Document reveals ex-Government Minister owned company with a multimillion flow (Infographics)
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A document prepared by international audit company Deloitte Limited, revealed the income and the extent of ex Minister of Defense David Kezerashvilis business. The scandalous letter, published today in Georgian newspaper Alia, showed the former high official was the sole beneficial owner of the FPC Group, registered in an offshore zone. The turnover of the company in the year it established, 2009, was almost 9 million USD and increased to more than 795 million USD in 2012.
The property declaration, which he filled out as the Minister of Defense in 2008, one year before starting this business, showed only an apartment in Tbilisi, 108 sq.m and 51000 GEL ($28600 USD) in his bank account.
"Since FPC Group started its operations in 2009, its turnover had amounted to $8,703,228 USD in 2009 (per the unaudited financial statements), and increased to $103,311,883 USD in 2010. This further increased to $504,475,098 USD in 2011 and to $795,245,102 USD in 2012.
"Its profits before tax have gradually increased from $5,098,398 USD in 2009, $28,140,762 USD in 2010, $46,959,090 USD in 2011 and to $51, 648, 128 USD in 2012, said the Deloitte Limited report about the financial flows of Kezerashvilis company.
"FPC Group offers exclusive trans-shipment services to the oil industry in the region and internationally (Railway Transportation, Terminal Handling and Throughput, coupled with extensive state of the art storage facilities) for light petroleum products and petrochemicals originating from Turkmenistan, Kazakhstan and Azerbaijan, and delivered to the Poti, Batumi and Kulevi Oil Terminals in Georgia, states the document from Deloitte Limited.
"The FPC Group also operates a retail petrol station network in Georgia, through one of its subsidiaries Sun Petroleum Georgia, which owns and operates the largest retail network in Georgia, with over 120 branded petrol stations, operating under the world renowned name of GULF Oil International.
The newspaper Alia stated that it is ready to provide the Prosecutor's Office with the original document.
Georgias former Minister of Defense and Head of Financial Police Davit Kezerashvili was named on the Interpol wanted list before he was arrested on October 10, 2013, in France. However he has not been extradited to Georgia, yet. Kezerashvili is accused of bribe-taking, violating Georgian transport rules, in relation to large amount of movable items, and illegal money laundering.
According to the investigation, in the form of tax evasion, the state has lost 49 million USD, while Kezerashvili is believed to have received an income of 12 million USD. He also faces charges in the Tbilisi City Court of alienating TV Imedi in 2008 and Rike, exclusive territory on the Mtkvari river bank in Old Tbilisi.
On January 23, a French court is expected to discuss the extradition of Kezerashvili.
See details about Future Products Company in info-graphics below.
A secret letter to French authorities, written by the former ruling party asking for the release of Georgia’s ex-Defence Minister, has been exposed.
"Very serious and scandalous information is being spreading about Kezerashvili," says Georgian Prime Minister Irakli Garibashvili.
Former Georgian President Mikheil Saakashvili urges the French courts to recognize the case against ex-Defence Minister Davit Kezerashvili as politically motivated.
The United National Movement has confirmed the letter to French authorities to release Georgia’s ex-Defence Minister is authentic.
Furthermore, a "preposterous accusation” of Kezerashvili being involved in arms trade is not the reason why he is detained in France, they said.
Georgia’s ex-Defence Minister is set to appear in a French court of law today, where authorities will discuss his extradition.
French authorities decided to keep David Kezerashvili in custody during a hearing in a French court of law. The court held its first session to discuss Kezerashvili’s extradition to Georgia yesterday.
Georgia’s ex-Defence Minister David Kezerashvili remains in prison in France.
Georgia’s ex-Defence Minister David Kezerashvili has been released from custody in France on the condition he must wear an electronic monitoring bracelet for six months, Georgia's Chief Prosecutor's Office has revealed.
This decision was made this afternoon by a French court, despite Kezerashvili being wanted in Georgia and facing multiple criminal charges including corruption.
Georgia’s ex-Defence Minister David Kezerashvili, who is internationally wanted by Interpol, is facing a new charge of embezzling more than €5 million (12 million GEL).
Former Georgian Defence Minister David Kezerashvili, who is internationally wanted by Interpol, has been found not guilty of bribing Government officials and smuggling large volumes of alcohol into Georgia.
Charges against two former officials of ex-President Mikheil Saakashvili’s government have been intensified.
Prosecutor’s Office lays charges against Kezerashvili
The Chief Prosecutor’s Office has laid charges against Georgia’s former Defence Minister Davit Kezerashvili for extortion of property.
Tbilisi City Court has imposed pre-trial detention on Georgia’s former Minister of Defence David Kezerashvili while he faces charges for extortion of property.