Aide to Former Georgian PM Flees Country Amid Bitcoin Embezzlement Case

Quick Summary:

Venture capitalist George Bachiashvili is on trial for allegedly embezzling investment profits from former Georgian PM Bidzina Ivanishvili.

As such, Transparency International concludes that the charges against Bachiashvili are “devoid of both legal and factual grounds,” a view shared by the investor’s legal representatives, the London- and Washington D.C.-based Amsterdam & Partners.

Bachiashvili repaid the loan to the issuer—the Ivanishvili-owned Cartu Bank—in August and September of 2016, and then roughly a year later, transferred $536,900 in profits to the bank’s director, Nato Khaindrava.

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Article Details

Author / Journalist: Simon Chandler

Category: Crypto

Markets: EstoniaArmeniaGeorgiaUkraine

Topics: Law and Order Bitcoin Georgia Crypto crime Bidzina Ivanishvili George Bachiashvili Embezzling

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-08 @ 02:01:02 (2 days ago)

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Article Length: 678 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Decrypt

News ID: 26733204

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About Decrypt

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