TBC Bank Group Supervisory Board Has New Chairman

After Mamuka Khazaradze and Badri Japaridze left the posts of the Chairman and the Deputy Chairman of the Board of Directors of TBC Bank, The Supervisory Board of TBC Bank Group immediately appointed independent director for the TBC Bank Group, Nikoloz Enukidze, as the Chairman of the Supervisory Board.

The above is noted in the statement of TBC Bank Group, which was released on Thursday discussing the charges the Georgian Prosecutor General’s Office filed against TBC Bank co-founders Mamuka Khazaradze and Badri Japaridze. 

According to the statement, Nikoloz Enukidze has been appointed as the New Chairman of the Supervisory Board because of his “deep knowledge of banking matters and international experience”.

Yesterday, the Prosecutor General's Office of Georgia charged Mamuka Khazaradze and Badri Japaridze.

According to the agency, the two are accused of the laundering of $16 754 000.

“Mamuka Khazaradze and Badri Japaridze are charged for the laundering of $16 754 000, as a result of which they received a large amount of income”, reads the statement of the Prosecutor General's Office.

The Prosecutor General's Office of Georgia launched an investigation into laundering by the Chairman and the Deputy Chairman of the Supervisory Board of TBC Bank on 2 August 2018.

Related Story: TBC Bank Releases Statement

By Ana Dumbadze