Georgian PM calls upon public to refrain from political speculations concerning TBC case
Georgian Prime Minister Mamuka Bakhtadze denies any connection with the TBC Bank case and the Anaklia deep sea port project. Photo: Prime Minister’s press office.
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Georgian Prime Minister Mamuka Bakhtadze has called upon the public to refrain from political speculations regarding the TBC Bank-related case, as the issue is not political.
Bakhtadze made the statement in the wake of the decision of the National Bank of Georgia earlier last week, which demanded the withdrawal of the head of the supervisory council of the Georgian leading TBC bank Mamuka Khazaradze and the deputy head Badri Japaridze from the council due to the money-laundering case involving the two.
Khazarade vowed a “fight for justice” and connected the “deliberate campaign” against TBC's leading role in the internationally important Anaklia deep-sea port project.
Unfortunately, we have heard only political speculations regarding the issue. This is not a political issue and if anyone has pretentions, they must provide genuine arguments,” Bakhtadze said.
He says that the National Bank of Georgia, which is a regulatory bank, makes decisions based on “very high professional standards.”
Bakhtadze said linking the case with the Anaklia project was “very bad speculation”.
The project was initiated by the Georgian Dream ruling party and we are doing our utmost for the timely implementation of the extremely important project. Using the topic for political speculations is absolutely irresponsible. Georgia needs the deep-sea port and will have it,” Bakhtadze said.
The opposition claims that it is in “someone’s interest” for the Anaklia project not to be carried out and the “negative campaign” around the founder of the bank could be related to this goal.
The Prosecutor's Office says that its Financial Monitoring Service launched a study of financial assets of TBC Bank, its client companies, bank administrators and particular shareholders in May 2018, which revealed that there were “signs of money laundering”.
The National Bank of Georgia (NBG) has demanded the withdrawal of the head of the supervisory council of the Georgian leading TBC bank Mamuka Khazaradze and the deputy head of the council Badri Japaridze from the council due to a money laundering case being investigated by the Georgian Chief Prosecutor’s Office.
Georgian Prime Minister Mamuka Bakhtadze spoke about the TBC Bank case at today’s press briefing, where he said that the questions raised in relation to any individual shareholder will not weaken the bank’s standing.
TBC Bank’s ambition to build the leading banking group in Georgia has become reality after it purchased another local bank, Progress Bank, initially founded by Georgia’s former Minister of Energy Kakha Kaladze.
Founders of the Georgian leading Bank TBC Mamuka Khazaradze and Badri Japaridze have met journalists in the afternoon amid the controversies related to the money laundering case involving the bank.
Founder of the Georgian leading bank TBC Mamuka Khazaradze has announced his resignation from the bank’s supervisory council amid a row related to a money-laundering case involving him and another top banker at TBC, Badri Japaridze.
The price of stocks of the Georgian TBC Bank, whose founder Mamuka Khazaradze announced his resignation earlier today, has started to increase.
Georgia’s Deputy Interior Minister Natia Mezvrishvili says that an investigation into the cyber threats against TBC Bank has been long underway. TBC Bank Founder Mamuka Khazaradze said he had informed the Interior Minister Giorgi Gakharia on the cyber-attacks against his bank as soon as his IT crew discovered the source of the attack.
TBC Bank founders Mamuka Khazaradze and Badri Japaridze have officially been charged with laundering $16.7 million in 2007-2008. Khazaradze says that the charge “aims to stop the construction of the Anaklia Deep Sea Port.”
Head of the board of directors of Tbilisi Bank Mamuka Khazaradze and his deputy Badri Japaridze, who founded the bank 27 years ago, have left their posts at the bank after being charged with laundering $16.7 million yesterday.
Independent international expert Pauline David, selected in open competition by Transparency International Georgia, says in her report released today that there is no basis to prove TBC Bank founders Mamuka Khazaradze and Badri Japaridze or businessman Avtandil Tsereteli (connected with the case) committed a money laundering offence, either individually or as co-conspirators.