TBILISI, October 9 – Georgian prosecutors have opened a criminal investigation into National Bank board member Nana Keinishvili over allegations that she was illegally involved in business activities, Interpressnews reported.
The Prosecutor General’s Office said Friday that the case was opened under Article 337 of the Criminal Code, which covers unlawful participation in business by a public official or equivalent person. The investigation followed complaints from executives of crypto company BitExchange that were forwarded by the National Bank.
According to prosecutors, the complaints and attached audio recordings allege that Keinishvili was involved in business activity, directly controlled a network of companies supervised by the National Bank and had stakes registered in the names of a family member and affiliated people. They also allege that she tried to acquire a share in another regulated company to expand her business interests.
The National Bank said shortly afterward that it had carried out a preliminary internal review but sent the material to law enforcement because determining whether the allegations constituted a crime was outside its mandate. It said its board would consider temporarily removing Keinishvili from board meetings while the investigation is underway.
The bank also said BitExchange had itself been fined following a routine inspection for violating anti-money laundering and counter-terrorist financing rules.
Later Friday, Radio Free Europe/Radio Liberty reported that the National Bank had fined the crypto company 572 million lari after its owner allegedly refused Keinishvili’s demand for a stake in the business. The outlet said it had spent two months investigating the case and had obtained documents and a covert audio recording that it said showed Keinishvili asking BitExchange representatives for a business share.
According to Radio Liberty, the recording was made in 2024 in coordination with Georgia’s State Security Service and was later handed over to the agency, but no legal action followed at the time. The outlet also reported that the National Bank and security service had known about possible violations for months. Those claims have not yet been established by the investigation.
Keinishvili joined the National Bank board in 2023 after then-President Salome Zourabichvili nominated her and parliament approved the appointment. Parliament Speaker Shalva Papuashvili said Friday that questions about how she had been selected should be directed to Zourabichvili, while stressing that the investigation should now determine the facts.
Opposition figures seized on the case to launch accusations of corruption against the Georgian Dream government. Giorgi Sioridze of the opposition party Lelo described the government’s anti-corruption campaign as a struggle between rival clans.
