Tbilisi City Court has sentenced Vladimer iian, owner of Crystal Group, to imprisonment as a preventive measure.
The prosecution requested that Stepanian be detained, citing concerns that he might influence witnesses, destroy evidence, or conceal information.
During the trial, Stepanian 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 Stepanian also held a construction permit; however, he had constructed more residential buildings than authorised. The prosecutor acknowledged that Stepanian 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 Stepanian 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 Stepanian faces a prison sentence of between 9 and 12 years.
