Khazaradze and Japaridze to Pay 700 000 GEL Bail

According to the judgment of the Tbilisi City Court, co-founders of TBC Bank, Mamuka Khazaradze and Badri Japaridze are ordered to pay 700 000 GEL bail each. Additionally, they have been forbidden to leave the country without informing and getting permission from the investigative agency.

At today’s court session, the state prosecutor requested Gel 1 million as bail for the co-founders of TBC Bank.  

The above was opposed by the defense.

As the prosecutor noted in the motion, 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.

The attorney did not agree with the prosecutor’s motion. According to lawyer Zviad Kordzadze, this is an absurd situation and if someone suffers, it is exactly "TBC Bank".

According to Kordzadze, the overall rating of Georgia has fallen as a result of recent developments around TBC Bank and Anaklia Port Project. According to the attorney's statement, the implementation of the Anaklia project is impossible without going abroad and when the Prosecutor's Office demands that Khararadze and Japaridze should not be allowed to go abroad without permissions, it means the ban of their activities.

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.

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