Mamuka Khazaradze

He graduated from Tbilisi Technical University in 1988 and also holds an executive degree from Harvard Business School, where he studied during 1998–2000.[4] In 2014, Khazaradze was awarded EY Entrepreneur of the Year in Georgia – the first such award to a Georgian business.[5]

He was awarded the Presidential Order of Excellence in 2010.[6]

JSC TBC Bank completed its London Stock Exchange IPO in June 2014, raising US$256 million and listing 40% of the Bank's shares.[7] The IPO valued the Bank at US$640 million.[8] The Bank listed its UK-incorporated holding parent company, TBC Bank Group PLC on the Premium Segment of the London Stock Exchange in 2016[9] and joined the FTSE 250 index in 2017.[10]

A criminal charge was filed against Khazaradze and his business partner, alleging that they were involved in money-laundering, after he announced formation of Lelo for Georgia political movement. It was deemed as an attack on political pluralism in Georgia.[19] In 2022, the Tbilisi City Court found Mamuka Khazaradze, Badri Japaridze and Avtandil Tsereteli – initially charged with money-laundering – guilty of fraud and sentenced them to seven years of prison. However, they were not subject to imprisonment as the statute of limitations had already expired by the time of the ruling.[20]

Independent international expert, Pauline David, selected in open competition by Transparency International Georgia, concluded that there was ‘no basis to prove TBC Bank founders Khazaradze, Japaridze committed money laundering’ [21]

The court's decision was deemed as unconstitutional by Georgia's top lawyers, since the prosecution service had never investigated fraud and no due process had been upheld in that regard. Therefore, the court intervened in the functions of the prosecution service by re-qualifying the charge to fraud.[22]

The US Department of State, ALDE Party, Amnesty International, majority of reputable Georgian NGOs all observed the existence of a possible political motivation behind the trial. As the US State Department's 2020 Country Reports on Human Rights Practices observed: "In a March 2019 interview with Imedi TV, Georgian Dream party chair Bidzina Ivanishvili accused Khazaradze of directing an assault against the government. July 2019 charges by the Prosecutor General’s Office came just weeks after Khazaradze’s announcement of his intent to establish a civil movement."[23]

The ALDE Party in the European Union noted in its urgency resolution that the court case, and the interim ruling, was "a clear instance of politicised justice"[24]

In 2023, the case was dismissed by the Supreme Court of Georgia, effectively ending the process in Georgia. However, Khazaradze has pledged to transfer the couse to the European Court of Human Rights in Strassbourg to seek truth.