Prosecutor’s Office launches investigation in Nana Keinishvili’s case at NBG’s written application

The Prosecutor’s Office of Georgia has launched an investigation in the case of board member of the National Bank of Georgia (NBG) Nana Keinishvili based on the statements of the executives of Bitexchange LLC sent by the National Bank on charges of unlawful participation in commercial activity by a senior official under Article 337 of the Criminal Code of Georgia.

“According to statements and accompanying audio recordings submitted to the National Bank of Georgia by the executives of Bitexchange, Nana Keinishvili, a member of the National Bank’s Board, is engaged in entrepreneurial activity and directly controls a network of enterprises subject to the National Bank’s regulation, with shares in these entities registered in the names of a family member and persons affiliated with her. According to the same statements, Nana Keinishvili also sought to acquire shares in an enterprise subject to National Bank regulations and thereby expand her business activities.

It is noteworthy that, based on the Law of Georgia On Fight against Corruption, a public official has no right to conduct enetpreneur activities. Furthermore, in accordance with the Organic Law of Georgia On the National Bank of Georgia, a member of theNBG Council and their family members are prohibited from being partners in a representative of the Georgian financial sector or a legal entity affiliated with such a representative.

“Currently, within the framework of the ongoing investigation, the circumstances surrounding the possible unlawful participation of Nana Keinishvili, a member of the NBG Board, in entrepreneurial activities will be examined, and the public will be further informed about the results of the investigation,” the Prosecutor’s Office said.

Parliament approved Keinishvili’s appointment to the governing board in September 2023, following her nomination by then-President Salome Zourabichvili.