Georgia’s Investigation Service of the Ministry of Finance says it has uncovered 22 illegally operating currency exchange offices in the Adjara and Guria regions.
The agency states that the exchange offices were operating without the required authorization from the National Bank of Georgia and in violation of legal requirements.
The Investigation Service reports that, under a court order, searches were carried out simultaneously at all 22 locations. Officers seized more than GEL 500,000 in Georgian and foreign currency, along with computer equipment and other items used for currency exchange operations.
The agency notes that investigative activities are ongoing to identify those involved in the alleged illegal operations.
The investigation is being conducted under Article 192(2)(a) of Georgia’s Criminal Code, which carries a prison sentence of three to five years.
