Georgian businessman accused of complicity in laundering money with TBC Bank founders

22.08.19 14:00

Georgian businessman Avtandil Tsereteli has been charged as an accomplice in a money laundering case concerning the founders of TBC Bank Badri Japaridze and Mamuka Khazaradze, who have been charged with laundering $16,164,000.


Khazaradze and Japaridze were charged back in late July. Bail was set for both of them at 700,000 GEL ($238,468/€214,836) on July 26.


The Georgian Chief Prosecutor’s Office originally demanded bail be set at 1,000,000 GEL ($340,669/€306,909).


The Prosecutor’s Office says it has been looking into the possible money laundering case as far back as August 2018.


Avtandil Tsereteli will be charged with the offense at the Prosecutor’s Office of Georgia later today.


Both Japaridze and Khazaradze deny the charges against them.



source: AGENDA

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