Tbilisi, Georgia — Georgian authorities have arrested Giorgi Bachiashvili, a former top aide to billionaire and ex-Prime Minister Bidzina Ivanishvili, on charges of embezzling more than $800 million in cryptocurrency.
Bachiashvili, once head of Ivanishvili’s investment fund, was apprehended near Georgia’s southern border following an anonymous tip-off, according to the State Security Service. He now also faces investigation for illegal border crossing, allegedly fleeing Georgia in March by hiding in a vehicle and escaping through Armenia.
The charges stem from a 2015 loan issued by Ivanishvili’s Cartu Bank, which Bachiashvili allegedly misused to fund a cryptocurrency mining operation. He has been sentenced to 11 years in prison.
Bachiashvili, however, has rejected the accusations, claiming they are politically driven due to his support for Ukraine in contrast to Ivanishvili’s increasingly pro-Russian political stance.
His lawyer, Robert Amsterdam, said Bachiashvili was forcibly returned to Georgia and now faces a risk of torture.
Anti-corruption group Transparency International Georgia has raised concerns about the case, citing a lack of clear evidence and suggesting the charges reflect Ivanishvili’s personal interests.
Ivanishvili, Georgia’s richest man and founder of the ruling Georgian Dream party, has not commented. The U.S. sanctioned him in December for stifling protests and stalling EU accession talks.