Prosecutor’s Office files charges against TBC Bank Founders
By Tea Mariamidze
Thursday, July 25
Prosecutor’s Office of Georgia (POG) has filed charges against the founders of Georgia’s largest TBC Bank – Mamuka Khazaradze and Badri Japaridze for legalizing illegal money.
POG said on August 2, 2018, they launched an investigation into the legalization of illicit income by the Chairman and the Deputy Chairman of the Supervisory Board of JSC TBC Bank, adding a final decision has been taken after analyzing the evidence obtained within the investigation into the criminal case.
“It has been decided to charge Mamuka Khazaradze and Badri Japaridze for the legalization of $16 754 000 dollars, as a result of which, they received a large amount of income,” POG stressed.
The agency said they would address the court regarding the measure of restraint after the charge is officially read to Mamuka Khazaradze and Badri Japaridze in the Prosecutor General’s Office, where they have been summoned.
On February 14, the National Bank of Georgia (NBG) stated that after examining transactions conducted by TBC Bank 2007-2008, it was revealed that the Chairman of the Supervisory Board of TBC Bank Mamuka Khazaradze and his Deputy Japaridze had violated the requirements of the legislation regulating conflict of interests. Therefore, it suspended the authority of the two men. Meanwhile, the Prosecutor’s Office also had launched an investigation or alleged money laundering.
After this, Khazaradze, who says that he and his TBC Bank has been under attack by the government during the last months, resigned as the Chair of TBC Supervisory Board and in April, he and Badri Japaridze quit the board.
In addition, TBC Bank is leading the consortium that is constructing Anaklia Deep Sea Port, a very strategic port for the country on the Black Sea coast in the west.
Earlier in July, Khazaradze announced about creating a political movement in September in order to unite a “healthy, progressive and pro-western society” and create a political force named Civil Movement.
Gigi Ugulava, one of the leaders of the European Georgia opposition party, believes that the developments around Khazaradze are politically motivated.
He says the founder and Chair of the ruling Georgian Dream (GD) party, Bidzina Ivanishvili, wants to get rid of his opponents to “sit in his mud alone.”
“Ivanishvili is trying to control both the media and the political spectrum together with his team,” he said.
Chairman of the Parliament Archil Talakvadze says the statement of the POG has nothing to do with Khazaradze’s political plans. He said the investigation was launched before Khazaradze’s announcement about the creation of a political movement.
“The Parliament closely monitors this case. It is important that all the questions are answered,” he said.
