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Friday, June 21, 2024

Georgia: Enforcement agencies book nine for real estate fraud

Georgian Prosecutor's Office has charged nine people for fraudulent possession of real estate and for legalisation of illegal income under a different provisions.

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As per the latest information the Georgian Prosecutor’s Office has charged nine people for fraudulent possession of real estate and for legalisation of illegal income. They have been booked under a different provision of Georgian Law.

It is to be specifically mentioned that the preliminary Investigation conducted by the Prosecutor’s Office of Georgia has found that members of the criminal group are responsible for this crime.

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The members of this group have made a organisation under the name of the National Agency of Public Registry to make innocent people their victims.

To make illegal gains and deceive the people they make false promises and present false trust documentation. Under these documents the accused presented themself as representatives of real estate companies.

Based on the mentioned trust, the defendants fraudulently took possession of 19 victims’ property, in total 2435.05 sq.m. 15 real estate of M area, which caused a large amount of property damage of 3 248 375 GEL. They also make huge profits through large numbers of frauds in other parts of the country.

It is specifically to mention that In order to disguise the source of the property its true nature and the real owner the defendants deceptively signed real estate on the basis of a fictitious contract on acquaintances and then realised them. The actions of the members of the criminal group caused the gain of 727 455 GEL.

It is worth considering that the Prosecutor’s office has launched many drives against the anti-social elements. They caught many criminals who committed to economic offences. victim of the crime reported the crime to the enforcement agencies.

After receiving the information the Prosecutor’s office launched an immediate investigation. The official of the prosecutor’s office stated that this kind of drive will continue in the future as well. As per the official more people should come forward to tackle the anti-social activities of criminals.

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It is worth mentioning that in the past, the prosecutor’s office has pursued many economic offences to bring the culprits to justice. Office encourged the people to be extra aware to prevent these crimes in their localities.

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