Prosecutor's Office charges 4 for fraudulent appropriation of state funds
Two of the arrested persons have been sentenced to preliminary detention by courts, with the other two released on bail but prohibited from leaving the country, it also added. Photo: Prosecutor's Office of Georgia
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The Prosecutor's Office of Georgia on Thursday charged four individuals for appropriation of state funds through fraudulent tax documents.
The Office said the individuals had used fictitious enterprises to produce the tax papers for obtaining fake VAT products, using the latter to cover their actual tax payments to the budget.
It added the operation had led to the arrested persons obtaining ₾498,978 ($198,035) from the state budget between 2020-2021.
The body explained ₾277,823 ($110,262) of the sum represented “property damage” to the budget, with the remaining ₾221,155 ($87,772) had been wired by the individuals from budget funds to own bank accounts.
Two of the arrested persons have been sentenced to preliminary detention by courts, with the other two released on bail but prohibited from leaving the country, it also added.
The four arrested individuals face six to nine years in prison for the actions.