Georgian law enforcement agencies have arrested 11 people suspected of organizing large sums of money laundering through cryptocurrencies. They managed to cash out more than 620,000 euros, as well as purchase cars and real estate.
The scheme was organized back in the spring of 2019, and the initiator of the criminal group was an Israeli citizen. He recruited accomplices, and the group was engaged in deceiving citizens of various states and embezzling their money. Then the money was laundered through cryptocurrencies and legalized. Cars and real estate bought for the proceeds of crime were seized, and the organizer’s account was also arrested, which contained about 2 million lari ($ 580,000).
The investigation found that the organizers approached citizens of foreign countries, including Germany, Austria, China, the Netherlands and Norway, with a proposal to buy cryptocurrencies. However, later the money ended up in the accounts of the fraudsters.
The participants in the fraudulent scheme are charged under the article “illegal receipt-storage-use of personal data by an organized group, illegal appropriation of large sums of money belonging to foreign citizens, as well as legalization (laundering) of illegal income on an especially large scale”. They face 9 to 12 years in prison.
In mid-March, the organizers of an illegal cryptocurrency exchange were arrested in the United States – they provided services for exchanging fiat currency for cryptoassets, and the turnover of the exchange exceeded $ 10 million.
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