Prosecutor's Office charges 3 individuals, 13 legal entities for money laundering in transnational crime

The Prosecutor General's Office of Georgia has charged three individuals and 13 legal entities with money laundering in a case involving transnational crime, the state body announced on Thursday.

As the investigation established, the organised crime group had committed various types of crimes, on the territory of a foreign country, to obtain large amounts of financial benefits illegally, including money laundering, cybercrime, and falsification of official documents. 

The employees of the fraudulent company, which was registered on the territory of a foreign country, opened accounts in Georgian banks, using the names of their legal entities, and made multiple transactions, later investing the criminally-obtained sums in expensive real estate. 

Around $111 million and €2.5 million were legalised by the fraudulent company and as per the court ruling, about  $70 million and €1.7 have been seized, along with several land plots. The crimes are punishable by imprisonment from nine to 12 years and for legal entities by fine and liquidation or deprivation of the right to work.

The state body said it, together with international partners, continued an “intensive investigation” and “fight” against money laundering.