Prosecution Service charges four with money laundering

The offenders face up to 12 years in prison. Photo:, 04 Jul 2022 - 14:11, Tbilisi,Georgia

The Prosecution Service of Georgia has launched criminal proceedings against three legal entities and an individual for fraud and money laundering, the state body announced on Monday.

The body said its investigation had established the “transnational organised crime group” had fraudulently embezzled about $2 million from the Director of a Hong Kong-based company.

The group convinced  the Director of prospects of profitable investments through purchasing shares of well-known enterprises, the Service said, and received about $1,906,263 from their target.

They subsequently transferred the sum to bank accounts of three enterprises owned by them and other individuals related to the group in Georgia.

The offenders face up to 12 years in prison.