Businessman Avtandil Tsereteli Pays 50 000 GEL Bail

Businessman Avtandil Tsereteli, a father of the founder of TV Pirveli Broadcaster, Vakhtang Tsereteli, has paid the 50,000 GEL bail ordered for him by the Tbilisi City Court.

His lawyer says the bail was secured with the property of the member of Tsereteli’s family.

Previously, the businessman claimed he would not pay the bail.

“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”, he stated after announcing the Court’s ruling.

His son, Vakhtang Tsereteli, previously stated:

“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”.

On August 27, the Tbilisi City Court upheld the motion of the Prosecutors’ Office of Georgia and ordered 50,000 GEL bail for Avtandil Tsereteli.

He was 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.

By Ana Dumbadze