Prosecutor’s Office charges foreign national with laundering ₾1.9 mln

The Prosecutor’s Office has launched criminal proceedings against a foreign national over the alleged laundering of a particularly large amount of illicit income, the agency said on Thursday.

The investigation established that the defendant used bank accounts opened with forged passports issued in the names of different countries to launder funds of questionable origin equivalent to approximately GEL 1.9 million.

The funds were deposited into the accounts in separate transactions and then transferred through multiple transactions to bank accounts controlled by the defendant and an associated individual in an effort to integrate the money into the financial system and disguise it as legitimate income. Part of the funds was also invested in real estate, according to the investigation.

The offense carries a sentence of up to 12 years in prison.

The Prosecutor’s Office said it would apply to the court within the legally prescribed period for pre-trial detention. If detention is imposed, the defendant will be placed on a wanted list.

The Prosecutor’s Office also said it would take the relevant legal measures to confiscate for the benefit of the state the real estate and funds in bank accounts that have been seized as part of the investigation.