Investigation of money laundering incident in Georgia, opposition parties seeking potential Russian involvement
In a significant development, the Georgian prosecutor's office has announced the arrest of an individual accused of laundering a staggering 624 million dollars and 35 million euros between 2022 and 2024. The identity of the arrested individual has not been officially disclosed, but TV channel Pirveli claims it is Kakha Kotorashvili, the director of the company Fini.
The alleged money laundering activities took place primarily in Tbilisi, Georgia. According to investigators, the suspect regularly brought foreign currency of undocumented origin into the country, using hidden compartments in vehicles to bypass customs checks. The funds were then channelled into a currency exchange office owned by the suspect, before being converted and channelled into the legal economy.
Investigators say the detainee also deposited foreign currency obtained in this way into banks, presenting it as legitimate income and providing false documents to prove its origin. This raises questions about the potential role of commercial banks in the money laundering activities. One of Lelo's founders, Mamuka Khazaradze, is also a co-founder of TBC Bank, one of Georgia's largest commercial banks. His involvement in TBC Bank may raise questions about the bank's potential role in money laundering activities.
The opposition and political analysts suggest a possible Russian influence or connection to the money laundering case in Georgia. The opposition believes the foreign currency involved in the case originated from Russia. Salome Samadashvili, an opposition MP from the Lelo party, states Bidzina Ivanishvili, the founder of the ruling Georgian Dream party, turned Georgia into a laundromat for dirty Russian money. Gia Khukhashvili, a political analyst, suggests the Georgian government was aware of the money laundering activities. He accuses the government, National Bank, and commercial banks of being responsible for laundering an unprecedented volume of Russian money in Georgia.
However, no information is provided about the possible Russian connection to the money laundering case. The opposition MP Salome Samadashvili's comments imply a connection between the ruling Georgian Dream party and money laundering activities. The allegations made by the opposition and political analysts suggest a possible Russian influence or connection to the money laundering case in Georgia.
The search results do not provide information about who filed the money laundering charges before the arrest. Pirveli TV suggests that the detainee, believed to be Kakha Kotorashvili, and his company were only intermediaries, while the money may have belonged to someone else. Khukhashvili claims the money laundering was 'Russia's economic expansion through black money' and a successful operation of the FSB.
Money laundering on such a scale carries a prison sentence of up to 12 years in Georgia. The case is currently under investigation, and further details are expected to be released in due course.
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