The Prosecutor’s Office of Georgia has launched criminal proceedings against the parents of convicted Giorgi Bachiashvili, accusing them of assisting in the legalization of illegally obtained income.

“As publicly known, in 2015–2017, Giorgi Bachiashvili, the legal owner and administrator of cryptocurrency generated from mining investments belonging to Bidzina Ivanishvili, failed to transfer the corresponding assets to the investor and illegally appropriated 8,986.8675 bitcoins. He then proceeded to legalize the misappropriated assets.

The ongoing investigation revealed that Bachiashvili also involved his parents in laundering part of the assets. With their assistance, funds and assets were transferred from abroad to Georgia, accumulated and mixed with other holdings in controlled accounts, then sold or reinvested. The proceeds were transferred back to accounts under Bachiashvili’s control, effectively disguising the true origin, ownership, and movement of the assets.

As a result, between 2017 and 2023, Bachiashvili, with his parents’ help, legalized illegal income amounting to 2,944,957 USD and 1,097,187 GEL.

Formal charges have been issued against both individuals under Article 25 of the Criminal Code of Georgia for the crime stipulated in Article 194, Part 3, Subparagraph “c,” which carries a prison sentence of 9 to 12 years. The Prosecutor’s Office will apply to the court within the statutory timeframe to request a preventive measure,” the Prosecutor’s Office stated.