The United States Embassy in Georgia issued statement on July 25 over the recent developments around the TBC Bank.
The Embassy said it are “closely following developments” related to the criminal charges the Prosecutor’s Office has filled against Mamuka Khazaradze and Badri Paparidze, TBC Bank co-founders. According to the Embassy, they are “concerned about the context and timing of these charges”.
“An impartial and transparent legal system that is free of political influence is vital for Georgia’s Western integration and its ability to attract foreign investment”, the Embassy stated.
It also emphasizes that the United States continues to support Anaklia port project, that is “a significant source of U.S. investment in Georgia that has the potential to advance the country’s economic growth”.
The founder and former Board Chair of the TBC Bank, Mamuka Khazaradze and his Deputy Badri Japaridze, have been summoned to the Georgian Prosecutor’s Office to be formally charged for alleged money laundering on July 24.The two are facing a criminal investigation for alleged breaches of money-laundering legislation, involving up to USD 17 million transaction that took place back in 2008.