The General Prosecutor’s Office of Georgia has initiated criminal proceedings against Giorgi Bachiashvili, the former head of the Co-Investment Fund, for the alleged misappropriation of a significant amount of cryptocurrency and the subsequent legalization of illicit proceeds.
The statement of the prosecutor's office talks about the embezzled 8,253 bitcoins, which value was USD 39 million during the "embezzlement" period. (At today's exchange rate, this portfolio is worth USD 258 million).
If found guilty, Bachiashvili could face a prison sentence from 9 to 12 years.
The prosecutor’s office will file a petition with the court within the specified legal timeframe, requesting the imposition of an appropriate restraining measure against the accused.
