The post Former Georgian PM’s aide flees country after Bitcoin embezzlement allegations appeared on BitcoinEthereumNews.com.

Former Georgian PM’s aide George Bachiashvili has fled the country following allegations of embezzlement related to Bitcoin investments. According to several reports, the Mission Gate founder and venture capitalist has been under trial for allegedly embezzling investment profits. The latest development comes after a court in Georgia ordered Bachiashvili’s imprisonment for his alleged crimes under his former boss, the former Georgian PM Bidzina Ivanishvili. According to reports, Bachiashvili had been given a bail of about 2.5 million GEL ($900,000), but he violated his bail conditions after he crossed the border into Armenia on March 2. After an official report by the Georgia Ministry of Internal Affairs, Judge Giorgi Gelashvili upheld the prosecution’s motion to apprehend and hold Bachiashvili in custody, noting that he violated his bail conditions, which call for stringent detention measures. Former Georgian PM’s aide enters another country According to local news station TV Pirveli, Bachiashvili has left Armenia, seemingly after his movement was discovered and reported to the judge. The local television station mentioned that he has crossed over to a third country, with the venture capitalist refusing to disclose his current location to Reuters. Bachiashvili is presently facing allegations of embezzling about 8,253 BTC, carrying out his act between 2015 and 2017. The investor was said to have invested a $5 million loan, which was obtained using Ivanishvili’s funds, into the Bitcoin mining operations at Bitfury. According to Ivanishvili, he had discussed liquidating the mined Bitcoin in the second half of 2016, following concerns over the volatility of the cryptocurrency market. Reports noted that Bachiashvili repaid the loan to the issuer, the Cartu Bank owned by Ivanishvili, in August and September of 2016. A year later, he transferred about $536,900 in profits to the director of the bank NATO Khaindrava. Still, Ivanishvili maintains that he was…

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Filed under: News - @ March 8, 2025 9:14 am