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June 24, 2011 / joninews

Merani Development Project, Warwichshire and Mohawk Trading Company

New investigation, Iranian weapons money, Merani Development Project

Joint Stock Company, Bank of Georgia, (Archil Gachechladze) G&K development, Mohawk Trading Company, Warwickshire Estates  Limited, Georgian Representation, LLC., … AND Islamic Republic of Iran???

The latest shady deal is founded on a 11,350,00 refinancing of a TBC Bank Loan, and for construction/refurbishment construction, financing – USD 10,000,000. Lots of dirt to dig up,  making hay whilst the sun shines, and  lots of dirt to dig up! The starting point is working around and back from a fixed loan to finance Merani Reconstruction, total amount involves refinancing costs and so called construction and refurbishment (1,350,000 plus 10,0000), of existing building on Rustaveli Avenue 42. The APR at the time of 15.5 percent. There is a dodgy company, which may or may not exist with seals of so called British companies under offshore stamps, starting out with Warwickshire Estates Limited, the English in the documents is typical Georgian English.

Merani Development Project: money laundering in Georgia???

42 Rustaveli, I  just spoke to these people; things are becoming very corrupt in Georgia, especially after the 26th of May. Those in the shadows are planning to bring down, discredit the current government of Georgia, this is part of a much larger plan, hatched up with Russian intelligence.  It is clearly stated, an escape clause in the document from the Bank of Georgia, which is considered a election fund bank, providing support to the reelection of the ruling party, dated July 7, 2010 that "this document does not represent an obligation of Bank of Georgia to finance any project."

That matter clearly shows that other sources of money are in the shadows, and that the project budget must be verified by a third party (acceptable to the Bank of Georgia).  Another key clause, at such time as this goes to full-scale investigation, is the history of the project, and that "one of the most important conditions for such financing is the existence of contract with "Zara" which is satisfactory to the Bank of Georgia. One needs only to look into the network of Mr. Marc Bonner, and his application for a loan for "commercial and residential development, and how the Bank of Georgia is in principle ready to finance up to $ 11.3 mln for Merani development subject to  a number of conditions, among other things, all the necessary permits, and the name of the third party monitoring agent (acceptable to the Bank).

I am digging into this now: NB –

– Been trying to reach our friend, journalist, all day, little shit does not answer his phone, latest hot story, involving two Georgian Banks, Bank of Georgia and TBC bank, and lots of bogus offshore paperwork on this deal, as you know better than me.

"There is a man who needs your helps to conduct investigation. this man says that government wants to deprive his property specifically house which is on Rustaveli avenue there is a link u can see . Today he has court procedures about this but he does not expects a good results for him   from court .

Batono Joni, gushin mteli dge velodebodit tqvengan pasuxs, mxolod dges momivida tqveni mesiji.madlobas gixdit gamoxmaurebistvis.rac sheexeba problemas, vecdebi agixsnat mokled da konkretulad, tumca asaxsneli sakmaod bevria. problema imasshia, rom chveni mtavroba meriis da reestis meshveobit gvartmevs kutvnil sakutrebas,anu sacxovrebel parts, romelic mdebareobs russtavelis gamzirze. dawyebulia ngreva, gigzavnit links http://www.maestro.ge/?address=uc&id=22966&page=5. (tu linki ar gaixsna, shegidzliat ixilot www.maestro.ge 22.06.2011, axali ambebi 15:00 sadao farTi). minda mogaxsenot rom araertxel gamogvidzaxebia televizia, titqmis kvela opoziciur partiashi vikavit misulebi daxmarebistvis, veravin ver gvexmareba.araertma advokatma uari gvitxra am saqmis warmoebaze, eshiniat. mshvenivrad icit, rom rustavelis gamziri sakmaod respektabeluri ubania tbilisshi, chveni sacxovrebeli partis adgilas wamowyebulia grandiozuli proeqti, miuxedavat imisa rom gvingrevs binas kerdzo kompania, sabutebis gayalbebashi arian chareulni didi chinovnikebi. yvelanairi binis sakutrebis damadasturebeli sabutebi gvaqvs xelze. batono jefri tu ki ramis gaketeba shegizliat, dzalian gtxovt dagvexmarot tqvens jurnalistur gamodziebashi, martlac rom agaravis imedi ar gvaqvs. dges gvaqvs
sasamartlo reestrtan, tumca mshvenivrad vicit rogorc damtavrdeba.

This appears NOT to be an isolated case.

I will explain you in short, but it is long story. The problem is that the government with the help of municipality office and property register office is trying to take away our own property, which is located on Rustaveli ave, the destroying process of the building has been already started . I am sending you a link http://www.maestro.ge/?address=uc&id=22966&page=5 (if its not opened you can find it on www.maestro.ge 22.06.2011  on news at 15:00 .

I want to admit that we invited TV journalists many times, we asked them all almost the opposition parties, albeit in vain; they can not help us, the lawyers are trying  not to be involved in this case. You know Rustaveli avenue is a very prestigious place in Tbilisi. On our living place has been started a building  project, despite of that a private company is destroying our apartments. Falsification process of the documents involved governmental officials. We have all the  documents which prove that we are the the actual owners of the property.

Please help us to conduct journalist investigation about this issue, we really have no hope of anyone but you. Today we will go to court with property register department but it is clear for us what will be the result of this court proceeding.

Background why pushing now-to-get-money-and-run:

There are benefits to be riding with the fox and running with the hounds. The more effort the MIA puts into the cover up the more people will lose trust in the government, and that mistrust and anger will continue to be directed at the leadership as usual. Those who speak out and talk about such things only gain credibility as a naturally occurring result.

The May 26 alleged "coup" attempt was not a one off event with no follow up stage; it created a situation whereby the government is now damned no matter what course of action it takes in reacting in the post crackdown scenario. This is part of a long term strategy at regime destabilization involving  a wide range of stakeholders with the aim of facilitating the launch and debut of a new political party to take the lead in running a more effective "managed democracy". The on going creation of a police state and other problems such as failed integration into European structures will be blamed on the old leadership.

And we can continue to ask the question: Who benefits?

It is all about game theory, and real strategists think not in 4 or 5 year terms, but over a longer term, and those in power work only work at maintaining the established system for now and staying out of jail.

http://www.tbilisi.gov.ge/index.php?lang_id=ENG&sec_id=3222

This is part of something really big, latest scandal.

New investigation, Iranian weapons money, Merani Development Project JSC Bank of Georgia, (Archil Gachechladze) G&K development, Mohawk Trading Company, Warwickshire Estates Limited, Georgian Representation, LLC., Islamic Republic of Iran. The whole deal is founded on a 11,350,00 refinancing of a TBC Bank Loan, and for construction/refurbishment construction, financing – USD 10,000,000

Tip of Iceberg, Georgian Reconstruction and Development Company (GRDC)

TBC/EBRD/WORLD BANK – GRDC Affair

As for Georgia the place is already over-stocked with half built
apartments which they can't sell, which makes the whole TBC/EBRD/GRDC affair seem even more suspicious. If you read GRDC's web site (no sign of a cinema there anymore) they appear to be drumming up a lot of investment (more from EBRD, plus others) but they seem to be sitting on their assets rather than us seeing GRDC signboards at construction sites everywhere.

GRDC is a leading real estate and development company, with operations in the Republic of Georgia. GRDC founded in 2003, invests in and develops  office, retail, resort and prime residential properties. Since formation, GRDC has delivered net IRR performance of approximately 50%. Employing over 30 direct staff that includes property professionals from the Netherlands, UK, USA, Turkey and Israel, GRDC holds 18 real estate assets recently valued by independent property consultants at over USD 300 million. Adopting this valuation and adding the proceeds from a recent equity fund raising, the net asset value of the company is circa USD 180 million. GRDC was originally backed by a number of wealthy private individuals from Holland, Switzerland, France, UK and Georgia. Though these individuals remain key investors, the equity base has recently been enhanced by a USD105 million injection by EBRD and from leading
international funds and banks. Complementing the above funds, a debt facility of around USD 100 million has been allocated by EBRD and IFC (part of the World Bank Group).

Salient points.

Leading Georgian property developer, THE GEORGIAN RECONSTRUCTION AND DEVELOPMENT COMPANY (GRDC), has closed a US$105 million institutional equity round for new shares in the company ahead of a stock exchange listing planned for 2008.

GRDC has also secured US$42.6 million in construction finance from EBRD in 2007, and latterly an additional US$48 million from IFC, the commercial arm of the World Bank.

 About The Georgian Reconstruction and Development Company. 

GRDC was founded in 2003 by Dutch financier, Bob Meijer, building on a ten year business relationship in Georgia with co-founders Mamuka Khazaradze and Badri Japaridze. The company has amassed a portfolio of 22 prime sites across all property sectors principally in and around the capital Tbilisi. The portfolio totals a potential of over 2 million square meters with a completed value of circa US$3 billion. GRDC completed its pilot project, the fully let Green Building(www.greenbuilding.ge), in 2007 and, amongst its other projects, is currently refurbishing the Tbilisi Central Railway Station to include a shopping center. Work on its landmark scheme, an office and residential complex at 7 Freedom Square, commences in early 2008.

I like the use of the term "completed value", and the figures they dream up. I sometimes wonder if they aren't scamming people to get their investment back. They paid 7 times the asking price (USD 182 million for a 26.6 million plot) for Lisi Lake, where they plan to build a resort. It just sounds like they bought at the top of the market to me. I go up there quite frequently (I was there yesterday) and I just can't think where all of these "affluent types" are going to come from, who will make it pay. Same problem they had with the Cinema – a grand design but there simply aren't enough people with enough disposable income around to make it pay. If they go for a tourist resort then where would they all come from? Russia?? They'd better hope for that door to open again.

The only project they've completed since they were founded was the refurbishment of a small building near Marjanishvili TBC Bank. I don't know how far on they are with refurbishing the train station (if they've started) and the big building they're supposed to be starting on Freedom Square was just at the design concept stage (i.e. some frilly artist's impressions) a few months ago, so I'd be surprised to see any major construction work starting there any time soon. But I could be wrong.

I wonder which stock exchange they're planning listing on? As for Georgia the place is already over-stocked with half built apartments which they can't sell, which makes the whole TBC/EBRD/GRDC affair seem even more suspicious. If you read GRDC's web site (no sign of a cinema there anymore) they appear to be drumming up a lot of investment (more from EBRD, plus others) but they seem to be sitting on their assets rather than us seeing GRDC signboards at construction sites everywhere. Take a look at their 15th January Press Release

More About Georgian Reconstruction and Development Company

GRDC was founded in 2003 by Dutch financier, Bob Meijer, building on a ten year business relationship in Georgia with co-founders Mamuka Khazaradze and Badri Japaridze. The company has amassed a portfolio of 22 prime sites across all property sectors principally in and around the capital, Tbilisi. The portfolio totals a potential of over 2 million square metres with a completed value of circa US$3billion. GRDC completed its pilot project, the fully let Green Building(www.greenbuilding.ge), in 2007 and, amongst its other projects, in refurbishing the Tbilisi Central Railway Station to include a shopping center. Work on its landmark scheme, an office and residential complex at 7 Freedom Square, commences in early 2008.

Analysis and Commentary

I like the use of the term "completed value", and the figures they dream up. I sometimes wonder if they aren't scamming people to get their investment back. They paid 7 times the asking price (USD 182 million for a 26.6 million plot) for Lisi Lake, where they plan to build a resort. It just sounds like they bought at the top of the market to me. I go up there quite frequently (I was there yesterday) and I just can't think where all of these "affluent types" are going to come from, who will make it pay. Same problem they had with the Cinema – a grand design but there simply aren't enough people with enough disposable income around to make it pay. If they go for a tourist resort then where would they all come from? Russia??

They'd better hope for that door to open again. The only project they've completed since they were founded, was the refurbishment of a small building near Marjanishvili TBC Bank. I don't know how far on they are with refurbishing various buildings (if they've really started)and the big building they're supposed to be starting on Freedom Square was just at the design concept stage (i.e. some frilly artist's impressions) but sits as a empty shell, so I'd be surprised to see any major construction work starting there any time soon.

And don't forget about the former finance minister…Lexo Alexishvili, the former finance minister, will be director of Progress-Bank, part of Kala-Capital, which will launch its operations this summer. Alexishvili will also be a member of the board of directors of Kala Capital.

First real bit of news I could find about them… (March 2008)
http://www.civil.ge/eng/article.php?id=17489&search=kala%20capital. From nowhere to owning a bank and all the hydro plants in 3 months. Where did all the money come from – one Georgian soccer player? Italian Mob? Probably unrelated – but widely known piece of information from 2001…

Georgian Soccer Star Brother Murder Suspects Arrested

http://www.civil.ge/eng/article.php?id=11848

http://www.kalacapital.com/ourBusiness.php

This is the company set up at the top of the property market with the soccer star Kakha Kaladze as its puppet fugurehead. You may remember seeing huge – building high – billboards of the guy several years ago. I'm sure I remember reading somewhere that they had problems at launch, because they were targeting an already crumbling market – I think they originally wanted to just open another bank and lend money out to people, and that was before the world financial crisis.  Looks like they got their fingers into other pies. Maybe Italian mafia money on there somewhere? Khaladze plays for AC Milan – one of the world's top clubs – the Italian Manchester United.

Don't know about New Energy and other scmas,  – maybe the same, but sounds like one of these "buzz" names like "New Construction Company" and "New Mechanical Company" – both of which were GRDC a.k.a. TBC bank.

In unrelated news (but who knows?)

Bad smell is a company in Poti called Mantek.

Procurement guy is ex-KBR & ex-RAKIA, intel circuit people tell me there is a direct link with US Ambassador John Bass and KRB. This is likely why the order was given to crack heads on May 26, 2011.

"Mantek Ltd providing maintenance and technology services established its offices in Poti, Georgia The company  announced an opening for the position of Mechanical Engineer."

http://hr.com.ge/ViewVacancy.aspx?ID=27393&lang=1

I did a quick dig around and found their procurement guy on linkedin

http://www.linkedin.com/pub/gvantsa-chikovani/13/753/939

Seems he's ex-KBR and ex-RAKIA – I wouldn't mind betting there's another couple of former RAKIA people lurking in this company somewhere, as well as logistics people that were working with KBR.

Looks to me like they've been set up to do all of the mechanical, plumbing (& possibly electrical) works on the Free Industrial Zone. Don't know much about them – looks like they were set up earlier this year – interesting how these companies can spring up – zero track record of doing work of this kind and get huge contracts to do this kind of work. The words "no bid" spring to mind when talking of KBR – and RAKIA?

Anything which starts with RAK is probably worthy of a nose around. Meanwhile, our governments are just obsessed as ever with a military occupation of the globe, as much as our bankers are with their heads up their asses screwing up the world economic orders. This region here, Caucasus and Central Asia, are in the same shit that all of South America was in the 1970s, when our CIA, NED and the Westminister Foundation like agencies continue to planted their evil seeds every where they could, and hence all the "desaperacidos" [the disappeared ones], in addition to those who disappeared on May 26, 2011.

Today, down in South America, all those US fake democracy 70s programs failed, except in Colombia, where cocaine works hand-in-hand with the US State Dept and right wing anti rebel government forces [who also deal in cocaine]. Now the Beltway/Pentagon strategy is here, ….. so I guess we can look forward to 30 years of misery here now too.

There was another download last night on arms trafficking, and now trying to focus the attention to the activities of KBR and logistic support services. Seems that different banks are being used to bail out other banks, and that is real shell game, especially the nexus between Bank of Georgia and TBC.

-- http://www.fastmail.fm - IMAP accessible web-mail
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9 Comments

Leave a Comment
  1. Joni Simonishvili / Jun 25 2011 6:30 am

    Need to go to the Public Defender immediately…

    You did a great job in such a short time. I read everything that you sent me. I can not say thank you because I felt very sad and disgusting of all this dirt. They are striving for power in politics, then to tear off a piece a little more. Where is the point of saturation?

    Any normal person to learn that the people expelled from their homes, troubled and do not believe in reality.

    These families are native of Tbilisi, but it’s not important for the city hall and the government. The politicians love money and are willing to sell all the houses, land, homeland, its citizens.

    No wonder Iran has a visa-free entry to Georgia. Just another game of corrupted Georgian politicians, no matter who comes next in our government, things will be the same. The main thing is that people no longer trust anyone, anyone; democracy was not and never will be in Georgia ….

  2. Joni Simonishvili / Jun 25 2011 1:02 pm

    It might be good to try asking the Human Rights Center or Public Defender lawyer to check out Tbilisi case N2/16885-09 – this is just an extract (you need to pay a subscription to see it all) but the records should be available locally to the right people.

    It seems TBC took Warwickshire to court. I’m sure the case record will turn up some more worms…

    Extract

    R E S O L U T I O N

    (On public announcement of the court notice and summons)

    Tbilisi case N2/16885-09

    “07” October 2009

    Tbilisi City Court Collegium for Civil Cases

    Judge Giorgi Sulakadze

    Plaintiff JSC “TBC Bank”

    Respondents “Art House +”, Constantine

    Baramashvili,”Warwickshire Estates Limited” LTD.

    http://london-gazette.vlex.co.uk/vid/-68712269

    • joninews / Jun 25 2011 1:12 pm

      “You did a great job in such a short time. I read everything that you sent me. I can not say thank you because I felt very sad and disgusting of all this dirt. They are striving for power in politics, then to tear off a piece a little more. Where is the point of saturation? Any normal person to learn that the people expelled from their homes, troubled and do not believe in reality. These families are native of Tbilisi, but it’s not important for the City Hall and the government. The politicians love money and are willing to sell all the houses, land, homeland, its citizens. No wonder Iran has a visa-free entry to Georgia. Just another game of corrupted Georgian politicians, no matter who comes next in our government, things will be the same. The main thing is that people no longer trust anyone, anyone; democracy was not and never will be in Georgia.

      Contrary to all misperceptions caused by “gossip TVs” and “some dirty newspapers”, Georgia is establishing “a good judiciary” enjoying with high public confidence, President Saakashvili said.

      http://www.civil.ge/eng/article.php?id=23667

      and a 99% conviction rate to boot suggests they’re doing an excellent job!

      Misha’s been sounding rather “rattled” recently – he’s having to counter critcism rather a lot. I wonder why?

  3. Joni Simonishvili / Jun 27 2011 12:12 pm

    Ask your legal eagle friend at the Human Rights Center to do some digging on that Tbilisi Court case number maybe there’s something in Georgian he can turn up. I did a search on this Constantine Baramashvili who was also mentioned (also Konstantine, Konstantin, Kote) but drew a blank on the English language websites. Maybe if someone searched in Georgian?

    The only thing of interest while searching for Baramashvili is that this is the same family name as Shevardnadze’s nephew, Avto, who was quite well placed in the old days. Maybe part of the same family?

    http://london-gazette.vlex.co.uk/vid/-68712269
    R E S O L U T I O N – The London Gazette – October 20, 2009 – Id 68712269 – vLex
    london-gazette.vlex.co.uk
    Id. vLex: VLEX-68712269 – R E S O L U T I O N – The London Gazette – October 20, 2009 – (On public announcement of the court notice and summons) – Tbilisi case N2/16885-09 – 07 October 2009 –

  4. David / Jul 6 2011 1:06 pm

    Joni its very interesting article, I want to know more, because its very important for me, please contact with me on facebook. thanks.

    • David / Jul 6 2011 1:16 pm
    • joninews / Jul 18 2011 11:28 am

      I have all details, this is a deal between TBC Bank, Bank of Georgia and the nephew to Shevardnadze. Send me an email or contact me and we can meet. Contact me on facebook, under name of Joni Simonishvili

  5. David / Aug 24 2011 7:21 am

    Joni i wrote to you on facebook, but there is no answer from you, please contact with me, my name on facebook David Lejava, my e-mail – lejava93@mail.ru. I’ll wait , thank you.

    • joninews / Oct 10 2011 11:40 pm

      find facebook for joni simonishvli

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