Prosecutor’s Office charges foreign citizen in major money laundering case

The Georgian Prosecutor’s Office has launched criminal proceedings against a foreign citizen over the laundering of an especially large amount of money.

According to an investigation conducted by the Investigation Division of the Prosecutor General’s Office, the suspect allegedly used bank accounts opened with forged passports issued in the names of different countries to launder funds of unexplained origin.

The investigation established that approximately GEL 1.9 million worth of foreign currency was deposited into the accounts in multiple smaller transactions.

According to the Prosecutor’s Office, the funds, which were disguised as legitimate income, were subsequently transferred through multiple transactions to bank accounts controlled by the suspect and an associated individual in an effort to integrate the money into the financial system. Part of the funds was also invested in real estate.

The foreign citizen has been charged in absentia under Article 194, Part 3(c) of the Criminal Code of Georgia, concerning the legalization of illegal income in an especially large amount. The offense carries a sentence of up to 12 years in prison.

The Prosecutor’s Office said it would apply to the court within the legally prescribed period seeking pre-trial detention for the accused. If detention is imposed, the suspect will be placed on a wanted list.

The Prosecutor’s Office will also undertake the relevant legal procedures to seek the confiscation in favor of the state of the real estate seized within the investigation, as well as the funds held in the relevant bank accounts.