Georgian Prosecutor’s Office uncovers transnational crime network, charges four foreign citizens and five legal entities

The Prosecutor’s Office of Georgia has uncovered transnational crimes and has launched criminal proceedings against four foreign nationals and five legal entities on charges of transnational crime and money laundering involving particularly large amounts.

An investigation conducted by the Investigation Department of the Prosecutor General’s Office of Georgia established that, seeking material gain, the accused committed crimes in various countries and transferred assets to Georgia in order to launder illegally obtained proceeds.

For the purpose of money laundering, and without any intention of conducting genuine business activities, the accused established companies in Georgia and, using forged documents and indicating fictitious purposes, transferred from abroad the equivalent of GEL 21.5 million in various currencies of illicit and unexplained origin to the bank accounts of individuals and legal entities in a fragmented manner.

The investigation also revealed that, for the purpose of laundering illicit proceeds, a small portion of the funds accumulated in their Georgian bank accounts was transferred abroad to various bank accounts using fictitious descriptions and forged documents, while the majority of the illegal assets were seized as part of the ongoing investigation.

Criminal prosecution has been launched against the accused for the legalization of particularly large amounts of illicit income, a crime punishable by imprisonment for nine to 12 years for individuals, while legal entities may face liquidation, deprivation of the right to conduct activities, and fines.

The Prosecutor’s Office will apply to the court within the legally prescribed timeframe requesting pre-trial detention as a measure of restraint. If detention is granted, the accused will be placed on the wanted list.

The Prosecutor’s Office will undertake relevant legal procedures to confiscate for the benefit of the state approximately the equivalent of GEL 14 million in foreign currency and real estate worth more than GEL 1 million, which were seized during the investigation.

The Prosecutor’s Office reminds the public that combating money laundering is one of its key priority areas, and a strict criminal policy is being pursued against individuals involved in such crimes.