As a result of operative-search and investigative activities carried out by employees of the Investigation Service of the Ministry of Finance of Georgia, the manager of an unregistered virtual asset service provider was detained.

Investigation determined that the accused, without mandatory registration with the National Bank of Georgia, was carrying out virtual asset transactions worth tens of millions of US dollars, including the conversion of virtual assets and cash.

Through the above-mentioned activities, the accused was facilitating uncontrolled international transactions in the country.

As a result of investigative activities, computer equipment, dozens of bank cards, various documents, cash amounting to USD 83 903 and EUR 300, as well as cryptocurrency worth USD 79 600 were seized.

The crime is punishable under Subparagraph “a” of Paragraph 2 of Article 192 of the Criminal Code of Georgia by imprisonment for a term of 3 to 5 years.

At the same time, relevant measures are being taken to identify and expose other persons involved in the mentioned criminal activity, as well as to uncover cases of tax evasion and possible legalization of illicit income.