Prosecutor`s office comments on arrest of Kaladze`s accounts
27.07.12 16:08
Prosecutor`s Office of Georgia has released a special statement regarding the arrest of the banking accounts of Georgian footballers and the ally of Bidzina Ivanishvili Kakha Kaladze.
`Based on the information received from the Financial Monitoring Service (FMS) at the National Bank of Georgia, the investigation was opened into the crime of alleged legalization of illegal income i.e. money laundering.
The FMS`s information shows that in a short period of time, Kakha Kaladze received approximately $6 million at his bank accounts and withdrew the cash of approximately $1,6 million on multiple occasions. As there is no evidence of depositing the money in another financial institution or using it for a legitimate transaction, the operation qualifies as suspicious under Georgian and international standards (Council of Europe Convention on Laundering, Search Seizure and Confiscation of the Proceeds from Crime, MONEYVAL Committee Recommendations, Financial Action Task Force (FATF) Recommendations).
The analysis of the transactions further show that in the period of time when large amount of money was cashed out, Kakha Kaladze made cashless payments of approximately $900,000.00 to cover personal and related expenses.
Therefore, the relevant authorities are obligated by both Georgian anti money-laundering legislation and the international treaties and other binding international standards to investigate the suspicious transaction involving large amount of cash ($1,6 million) and freeze the accounts before the investigation is completed,` the statement says.
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