About Civil.ge
Eng | Geo | Rus
Last updated: 17:28 - 17 Aug.'17
RSS
Mobile
Twitter
Facebook
Cartu Bank: Seized Cash Totals USD 2m and EUR 1m
Civil Georgia, Tbilisi / 19 Oct.'11 / 17:44

Billionaire-turned-politician Bidzina Ivanishvili’s Cartu Bank said on Wednesday, that the police seized its USD 2 million and EUR 1 million in cash during a raid on its armored van on October 19.

The Interior Ministry said that “large amount of cash” was confiscated in connection to criminal charges initiated over unspecified money laundering case. Six employees of the bank, accompanying the cash, were detained, but released after questioning.

Money laundering allegation was among the reasons cited by Georgia’s central bank on October 19 behind its decision to launch a probe into Cartu Bank’s operations.

Cartu Bank has dismissed money laundering allegation as “incomprehensible”, saying in a written statement that the confiscated money was intended for its daily cash needs and was obtained through a routine transition with the Bank of Georgia.

The bank, which reported net income of GEL 5.9 million as of June 2011, also said that its armored Volkswagen cash-in-transit van was also confiscated.

RELATED
Latest News
17 Aug.'17 17:28
Detention of Civic Activist Stirs Outcry in Tbilisi
Tamar Mearakishvili was briefly detained by the Moscow-backed Tskhinvali authorities.   
16 Aug.'17 18:27
2008 Russo-Georgian War Recap: August 16
Civil.ge uses its archives and other sources to provide a daily recap of the events of the war.
16 Aug.'17 15:50
Alliance of Patriots Names Mayoral Candidate
Irma Inashvili, lawmaker and Parliament’s Vice Speaker, will enter the mayoral race in Tbilisi.
16 Aug.'17 12:11
U.S. Annual Report on Georgia Religious Freedom
The U.S Department of State released its report also covering the developments in Georgia on August 15.
15 Aug.'17 19:15
GDDG Offers Consultations on Constitutional Amendments
The ruling party expressed readiness to discuss “all major issues of the constitutional reform.”  
15 Aug.'17 13:23
Geostat: 2016 FDI USD 1.56 bln
Final figures have been revised downwards from preliminary data of USD 1.64 billion.
15 Aug.'17 11:51
2008 Russo-Georgian War Recap: August 15
Civil.ge uses its archives and other sources to provide a daily recap of the events of the war.
14 Aug.'17 14:09
2008 Russo-Georgian War Recap: August 14
Civil.ge uses its archives and other sources to provide a daily recap of the events of the war.
14 Aug.'17 12:39
Abkhazia Armed Conflict Anniversary Marked in Tbilisi
The armed conflict 25 years ago claimed around ten thousand lives and displaced hundreds of thousands.
13 Aug.'17 18:36
2008 Russo-Georgian War Recap: August 13
Civil.ge uses its archives and other sources to provide a daily recap of the events of the war.

About Civil Georgia
Civil.Ge © 2001-2017, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
71