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Former Government Accused of Misappropriating Liberty Bank

Published: October 21, 2013 | 3:41 pm
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The family of the former owner of Liberty Bank Mamuka Jincharadze is accusing the former government of unlawfully appropriating the bank. A special press conference is due to take place on the subject tomorrow. In a preliminary statement, the Financial Police and the National Bank have been accused of being involved in the act of misappropriation. The then-People’s Bank’s assets, which had been valued at $125 million, were confiscated from the rightful owners in 2008, and handed over to the former Prime Minister Lado Gurgenidze, the statement reads. It further alleges that attempts were made to cover up the crime and intentionally delay the investigation. The bank’s former shareholders appealed to the Prosecutor General’s Office several months ago, demanding an investigation into the case.

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