Prosecutor’s Office launches money laundering inquiry against two individuals

The Prosecutor General’s Office of Georgia has launched a criminal prosecution against two individuals for fraud and money laundering committed against a British citizen, the state body revealed on Monday.

The Office said its investigation showed one of the offenders, identified only through their initials, had established an enterprise in Georgia and opened bank accounts in order to fraudulently embezzle money from a non-resident individual.

The offender, along with their accomplice, had posted an advertisement on a “pre-established platform” for profit generation on the stock market, before fraudulently receiving a transfer of 34,064 GEL (about $11,095/€10,167) from a British citizen to their accounts.

With the aim of legalising the illegal income, the conspirators then converted the money into the bank account of the enterprise, the Prosecutor’s Office said. After receiving $12,437, one of the offenders withdrew the cash with a “fraudulent purpose” and transferred the money to the bank account of their accomplice.

The crime is punishable by six to nine years in prison.