Prosecution Service charges individuals, entities with fraud, illicit income legalisation

The Prosecution Service of Georgia has launched criminal proceedings against seven individuals and two legal entities for fraud and legalisation of illicit income, the state body announced on Monday. 

The body said its investigation had established the “transnational organised crime group” had fraudulently embezzled large sums of money belonging to citizens of Germany and other countries through a fraudulent “call centre” service.

Callers presenting themselves as employees of the “call centres” would contact their targets, introducing themselves with fictitious names and providing false information about the location of their company, the Service said.

They then offered services related to e-commerce of securities, stocks, commodity assets, currencies and cryptocurrencies using electronic platforms created by the criminal group.

The ‘operators’ assured the customers they would be able to make a solid profit with their help. After obtaining the consent of the customers, the funds allocated by them were placed in bank accounts under the control of the criminal group,” the Prosecution Service said. 

The seven individuals face imprisonment between nine to 12 years, while two legal entities face liquidation or restriction of right to operate, in addition to fines.

The state body said a wider investigation also involved criminal proceedings launched against 24 individuals and two legal entities, while extradition proceedings were underway against one person.