On charges of assisting in the legalization of illegal income, criminal proceedings have been launched against the parents of Giorgi Bachiashvili – Prosecutor’s Office of Georgia

The Prosecutor’s Office of Georgia has initiated criminal proceedings against the parents of convicted Giorgi Bachiashvili on charges of assisting in the legalization of illegal income, the agency said in a released statement.

“As the public is aware, in 2015–2017, Giorgi Bachiashvili, who had possession and management of cryptocurrency owned by Bidzina Ivanishvili and mined as a result of investment in mining, failed to transfer the corresponding amount of virtual assets to the investor and unlawfully appropriated 8,986.8675 bitcoins belonging to Bidzina Ivanishvili, after which he carried out the legalization of the misappropriated assets.

In the course of the ongoing investigation, it was established that, in order to give part of the illegally obtained assets a lawful appearance, Giorgi Bachiashvili also involved his own parents. Specifically, with the support and assistance of A.B. and M.R., operations were carried out to transfer funds/assets from abroad into the jurisdiction of Georgia, to accumulate them in personal and Giorgi Bachiashvili-controlled accounts, to mix them with other assets, to acquire property, to sell it later, and to transfer the resulting funds to accounts controlled by Giorgi Bachiashvili, as well as to carry out actions aimed at final placement, separation, and integration. In this way, illegal assets were accumulated in the financial system and engaged in various types of transactions. The true nature, source of origin, location, placement, movement, and ownership rights of these assets were concealed and disguised.

As a result, in 2017–2023, Giorgi Bachiashvili, with the help of his parents, legalized illegal income amounting to 2,944,957 US dollars and 1,097,187 lari.

Both individuals have been formally charged under Article 25 and Article 194, Part 3, Subparagraph “g” of the Criminal Code of Georgia, which provides for a penalty of imprisonment from 9 to 12 years.

The Prosecutor’s Office will, within the timeframe established by law, apply to the court with a motion for a preventive measure,” the statement reads.