Accounts of TBC Bank founders seized
By Tea Mariamidze
Thursday, August 22
The founder of Georgia’s largest bank TBC, Mamuka Khazaradze says his and another co-founder Badri Japaridze’s bank accounts have been seized.
Khazaradze’s Facebook post reads that in total, $16 million has been frozen on the account of both founders after the Prosecutor’s Office of Georgia (POG) had requested it.
Mamuka Khazaradze linked the action to political plans and Anaklia Deep Sea Project, construction of which is led by TBC Group.
“This action serves only one purpose: to bring an end to the public movement we have announced and to all ongoing charity and business projects, including Anaklia. You cannot scare us! We continue the struggle!” he wrote.
Earlier this month Khazaradze and Japaridze were sentenced to GEL 700,000 bail each by Tbilisi City Court.
The two men were also forbidden to leave Georgia without informing and getting permission from the investigative agency.
The POG stated on July 24 that they decided to charge Mamuka Khazaradze and Badri Japaridze for the legalization of $16,754,000, as a result of which, they received a large amount of income. The investigation into the case was launched on 2 August 2018. Therefore, they are accused of money laundering.
Earlier the two men quit TBC Bank Supervisory Board and also the positions of chairman and deputy chairman of the Anaklia Board of Governors.
Opposition parties claim it is a political persecution against Khazaradze from the ruling Georgian Dream (GD) founder and Chair, billionaire Bidzina Ivanishvili.
Roman Gotsiridze from the United National Movement (UNM) says such things should not be taking place in a democratic state.
“This is an unprecedented thing. Such brazenness from the authorities is rare in any democratic country. It is unacceptable to freeze all accounts of a person who is the country's largest project holder, the largest bank shareholder in the region, and has also announced the creation of a political movement,” Gotsiridze said.
Georgia’s Minister of Economy and Sustainable Development, Natia Turnava excludes the seizure of the accounts of TBC Bank founders is connected to their participation in any projects.
“No status and no fact of forming a political movement is an indulgence. It does not free any of us from responsibilities,” she stated.
Expert Gia Khukhashvili claims the charges against Khazaradze are political-grounded.
“Nothing changes in this country. It's all a political process, no matter what the legal side. Agenda for Mamuka Khazaradze is gradual and coincides with the Anaklia Port issue,” he added.
In late July part of the NGOs also released a statement regarding charges against Khazaradze, saying it creates doubts that the case is politically-motivated.
