The Prosecutor’s Office of Georgia has charged one person with fraudulently embezzling a large amount of money.

The investigation conducted by the Ministry of Internal Affairs revealed that the accused allegedly promised citizens monthly interest payments and, ultimately, the return of the principal amount in exchange for transferring money for a specified period of time in exchange for trading in cryptocurrency and making a profit. The accused did not fulfill the agreement, both in terms of interest payments and return of the money, and fraudulently appropriated GEL 90,500 belonging to the victims.

Law enforcement officers arrested the accused based on a judge’s ruling. He was charged under Article 180, Part 3, Subparagraph “b” of the Criminal Code of Georgia (fraud committed in a large amount), which provides for imprisonment for a term of up to 9 years.

Based on the prosecutor’s request, the defendant has already been sentenced to imprisonment as a preventive measure.