One charged with fraudulent appropriation of joint stock company funds
The Service said its investigation had found the offender, the head of the financial and administration department of a company who was entrusted with the right to manage its bank accounts, had fraudulently misappropriated ₾1,630,000 ($604,644) from the entity. Photo: The Investigation Service of the Ministry of Finance of Georgia
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The Investigation Service of the Ministry of Finance of Georgia has charged an individual with fraudulent appropriation of a “large amount of money” from a joint stock company, the state body said on Tuesday.
The Service said its investigation had found the offender, the head of the financial and administration department of a company who was entrusted with the right to manage its bank accounts, had fraudulently misappropriated ₾1,630,000 ($604,644) from the entity.
The crime is punishable by seven to 11 years in prison.