The court of law in Tbilisi, Georgia has found a person guilty of a heinous crime in Republic of Georgia. These crimes include defrauding a large amount of money, fraudulent possession and legalisation of illegal income.
It is specifically to be mentioned that Based on the evidence presented by the Prosecutor’s Office of Georgia, the court had found one person guilty of financial crime, including illegal income.
After receipt of the information the Georgia prosecutors officially initiated the investigation. They collected evidences which were examined during the trial and proved that the person who committed the crime was known to the victims .
He was accused of taking advantage of such relations providing false information about the construction activities allegedly carried out by his family members and promising the victim to transfer residential apartments and commercial spaces which were under construction in Tbilisi and Batumi at a price significantly lower than the market value.
In return for the aforementioned promise in the period from October 2021 to July 2022, he fraudulently took possession of a large amount of money from the victims. The total money amounted to 295,650 GEL(135,000 US dollars). By transferring the fraudulently acquired money to gambling companies and returning a certain amount of money to the bank account by purchasing and registering immovable property in the name of another, the accused made the illegal property legal in many parts.
Notably In order to gain the trust of citizens and to avoid criminal actions, he also used the name of an employee of the Prosecutor’s Office of Georgia.
The Tbilisi City Court finally found the accused guilty of the such charge and sentenced him to 9 years in rigorous prison.
As per the court’s decision, the property obtained by crime will be confiscated free of charge from the convicted person in favour of the state.
The Tbilisi City Court while sharing the evidence found the accused guilty of defrauding a large amount of money, fraudulent possession and legalisation of illegal income.
Notably, many large-scale financial crimes are being reported throughout Georgia. Moreover, with the growth of cyber technology, the accused are using various electronic methods to commit crimes against innocent persons as well.
