The Prosecutor's Office of Georgia has released a statement regarding the trial of Mamuka Khazaradze, Badri Japaridze, and Avtandil Tsereteli.
According to the statement, the prosecution will appeal the decision in the Court of Appeals within the time limit set by law.
"Tbilisi City Court fully shared the evidence presented by the prosecution and found Mamuka Khazaradze, Badri Japaridze, and Avtandil Tsereteli guilty of fraudulent misappropriation of USD 16,664,000 belonging to JSC TBC Bank on charges of Article 180 of the Criminal Code of Georgia. However, the court did not agree with the prosecution's assessment of the legal qualification of the crime committed, which is why the defendants' actions were qualified as fraud.
In the case of the mentioned criminal law, each convict was sentenced to seven years of imprisonment. According to the criminal procedure legislation of Georgia, they have been released from serving their sentences due to the expiration of the statute of limitations for criminal prosecution for fraud.
Mamuka Khazaradze, Badri Japaridze, and Avtandil Tsereteli were charged with money laundering under Article 194 of the Criminal Code of Georgia. The prosecution will appeal the court's decision in the Court of Appeals within the timeframe set by law," the prosecutor's office said in a statement.