Two arrested for misappropriation of property by fraud

The Investigation Service of the Ministry of Finance of Georgia arrested two individuals for fraudulent misappropriation of funds by manufacture and use of forged documents, the Service said on Wednesday.

The offenders, who worked as company heads, offered representatives of foreign companies assistance in purchase and delivery of cars from dealerships located in Georgia, the body said.

They then manufactured forged invoice papers and included false data on the purchases of the cars involved in the deals, receiving money to their bank accounts in return. 

The money was then used by the offenders to purchase and sell different cars to other individuals, with the overall scheme involving misappropriation of ₾4.1 million ($1.5 mln).

The crime is punishable by six to nine years in prison.