Transparency International Georgia has published a report prepared by an international expert on the case of Mamuka Khazaradze, Badri Japaridze and Avtandil Tsereteli.
According to the organization, the report says that there is no basis to prove Mamuka Khazaradze, Badri Japaridze or Avtandil Tsereteli committed a money laundering offence, either individually or as co-conspirators.
“Today, on May 14th, 2020, Transparency International Georgia is releasing the assessment of the money laundering prosecution related to the TBC Bank case.The author of the report is independent international expert Mrs. Pauline David. According to the report, there is no basis to prove Mamuka Khazaradze, Badri Japaridze or Avtandil Tsereteli committed a money laundering offence, either individually or as co-conspirators.
After an assessment of Georgian and international laws, the Indictment, the facts in issue, and accepted international jurisprudence in money laundering cases, key findings are as follows: There is no evidence from which to infer an intention: to ‘legalise’(launder) any funds obtained by way of loan; to conceal the ‘illegal origins’ of the loan funds; or to integrate those funds back into the legitimate economy.
Even if the court found every fact in issue in the case in favour of the prosecution, those facts are not capable of supporting a money laundering charge.
Money laundering and the underlying predicate crime (misappropriation in this case) are separate offences.
Proof of a predicate the crime of misappropriation alone is not proof of money laundering.
Even if the prosecution proved misappropriation, the subsequent conduct alleged could only support the use of misappropriated proceeds, not the laundering of those proceeds.
Internationally courts condemn the practice of prosecuting for money laundering, when the conduct alleged extends no further than conduct capable of proving the predicate crime.
Because of the statutory time limitation, the crime of misappropriation cannot now be prosecuted as a stand-alone offence, nor can it be proven as a predicate crime.
It can be an abuse of process to circumvent a statute of limitations by prosecuting a person for an inappropriate or artificially constructed charge (money laundering) to get around the fact that the appropriate charge for the conduct alleged (misappropriation) is statute barred.
In many jurisdictions, where the court has determined a prosecution is an abuse of process, the court has used its inherent power to protect the court by terminating those proceedings”, reads the statement released by Transparency International Georgia.
See all the news
Turkey to open doors to 31 countries for health tourism
Coronavirus: Boris Johnson moved to intensive care
First-Stage Land Usage Permit for APM Terminals Poti
How will Nenskra HPP Reduce the Electricity Import?
Carrefour: The product will be on the shelves with the prices same as before
Differences between tobacco and nicotine products
OECD cuts 2020 global growth forecast over virus
Georgia to export new armored vehicle Didgori Meomari
"Hotels are in shock, reservations are canceled" - Shalva Alaverdashvili
Georgian brand Entrée enters the UK market and opens its first facility in London
Frontera claims that Georgian government has started harassing the company since 2013
Company HotelFriend offers convenient eComerce platform to Georgian Touroperators
Will the head of "Anaklia Deepwater Port Development Agency" be replaced?
TOP-10 Exporter Companies from Georgia to Russia
TBC Bank Group announces certain changes to the composition of the Management Board
Silknet signed Memorandum of Understanding with Global Communications Company One Web
Prosecutor’s Office allows Avtandil Tsereteli to leave the country
Mamuka Khazaradze: We want to avoid arbitration, but the Consortium is ready for that
Reuters: Dutch city tells floating Georgian monastery to cast off
TBC Bank Group Shares up by 6.3% WoW on the LSE