The Prosecutor's Office of Georgia, within the framework of a joint operation with the State Security Service, has revealed the fact of legalization of illegal income in the amount of 624 million USD and 35 million EUR in 2022-2024. One person has been arrested on charges of money laundering. The above was announced at the briefing held at the Prosecutor's Office.

According to the Prosecutor's Office, the accused and other members of the criminal group legalized illegal income in the amount of approximately 624 million USD and 35 million EUR in 2022-2024.

In particular, according to the investigation, in agreement with the detainee, members of the criminal group systematically ensured the import of foreign currency of undocumented origin in large quantities from bordering countries, bypassing customs procedures, using special hiding places in vehicles, and delivering it to the place of collection of the money - a currency exchange point.

The accused brought the foreign currency of undocumented origin collected in this way in large quantities to banking institutions at various times in order to give it a legal appearance, as if it were legal income received within the framework of currency activities, as evidence of which false data on its origin was provided to commercial banks. The funds received as a result of conversion from banks were directed into legal economic turnover by transferring them to other persons and further disposal, as well as by purchasing real estate and movable property.

"The investigation conducted by the Prosecutor's Office has established that the accused, under the guise of operating a currency exchange point licensed by the National Bank and owned by him, deliberately ignored the requirements of the Law of Georgia "On the Prevention of Money Laundering and Financing of Terrorism", organized an illegal network of collecting money of unsubstantiated origin, changing its origin through conversion, and placing it in legal circulation.

By prior agreement with the detainee, members of the criminal group systematically ensured the import of foreign currency of unsubstantiated origin in large quantities from neighboring countries, bypassing customs procedures, using special hiding places in vehicles, and delivering the money to the collection point - a currency exchange point.

The accused, in order to give legal form to the above-mentioned foreign currency of unsubstantiated origin, collected in a particularly large amount, brought it to banking institutions at various times, as if it were legal income received within the framework of foreign exchange activities. The funds received as a result of conversion from banks were directed into legal economic turnover through transfer to other persons and further disposal, as well as through the purchase of real estate and movable property.

Through the above actions, the accused and other members of the criminal group legalized illegal income in the amount of approximately 624 million US dollars and 35 million euros in 2022-2024. As part of the investigative actions carried out in the case, a large amount of cash was seized. In order to ensure the confiscation of criminal proceeds and other assets in favor of the state, the Prosecutor's Office will conduct appropriate legal procedures.

The Prosecutor's Office will apply to the court within the time limit established by law with a request to impose imprisonment as a preventive measure against the accused. The charges filed provide for up to 12 years of imprisonment as a form and measure of punishment.

We would like to remind the public that 7 individuals have been convicted in the past for similar facts, within the framework of the investigation conducted by the Prosecutor's Office, and assets worth approximately 13 million GEL were confiscated by the court," the Prosecutor's Office said.