National Bank issues statement regarding investigation launched by the Prosecutor's Office against Nana Keinishvili concerning "illegal participation in entrepreneurial activity"
The National Bank of Georgia has issued a statement regarding the investigation initiated by the Prosecutor General's Office of Georgia against Nana Keinishvili, a member of the National Bank's Board.
According to the statement, the National Bank Board will consider the issue of Nana Keinishvili's temporary recusal at its next meeting, pending the outcome of the investigation and the establishment of the facts.
"The National Bank of Georgia has reviewed the circumstances outlined in letters from representatives of 'Bitexchange' LLC and conducted a preliminary internal assessment within the scope of its competence. However, since the legal verification of the facts mentioned in the letter falls outside the mandate defined by the legislation governing the National Bank of Georgia, the materials have been forwarded to the competent authorities. We hope that the objective truth regarding these circumstances will be established in a timely manner. Furthermore, pending the outcome of the investigation and until full clarity regarding the matter is established—and in light of the National Bank of Georgia’s high reputational standards—the National Bank’s Board will consider the issue of Nana Qeinishvili’s temporary recusal from Board meetings at its upcoming session.
Regarding the virtual asset service provider Bitexchange LLC, we inform you that the entity has been fined by the National Bank for violating regulations on preventing money laundering and the financing of terrorism, following a scheduled inspection," reads the statement.
For context, the Prosecutor's Office of Georgia has launched an investigation concerning Nana Qeinishvili, a member of the National Bank’s Board. According to the information released by the Prosecutor's Office, the investigation was initiated under the article covering illegal participation in entrepreneurial activities by a public official or a person of equivalent status. The Prosecutor's Office stated that the investigation began based on statements regarding the executives of Bitexchange LLC, which were forwarded by the National Bank.
