Four detained in large-scale microfinance fraud case in Georgia

Police officers from the Marneuli district unit of the Kvemo Kartli police department have detained four people on charges of large-scale fraud, based on a court warrant.

The suspects, born in 2004, 2002, 2004, and 1997, deceived various microfinance organizations in Marneuli and Tbilisi at different times by pawning fake gold items and fraudulently obtaining money, the Ministry of Internal Affairs said on Friday.

The total damage caused to the microfinance institutions amounted to 48,845 GEL.

Law enforcement officers seized the fake gold items as evidence and detained all four individuals as suspects.

The crimes carry a sentence of up to nine years in prison.