Tbilisi City Court has sentenced Vladimer Stepanyan, owner of Crystal Group, to imprisonment as a preventive measure.

The prosecution requested that Stepanyan be detained, citing concerns that he might influence witnesses, destroy evidence, or conceal information.

During the trial, Stepanyan did not comment on the case. His lawyer requested his release on bail of GEL 500,000.

Vladimer Stefaniani faces charges of illegal entrepreneurial activity and the legalisation of illicit income. According to lawyer Tamar Merlani, the land on which Stepanyan was carrying out construction was his property.

It was revealed during the proceedings that Stepanyan also held a construction permit; however, he had constructed more residential buildings than authorised. The prosecutor acknowledged that Stepanyan does not deny this.

The prosecution also established that Bakuriani Business Group LLC, a subsidiary of Crystal Group, primarily engaged in the construction and sale of hotel-style residential complexes in Bakuriani. Prosecutors allege that Stepanyan systematically transferred illegally built residential units, generating substantial income, amounting to GEL 1,894,925. To legitimise this large sum, the accused deposited part of the money into the company’s bank accounts and transferred some to his personal assets, subsequently purchasing real estate and movable property in the name of the company, himself, and related parties.

If convicted, Vladimir Stepanyan faces a prison sentence of between 9 and 12 years.