Georgian billionaire’s legal team denounces charges as unsubstantiated and politically motivated

Following past week’s charges against  George Bachiashvili, the Georgian billionaire’s ineligible defence squad has denounced the allegations of misappropriation of funds and wealth laundering against him arsenic “absurd.”

According to a statement from Amsterdam & Partners LLP, the planetary counsel representing Bachiashvili, the charges are politically motivated and deficiency immoderate substantive evidence.

As reported by Georgian quality outlet Agenda, Bachiashvili, the laminitis of the Georgian Co-Investment Fund, was charged for reportedly misappropriating a important magnitude of cryptocurrency, chiefly Bitcoin, dating backmost to 2015. The Prosecutor’s Office of Georgia alleges that Bachiashvili enriched himself by diverting profits from a Bitcoin mining cognition partially funded by an unidentified investor.

However, according to Robert Amsterdam, founding spouse of Amsterdam & Partners LLP, “the root of these charges is not rooted successful immoderate factual findings oregon superior investigation, but alternatively the charges look to beryllium the effect of a weaponized prosecution.” Amsterdam further claimed that Bachiashvili, a highly accomplished entrepreneur, is being targeted owed to his governmental beliefs and that the charges are an embarrassment to the country.

Bachiashvili is simply a recognized fig successful fintech, blockchain, and different innovative industries. He has founded and backed galore startups, including Mission Gate, a task superior steadfast investing globally successful early-stage projects. He besides served arsenic the Chairman of the Supervisory Board of the Georgian Stock Exchange since 2014 and antecedently held positions with Booz & Co, the Abu Dhabi Group, and the Bank of Georgia.

In effect to the Prosecutor’s Office charges, Amsterdam & Partners LLP declared their intent to support Bachiashvili’s rights and innocence aggressively. “We mean to vindicate our lawsuit done each disposable measures some domestically, with our co-counsel successful Georgia, and internationally,” Amsterdam stated.

The allegations against Bachiashvili are serious. As reported by Agenda, if recovered guilty  the Georgian entrepreneur could look betwixt 9 and 12 years successful prison.

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