The Swiss newspaper Tribune De Geneve writes that in 2006 when David Kezerashvili was appointed the Georgian Defense Minister, he owned only one flat. But his assets grew after he resigned in December 2008.
Tribune De Geneve reports that ten days after Kezerashvili’s resignation, ten of his trustees founded three offshore companies. According to the Panama Papers, an account was opened for one of those companies in Swiss Bank BCGE. 20 million Swiss francs were transferred to the account. 25 million more were transferred to the banks ABN AMRO and BNP Paribas.
The Swiss newspaper also writes that in the beginning of 2013, an investigation was launched against Kezerashvili due to corruption. A trustee of Kezerashvili contacted the Panamanian legal services company Mossack Fonseca to register documents and back date them. Before the start of the trial, Kezerashvili transferred his assets to the two other offshore companies.
On April 7, 2016 the Prosecutor’s Office of Switzerland started to research the activities of several banks, including BCGE.
