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Investigation into Bankruptcy of Cartu Bank Concluded

Published: July 26, 2013 | 8:26 am
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The investigation into the bankruptcy of the Cartu Bank has concluded. A spokesman for the Prosecutor General’s Office has told TV3 that there are up to 40 parts to the case, which has been passed on to the courts. The President of Cartu Nodar Javakhishvili has stated that the majority of those companies that owe money to the bank, have yet to repay their debts. Only 12% to 13% of the loans have been repaid. The Ministry of Internal Affairs uncovered a criminal scheme, the aim of which was to bankrupt the Cartu Bank. Numerous companies are charged with appropriating funds. Loans totalling over 140 million GEL had been given out by the bank to businesses.

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