As a result of operative-searching and investigative activities carried out by the representatives of Investigation Service of the Ministry of Finance of Georgia, criminal prosecution was initiated against eight persons, on the facts of fraudulent misappropriation of large amount of fund belonging to the state budget.

Investigation determined that the accused persons, during the years of 2021-2023, submitted monthly VAT declarations to the Revenue Service by using the company owned by them, in which fictitious data were entered in relation to the sold goods, in which way they created forged VAT assets for the companies.

It was determined, that as a result of the abovementioned crime, the accused persons fraudulently misappropriated, state budget funds a total of GEL 704 714.

Investigation is being continued under the Article 180 of the Criminal Code of Georgia, which envisages imprisonment from 6 to 9 years.

Appropriate procedures are being carried out in order to compensate the damage caused to the state budget, as well as, to expose other persons involved in the abovementioned crime.