TBC Bank against fraud

The founder of TBC Bank, Mamuka Khazaradze, said at a special press conference on February 28th that one third of the Georgian population has expressed its trust towards the bank as around 33% of the country’s deposits are made with them.

Khazaradze said that the bank will demand an apology for statements about his own past or the bank’s activities in the civilized and legal space.

“TBC Bank and I have started a campaign about the lies and fraud today,” Khazaradze said, stressing that they do international business.

Khazardaez referred to Goodwill’s allegations against TBC Bank. According to the lawyer of Goodwill, Lasha Nodia, TBC Bank had misappropriated their assets for a much lower price, thus their company faced difficulties. However, representatives of TBC Bank said this is all libel.

Khazaradze further explained that each and every business in the TBC Group has been created following international standards. There is almost no business without a highly respected international investor. “This is why we cannot pardon anyone,” Khazaradze said, stressing that this is not the case of a small village, but rather the reputation of a Georgian business, not him in particular.