The General Prosecutor’s Office of Georgia issued an order to bring charges of legalizing illegal funds worth over $16.75 mln to founder and ex-head of supervisory board of the country’s largest TBC Bank Mamuka Khazaradze and his deputy Badri Dzhaparidze, the General Prosecutor’s Office said on Wednesday.
“The order was issued to bring charges against Mamuka Khazaradze and Badri Dzhaparidze of legalizing unlawful revenues worth over $16.75 mln by a group of persons, coupled with deriving revenues in a particularly huge amount,” the statement says.
According to the General Prosecutor’s Office, Khazaradze and Dzhaparidze were called to the office for formal presentation of charges.
The criminal case was opened under the article of “legalization of illegal revenues (money laundering) committed by group of person, coupled with deriving revenues in a particularly huge amount,” punishable by custodial restraint for the period from nine to twelve years.
It was reported earlier that the prosecutor’s office is investigating a transaction of TBC Bank dated 2008 in respect of laundering $17 mln. Khazaradze and Dzhaparidze had to step down from their office under pressure of the National Bank of Georgia.
Khazaradze earlier announced the intention to create a political movement and take part in forthcoming parliamentary elections of 2020.