Officers of Anti-Fraud Division of Tbilisi Police Department under the Ministry of Internal Affairs and Baghdati Police Division of Imereti Police Department have arrested a person on charges of fraudulently appropriating a large amount of money.

The investigation established that the detainee promised citizens that he would make a profit from trading in cryptocurrency. He assured them that he would transfer the profit received in the form of a corresponding interest and return the principal amount deposited.

Under the abovementioned condition, the citizens gave him various amounts of money, however, the detainee failed to fulfill the agreement and, with the aim of unlawful appropriation, fraudulently appropriated 90,500 GEL belonging to the citizens.

The police arrested the man in Imereti region based on a judge's ruling.

The investigation is underway under Article 180, Part III of the Criminal Code of Georgia. The crime envisions up to 9 years in prison.