Post Bank Chief Wanted for Embezzlement of State Funds
Sergo Iakobidze, who is the president of the Post Bank of Georgia, is wanted by the law enforcers as Interior Minister Giorgi Baramidze said today for alleged ‘misappropriation of state funds.’
The Post Bank of Georgia was in charge of distribution of allowances for the internally displaced persons from Abkhazia. However, as the Interior Ministry claims the allowances were embezzled by the bank’s officials.
Recently several hundred of internally displaced persons held a protest rally in the western Georgian town of Zugdidi demanding from the authorities to repay debt on allowances.
Sergo Iakobidze was running for MP in the Tchiatura single-mandate constituency in the western Georgia; however the Central Election Commission annulled results of the elections in Tchiatura.
