The Tbilisi city court has found one legal person and one legal company guilty of unlawful money. The prosecutor’s office has produced evidence against the guilty people to ensure the maximum penalties.
It is to be specifically mentioned that the prosecutor’s office’s evidence showd the fact that a significant quantity of unlawful money has been legalized and led the court to find one person and one legal company guilty. The court of law has seen the evidence reliable against the guilty as well.
Initial investigations were conducted by the law enforcement agencies and found these accused entirely guilty of the offense. After the preliminary investigation the trial began in the court of law. Moreover after the completion of the trial one individual and one legal entity were found guilty by the Tbilisi City Court of unlawfully legalizing an unusually significant quantity of illegal income.
It is worth mentioning that evidence presented in court demonstrated that the defendant fraudulently deposited 444827 euros into bank accounts formed in Georgia under the name of an offshore firm and sent fake communications to French financial institutions acting on behalf of their clients. In this way they committed a huge financial crime.
As per the more information the convicted person used false designations and forged documents to move a portion of the illegally obtained money to the international bank accounts of those connected persons just to launder money and legalize a particularly sizable quantity of illegal income.
At the same time the prosecutor’s office’s evidence was accepted in full by the Tbilisi City Court which sentenced the natural person accused of legalizing illegal income to 7 years and six months in prison and permanently barred the legal person from engaging in entrepreneurial activity. Similarly, an amount of 100,000 GEL fine was also levied.
The ruling states that the foreign currency worth about 500,000 GEL that was taken from the guilty person’s bank accounts will be confiscated for the state’s advantage.
