Court of Appeals begins hearing in former Co-Investment Fund Head Giorgi Bachiashvili's case
Court of Appeals begins hearing in former Co-Investment Fund Head Giorgi Bachiashvili's case

The Tbilisi Court of Appeals has commenced proceedings in the case of Giorgi Bachiashvili, the former head of the Co-Investment Fund, who has appealed the decision of the Tbilisi City Court.

Giorgi Bachiashvili was detained on May 27 amid allegations by the prosecutor’s office accusing him of embezzling funds belonging to Bidzina Ivanishvili. The sum involved is USD 39 million.

According to prosecutors, in the summer of 2015, Bachiashvili invested in cryptocurrency production and mining, specifically Bitcoin, using funds personally mobilised by him and transferred by the investor, in this case, Bidzina Ivanishvili, and failed to return the due amount to the investor.