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4 thoughts on “TBLPOD28feb2013

  1. The charges against Tbilisi Mayor Gigi Ugulava include two episodes.
    The first episode concerns a criminal scheme for getting “Imedi TV” company. Ugualva was one of the participants of the scheme. The second episode is connected to funding of the UNM party by budgetary money, organizer of which was Ugulava,” stated the Investigative Department.

    “In 2008, owner of “TeleImedi” Ltd control stock was Joseph Kay, who had spent USD 10 mln, by that time for the functioning of the TV Company. The former Defense Minister Davit Kezerashvili met with Joseph Kay on behalf of the Government and cajoled him with a direct threat to surrender “TeleImedi”, with one precondition, Giorgi Ugulava would pay his expenses worth USD 10 mln. By Ugulava’s order, Joseph Kay gave his share to the company “BordekhLimited” registered in Panama under Davit Kezerashvili’s control, and the money was paid by the following plan:

    Giorgi Ugulava made deal with the owners of “Akhali Rike” Ltd, that Rike territory purchased by them in USD 7 000 000 in 2006 would fictitiously be bought in Gel 17 000 000 by City Hall and USD 10 000 000 would be designated to be paid to Joseph Kay.

    Tbilisi City Hall issued decree on 29 December 2008, according to which from the “Old town rehabilitation and development foundation”, founded by Tbilisi City Hall, Akhali Rike” Ltd was transferred USD 17 000 000 to purchase the Rike territory.

    Then fictitious agreement was signed between Akhali Rike management and Joseph Kay’s company. USD 8 811 189 was transferred to Joseph Kay’s company from the account of “Akhali Rike” Ltd. TV Company “Imedi” was misappropriated by embezzling budgetary money and then by money laundering.

    The second episode is connected to funding of the UNM by budgetary money, By his order, on December 31st 2009, at “Tbilservice group” Ltd Public relations department was set up to deliver money for UNM activists. 764 activists –so called party coordinators were employed fictitiously, who didn’t work for a single day and they carried out party activities.

  2. “Forbes Estimates Ivanishvili’s Wealth at USD 5.3 bln,” http://www.civil.ge/eng/article.php?id=25817

    But BI’s transparency declaration only shows $275 million in cash, securities and assets. There are a lot of real estate properties, but almost all of them are in Georgia. So where’s the $5 BILLION? And if it exists, why isn’t doesn’t the declaration comply with the law?

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