Global law firm Dentons has issued a statement on the case of the founders of the TBC Bank, Mamuka Khazaradze and Badri Japaridze. 

“Dentons Georgia confirms that we will provide professional support to the founders of TBC Bank: Mamuka Khazaradze and Badri Japaridze with respect to the anti-money laundering charges against them.

Our colleagues from Dentons’ London office have also joined the team of advisers and will bring their vast international experience and knowledge to the case.

We hope that the court will share the position and arguments of the defense and will exonerate our clients in a timely manner,” the statement reads.

Mamuka Khazaradze and Badri Japaridze have been formally charged by Georgia’s Prosecutor General's Office for “legalization of illicit income”. 

The two are facing a criminal investigation for alleged breaches of money-laundering legislation, involving up to USD 17 million transaction that took place back in 2008.