will be placed on a wanted list.
As part of the investigation, foreign currency equivalent to approximately 14 million GEL was seized, alongside real estate valued at over 1 million GEL. The Prosecutor’s Office will carry out the necessary legal procedures to forfeit these assets to the state.
We remind the public that the fight against money laundering is one of the primary priorities of the Prosecutor’s Office of Georgia. A strict criminal policy is enforced against individuals who commit such crimes,» Kvitsiani stated.