Georgia uncovers transnational money laundering scheme

Georgia's Prosecutor's Office has launched criminal proceedings against four foreign nationals and five legal entities on charges of laundering particularly large amounts of money.

Investigators allege the suspects committed crimes in several countries before transferring the illicit proceeds to Georgia for laundering, Caliber.Az reports, citing Georgian media.

The investigation found that the suspects registered several companies in Georgia and, using forged documents and fictitious payment descriptions, transferred approximately 21.5 million lari (about $8.2 million) from abroad into the accounts of individuals and legal entities.

The defendants face nine to 12 years in prison if convicted. The legal entities involved could face penalties including liquidation, a ban on conducting business activities, or fines.

Prosecutors said they will ask the court to place the suspects in pretrial detention. If the request is granted, the defendants will be placed on the wanted list.

By Bakhtiyar Abbasov