The Prosecutor`s Office of Georgia has initiated criminal prosecution against a foreign citizen for laundering a particularly large amount of money.

The investigation conducted by the Investigation Department of the Prosecutor General`s Office of Georgia established that in order to launder a particularly large amount of money of unsubstantiated origin, the accused transferred several tens of millions of foreign currency from personal and affiliated individuals’ bank accounts abroad to bank accounts opened in a commercial banking institution operating in Georgia, allegedly for investment purposes.

The accused disguised the origin of the money as income obtained legally by referring to the relevant documentation and transferred part of the assets to the banking system of an offshore state for the purpose of further integration.

The foreign citizen was charged in absentia under Article 194, Part 3, Subparagraph "c" of the Criminal Code of Georgia (legalization of illegal income in an especially large amount), which provides for up to 12 years of imprisonment as a form and measure of punishment.

The prosecutor`s office will apply to the court within the time limit established by law to impose imprisonment on the accused as a preventive measure. If imprisonment is used, a wanted person will be declared against him.

The Prosecutor`s Office will conduct appropriate legal procedures to recover the foreign currency equivalent of approximately GEL 70 million seized as part of the investigation for the benefit of the state.