Five Russian citizens arrested in Georgia over illegal business, money laundering

Georgia’s Investigation Service of the Ministry of Finance, in coordination with the Prosecutor General’s Office, has detained five citizens of Russia for alleged involvement in illegal entrepreneurial activities and money laundering.

According to investigators, one company operated without authorization from the National Bank of Georgia, providing virtual asset services through an unregistered office and a so-called “courier” system. Over the past several months, the company is alleged to have facilitated cryptocurrency transactions worth hundreds of millions of lari, contributing to uncontrolled international financial flows within Georgia.

The investigation further revealed that the Russian nationals reportedly brought large sums of foreign currency into the country-possibly bypassing customs control-using vehicles with Russian license plates. The funds were then used to purchase virtual assets, effectively disguising illicit income as legitimate. Despite large-scale operations, neither the company nor the individuals involved appear to have paid taxes to the state budget.

Searches conducted across multiple locations in Tbilisi uncovered USD 371,000, accounting records, documentation, and computer equipment. Investigators also seized USD 100,000 intended for virtual asset purchases and USD 250,000 from vehicles registered in Russia-amounting to a total of USD 721,000.

The case is being pursued under Articles 192(2a) and 194(2a, 3g) of Georgia’s Criminal Code, which carry prison sentences of 9 to 12 years.