Prosecutor’s Office Might Request Gel 1 Million Bail for TBC Founders

Reportedly, the Prosecutor General's Office of Georgia might request Gel 1 million as bail for the co-founders of TBC Bank, Mamuka Khazaradze and Badri Japaridze.

The Prosecutor General's Office of Georgia filed a motion at Tbilisi City Court regarding the use of a restraint measure in Mamuka Khazaradze and Badri Japaridze's case today.

The Prosecutor's Office did not specify the kind of restraint measure they have requested. 

The Prosecutor General's Office of Georgia charged Mamuka Khazaradze and Badri Japaridze on July 24, 2019.

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: Prosecutor's Office Charges Founders of TBC Bank

By Ana Dumbadze