Georgia Arrests Cryptocurrency Manager in Multi-Million Dollar Illicit Dealings
A manager at an unnamed cryptocurrency company has been arrested in Georgia for allegedly facilitating tens of millions of dollars' worth of illegal transactions. The Investigation Service of the Ministry of Finance made the arrest, accusing the company of operating without mandatory registration with the National Bank of Georgia.
The agency claims that the company engaged in the conversion of virtual assets and cash, leading to uncontrolled international transactions. As a result of investigative measures, law enforcement officers seized computer equipment, dozens of bank cards, various documents, $83,903 in cash, €300, and cryptocurrency worth $79,600.
The detainee has been charged with illegal entrepreneurial activity and faces three to five years in prison if convicted. The Investigation Service did not disclose the name of the company involved.