Law enforcement agencies in Georgia have arrested Georgy Bachiashvili, a former partner of billionaire Bidzina Ivanishvili. He is accused of stealing a large amount of crypto assets, for which he was to pay up to 9000 BTC. However, after the verdict was announced, Bachiashvili fled.
This is reported by Finway
Bachiashvili’s Arrest and Charges
Georgy Bachiashvili, the former head of the Co-Investment Fund, was arrested by the State Security Service of Georgia (SSG). In 2023, he was charged with stealing crypto assets worth $39.2 million, after which the court ordered him to pay Bidzina Ivanishvili 9000 BTC. According to official reports, the arrest took place based on an anonymous tip while Bachiashvili was in the area between the checkpoints “Red Bridge” and “Sadakhlo.”
Political Allegations and Escape
The law firm Amsterdam & Partners, representing Bachiashvili’s interests, claims that their client was forcibly returned to Georgia, considering the criminal prosecution to be politically motivated. Shortly before his arrest, Bachiashvili gave an interview to The Guardian, in which he spoke about a conspiracy aimed at his removal. After the verdict was announced, he received an absentia sentence of 11 years in prison, which also led to additional cases regarding illegal border crossing and failure to fulfill official duties.
At present, Bachiashvili holds citizenship in both Georgia and Russia. Furthermore, the court ordered him to pay Ivanishvili approximately 9000 BTC, which at the time of writing amounts to $987 million. In case of non-payment, compensation will be collected through the sale of his assets.
“Ivanishvili accused Bachiashvili of stealing crypto assets worth $39.2 million”
Earlier, there were reports of a “crypto consultant” in Zhytomyr suspected of stealing 3.7 million hryvnias.