The Investigation Service of Georgia’s Ministry of Finance has arrested Vladimir Stepaniani, founder of Crystal Group, for allegedly obtaining GEL 1.8 million in illegal income.
According to investigators, Stepaniani, who is the head of LLC “Bakuriani Business Group” and LLC “Hotels Management Group” operating under the Crystal Group brand, illegally constructed five hotel-apartments in Bakuriani’s Didveli area without the necessary building permits. The group also built a private cable car, ski slope, and toboggan run, accessible exclusively to Crystal Group guests.
Born in 1972 and based in Bakuriani, Stepaniani’s business activities are heavily concentrated in the resort region. Since founding Crystal Group in 2008, he has expanded from hotel operations into real estate development and management.
Below is a list of Stepaniani’s known business interests, according to Georgia’s Business Register:
- Crystal Group / Bakuriani Business Group LLC – 100% owned by Vladimir Stepaniani. The company’s main profile includes hotel development, real estate construction, and management.
- Hotel Management Group LLC (HMG) – Founded in 2010, fully owned by Stepaniani. Operates the well-known “Crystal Hotel & Spa” in Bakuriani.
- Buenos Aires LLC – Established in 2013 following a split from All Seasons Resort LLC. Ownership is divided among:
- Vladimir Stepaniani – 34.167%
- Giorgi Ramishvili – 27.5%
- Alexi Topuria – 22.639%
- Tamaz Ramishvili – 15.694%
- Saga-Bakuriani LLC – Founded in 2018, jointly owned 50/50 by Stepaniani and Merab Tsagareishvili.
- Crystalville LLC – Created in 2012 in Bakuriani, focused on apartment sales and rentals; 100% owned by Stepaniani.
- Crystalservice LLC – Founded in 2013; 100% owned by Stepaniani, providing management and service operations.
- Nikora Bakuriani LLC – A joint venture with the Nikora supermarket chain, each party owning 50%.
In addition to his business ventures, Stepaniani has made notable political donations:
- GEL 50,000 to Georgian Dream in 2021
- GEL 60,000 to Salome Zurabishvili’s independent campaign in 2018
- GEL 2,500 to the United National Movement in 2012
