Vakhtang Tsereteli - We might Have to Mortgage TV Pirveli Building

“I must save my father. We do not own any business now, so if the Court orders bail to him, we will have to mortgage TV Pirveli building in order to pay the bail”, the Founder of the TV Pirveli Broadcaster, Vakhtang Tsereteli, stated at the Tbilisi City Court, where the case of his father, Avtandil Tsereteli, is being discussed.

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

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

Tsereteli, a 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: Prosecutor’s Office Demands Tsereteli Pay 500 000 GEL Bail

By Ana Dumbadze