Bank Accounts of TBC Bank Founders Seized

The bank accounts of TBC Bank co-founders Mamuka Khazaradze and Badri Japaridze have been seized, says Khazaradze on his Facebook page.

“All the bank accounts of Badri Japaridze and I were seized at the request of the Prosecutor's Office and under court ruling. This action serves only one purpose: to bring an end to the public movement we have announced and to all ongoing charity and business projects, including Anaklia. You can not scare us! We continue to fight!” Khazaradze wrote.

The Prosecutor's Office reports that they applied to court with the motion to seize the bank accounts of Mamuka Khazaradze and Badri Japaridze, having officially charged the founders of JSC TBC Bank in July. The two are accused of laundering a total sum 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,” said the Prosecutor General's Office.

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

Mamuka Khazaradze, Georgian businessman and the founder of TBC Bank, recently announced the launch of the new public movement, making the relevant statement on July 9.

"Recent developments in the country are becoming alarming," he said. "There is a deliberate process of confrontation and splitting our community. The night of June 20 was the date when our worthy and free youth expressed fair and sincere protest against occupation and violence. This protest is a part of the continuous historic process and continuation of our country's struggle for independence.

"It is necessary today to consolidate and create a healthy, progressive and pro-Western society since it is obvious that the de-escalation of the situation and the achievement of civil peace is impossible only through the efforts of government or political parties. Society should be actively engaged in ongoing processes. Therefore, I believe that it is necessary to establish a new public movement, which will be joined by the representatives of different spheres, those who will be united under the idea of building a modern western state in Georgia, with the most competitive and strong economy in the region, where the rule of law will be celebrated. Once and forever, we must stop using various labels against each other. On the contrary, we should all come together for the idea of civil peace.

"Based on the above, I made a decision to establish a public movement in September with my friends and colleagues and professionals of various spheres, the main purpose of which is to unite the country and maintain its independence and freedom", he stated. 

Khazaradze now says he believes the seizing their bank accounts was the state's revenge against him for announcing the establishment of a new, pro-western public movement. 

Related Story: Prosecutor’s Office Charges Mamuka Khazaradze and Badri Japaridze

By Ana Dumbadze