Prosecutor's Office solves scheme defrauding US citizens, offshore operation targeting French companies

  • The targets were instructed to transfer their money to bank accounts of a company the group had founded in Georgia, with one of the individuals and their associates taking possession of about $1.8 million from the victims. Photo: Prosecutor's Office of Georgia

Agenda.ge, 12 May 2023 - 15:36, Tbilisi,Georgia

The Prosecutor's Office of Georgia on Friday said it had solved two transnational crime cases, with one targeting citizens of the United States from Georgia and the other involving a foreign citizen defrauding French-based enterprises from the country.

The body said the first crime involved a criminal group placing advertisements online promoting investment with high interest rate and attracting funds from American citizens.

The targets were instructed to transfer their money to bank accounts of a company the group had founded in Georgia, with one of the individuals and their associates taking possession of about $1.8 million from the victims.

The fraudulently appropriated funds were then laundered through legal entity accounts operated by one of the accused in various countries, with the operations involving about $1.7 million.

In the other case, money was appropriated from enterprises operating in France by a foreign citizen who had registered an offshore company and opened enterprise accounts in a banking institution operating in Georgia.

The Office said the defendant had sent false messages to banking institutions in France on behalf of their clients, to facilitate transfers of €445,000 of the victims’ funds by the banks to the accounts owned by the individual.

Back