Court Orders 500 000 GEL Bail for Avtandil Tsereteli

The Tbilisi City Court upheld the motion of the Prosecutors’ Office of Georgia and ordered 50,000 GEL bail for businessman Avtandil Tsereteli, a father of the founder of TV Pirveli Broadcaster, Vakhtang Tsereteli.

“I will not pay the bail, I'd rather go to prison. They just want us to mortgage TV Pirveli building in order to pay the bail”, Avtandil Tsereteli stated after announcing the Court’s ruling.

Avtandil Tsereteli says he does not have the financial resources to pay the amount. In addition, he does not plead guilty.

“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 earlier today.

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: Vakhtang Tsereteli - We might Have to Mortgage TV Pirveli Building

By Ana Dumbadze