Bachiashvili with the misappropriation of crypto and money laundering. In 2015, the office said that Bachiashvili engaged in Bitcoin mining with an investor who expected the profit to be divided in proportion to the invested funds.
The government body alleged that Bachiashvili generated a profit of 8,253.13 BTC in 2017, worth around $39 million at the time, and failed to pay the appropriate amount to the investor. With Bitcoin hovering around $30,000, the amount of BTC profit allegedly generated by Bachiashvili is worth almost $250 million at the time of writing.
The office also alleged that Bachiashvili concealed the details of the appropriated crypto, with the intention of transferring the funds to different wallets and using the money for financial operations. Meanwhile, Robert Amsterdam, the founding partner of Amsterdam & Partners LLP, which represents Bachiashvili, issued its statement, noting that the charges are “not rooted in any factual findings or serious investigation” but are rather “politically motivated.”
The office also alleged that Bachiashvili concealed the details of the appropriated crypto with the intention of transferring the funds to different wallets and using the money for financial operations.
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