Prosecutor’s Office launches criminal proceedings against Davit and Giorgi Peikrishvilis on charges of legalizing illicit revenues

The General Prosecutor’s Office of Georgia launched criminal proceedings against brothers Davit and Giorgi Peikrishvilis on charges of legalizing illicit revenues in large amounts.

According to the Prosecutor’s Office, the investigation established that brothers Peikrishvilis devised a criminal scheme to launder a particularly large amount of assets of unsubstantiated origin.

Through the criminal scheme, between 2020 and 2026, the brothers accumulated funds equivalent to approximately 10 million GEL in bank accounts. The money was utilized for the accused individuals’ personal needs; specifically, money went toward settling banking obligations and purchasing real estate and movable property in their names and the names of associated persons.

David and Giorgi Peikrishvili were charged under Article 194, Part 2, Subparagraph “a” and Part 3, Subparagraph “c” of the Criminal Code of Georgia (legalization of illicit income committed as a group, resulting in the receipt of income on an especially large scale). They face up to 12 years of imprisonment if convicted.