The Prosecutor’s Office of Georgia has arrested the director and co-owner of the construction company Isani Comfort for embezzling funds from 73 citizens and laundering the illegally obtained income. Although the agency did not disclose his name, business registry records confirm the detainee is Giorgi Gujabidze, who owns a 49.99% stake in the company. He was arrested on December 2 by court order.
According to investigators, Isani Comfort was contracted to build a multifunctional residential complex on Moscow Avenue in Tbilisi. Instead, the company’s director created several affiliated firms and diverted 3,596,254 GEL, money paid by citizens for apartments, into his personal accounts and the accounts of these companies. The funds were then used for personal purposes.
To conceal the illicit origin of the money, the defendant purchased real estate worth USD 160,000 and GEL 23,290, as well as goods and tangible assets valued at GEL 83,560, through the companies he had created. The investigation also found that he defrauded two additional citizens out of 119,273 GEL by signing property sale agreements and later reselling the same real estate to other buyers.
Gujabidze is charged with large-scale embezzlement, money laundering involving particularly large income, and fraud committed through abuse of official position. The charges fall under Articles 182, 194, and 180 of the Criminal Code of Georgia and carry a potential sentence of 9 to 12 years in prison.
