The ex-head of the Georgian Soinvesting Fund is accused of assigning crypto assets and investor funds – Bits Media

The Georgian prosecutor's office charged billionaire Georgy Bachiashvili, Former Head of the Georgian Soinvesting Fund, in the illegal assignment of a large amount of bitcoins and laundering money.

According to law enforcement, Georgy Bachiashvili, Included In the Forbes rating "30 Under 30", He founded a private investment company and attracted funds for organizing bitcoin mining. As reported, Bitcoin mining services were provided by a foreign company on the annual contract for the amount $6,3 million, out of which $5 Milln were attracted from third -party investors.

According to Agenda, With reference to sources close to legal proceedings, During the year, more 24 000 BTC, which led to profit in the amount of 8 000 BTC. Under the terms of the investment agreement, The profit was supposed to be divided between investors and Bachiashvili in percentage of the invested amounts.

However, the prosecutor's office claims, that Bachiashvili hid from investors, that the foreign mining company "actually" belonged to him, and also appropriated profit, Paying investors only a small part in the amount of about $536 000. At that time, the sum of the assigned bitcoins exceeded $39 million. At current prices, the amount of stolen assets exceeded $243 million.

If Bachiashvili is found guilty of illegal assignment of cryptocurrency and money laundering, He threatens from 9 to 12 Years of prison.

Earlier, the Georgian government announced the beginning of strategic cooperation with Tether to create a national ecosystem, bitcoins or single -rating networks.