About Civil.ge
Eng | Geo | Rus
Last updated: 18:14 - 21 Feb.'18
RSS
Mobile
Twitter
Facebook
Seized Cash Returned to Ivanishvili's Cartu Bank
Civil Georgia, Tbilisi / 12 Jan.'12 / 18:55

USD 2 million and EUR 1 million, confiscated from billionaire opposition politician Bidzina Ivanishvili’s Tbilisi-based Cartu Bank in connection to money laundering probe, has been returned to the bank, the chief prosecutor’s office said.

USD 2 million and EUR 1 million in cash was seized in a police raid on Cartu Bank’s armored van on October 18 – less than two weeks after the billionaire announced about his plans to form a political party to run for the parliament. The cash transit van was on its way from Bank of Georgia’s office from where the cash was withdrawn to Cartu Bank when it was stopped by the police.

The law enforcement agencies said the seizure was made in connection with money laundering probe. The authorities said that transaction involving large amount of cash made by the Cartu Bank was “suspicious” and carried out in violation of standard procedures. The allegation was strongly denied by the Cartu Bank, which condemned the seizure of cash as politically motivated and as retaliation against a political opponent.

The chief prosecutor’s office released a brief written statement on January 10 saying that the cash confiscated on October 18 was transferred to the account of Cartu Bank.

“The cash, seized on October 18, 2011 as part of the investigation launched under article 194 of the Criminal Code of Georgia [legalization of illicit income], was transferred in compliance with the law to the account of Cartu Bank in a form of non-cash payment, that rules out any threat of [this cash] being used for legalization of illicit incomes,” the statement reads.

“Investigation into the case continues,” it added without giving details.

Nodar Javakhishvili, chairman of Cartu Bank’s supervisory board, told Maestro TV on January 11, that it was unclear for him why the investigation was still ongoing as no violation whatsoever had been committed by the Cartu Bank.

Latest News
21 Feb.'18 18:14
Crimean Tatar Mejlis Chairman Visits Georgia
Refat Chubarov met Georgian parliamentary speaker and government minister during his stay in the country.
21 Feb.'18 16:38
President Campaigns to Engage Youth in Centennial Celebrations
Georgia will mark the centennial anniversary of restoration of its statehood on May 26, 2018.
21 Feb.'18 13:26
Foreign Minister Warns Against Visa-Waiver Abuse
Over 220,000 Georgian citizens have enjoyed visa free travel to the Schengen area.
20 Feb.'18 15:19
The Weekly Tripwire - Issue 27
Civil.ge’s news digest covering developments in Abkhazia and Tskhinvali Region/South Ossetia.
19 Feb.'18 17:53
Tbilisi City Court Releases Turkish Citizen on Bail
Mustafa Emre Çabuk has been released pending final court decision on his extradition to Turkey.
19 Feb.'18 15:49
CSOs, Media Outlets Call for Parliamentary Probe into Mukhtarli Case
The joint statement has been signed by 35 local civil society organizations and media outlets.
19 Feb.'18 14:09
Georgian PM Meets World Leaders in Munich
Prime Minister Giorgi Kvirikashvili attended the Munich Security Conference on February 16-18.
16 Feb.'18 16:58
Government Unveils New Tax Initiative for Small Businesses
According to the initiative, tax rates for small businesses will decrease fivefold.
16 Feb.'18 15:06
Georgian Economy Minister Visits Azerbaijan
Kumsishvili attended the Fourth Ministerial Meeting of Southern Gas Corridor Advisory Council. 
15 Feb.'18 17:39
Independent Agency to Investigate Crimes Committed by Law Enforcement Officers
The agency will be established in 2019, and will replace the Office of Personal Data Protection Inspector.

About Civil Georgia
Civil.Ge © 2001-2018, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
75