Opposition MP did not declare assets, violates local law

Opposition Parliament Member David Bakradze is accused of violating local law after not declaring more than half a million GEL when he was serving as a public official.

According to Georgian law, all public officials must indicate at an Asset Declaration if they or their immediate family members had cash valued at more than 4,000 GEL.

Today local news agency Pia.ge revealed the United National Movement (UNM) MP concealed £261,757 (754,700 GEL) at the 2014 Asset Declaration of Public Officials when he was supposed to reveal his assets.

It is believed at the time of the asset declaration Bakradze had a bank account with London-based HSBC bank which contained £261,757 (754,700 GEL). However at the Asset Declaration, Bakradze declared he only had 15,000 GEL and $10,000 USD cash.

Pia.ge today released a copy of a document which outlined the July 2014 closure of Bakradze’s high-interest Deposit Bond, which was on a three-year fixed term, however the media did say how it had obtained the information.

Bakradze served as the chairman of Georgia’s Parliament from June 7, 2008, to October 21, 2012, and during this time had to indicate at the asset declaration if he or his family members had cash worth more than 4,000 GEL.

The Chief Prosecutor’s Office told Pia.ge it was looking into the case and would make a statement once it was more informed.

Bakradze has not made any comments regarding the allegations.

Below see the documents: