Prosecutor’s Office Demands Tsereteli Pay 500 000 GEL Bail

The Prosecutor General's Office of Georgia demands GEL 500 000 bail from businessman Avtandil Tsereteli.

The Prosecutor’s Office will apply to the Tbilisi City court with a relevant motion. The Court will hold the hearing at 15:00 pm today.

Tsereteli, father of the TV Pirveli Broadcasting Company Owner Vakhtang Tsereteli, has been charged by the Prosecutor’s Office with providing assistance to TBC Bank” co-founders Mamuka Khazaradze and Badri Japaridze, in money laundering.

“The investigation was launched into money laundering by the Chairman and the Deputy Chairman of the Supervisory Board of TBC Bank, Mamuka Khazaradze and Badri Japaridze, as a result of which they received a large amount of income,” the Office stated, claiming that Tsereteli was also involved in money laundering along with the co-founders.

Related Story: Criminal Case Launches against Businessman Avtandil Tsereteli

By Ana Dumbadze