Employees of the Investigative Service of the Ministry of Finance detained Davit Tabidze, the former Executive Director of the Municipal Development Fund of Georgia, on charges of abuse of official authority. This was announced during a briefing at the Investigative Service of the Ministry of Finance.
According to the agency, the fund’s program manager and project manager were also detained in connection with this case and fully cooperated with the investigation. They were granted bail as a preventive measure by the court.
The investigation is being conducted under Part 1 of Article 332, Parts 2 and 3 of Article 180, Parts 2 and 3 of Article 194, and Part 2 of Article 362 of the Criminal Code of Georgia, which provide for imprisonment ranging from 9 to 12 years.
“As is already known to the public, the heads of LLC ‘Lagi Capital’ were detained for the fraudulent appropriation of 9,365,801 GEL allocated for the rehabilitation of 30 kindergartens and for the legalization of 1,211,000 GEL in illicit income.
The investigation established that they were aware that the advance payment requests submitted by LLC ‘Lagi Capital’ from July 2023 to May 2024 were unjustified and only partially secured. The aforementioned individuals abused their official authority and, with the intent of granting preferential treatment, despite the fact that the advance received by the company in July 2023 was not spent for its intended purpose, issued an unjustified advance of 11,218,380 GEL to LLC ‘Lagi Capital’ for kindergarten rehabilitation in 2023-2024. Of this amount, the heads of LLC ‘Lagi Capital’ fraudulently appropriated 9,365,801 GEL.
The investigation is being conducted under Part 1 of Article 332, Parts 2 and 3 of Article 180, Parts 2 and 3 of Article 194, and Part 2 of Article 362 of the Criminal Code of Georgia, which provide for imprisonment ranging from 9 to 12 years.
The investigation continues intensively to identify other individuals involved in the crime and to take appropriate action,” the agency stated.
The Investigative Service of the Ministry of Finance has detained Davit Tabidze, the former Executive Director of the Municipal Development Fund
