![George Bachiashvili’s lawyer denies M Bitcoin misappropriation charges George Bachiashvili’s lawyer denies M Bitcoin misappropriation charges](https://i0.wp.com/images.cointelegraph.com/images/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDcvZDY3N2Q2OWUtNjk1NS00ZGJlLWE0NmUtYjM4MmQyMjFkMTc3LmpwZw==.jpg?fit=%2C&ssl=1)
The legal team representing billionaire entrepreneur George Bachiashvili has issued a statement denying criminal charges brought by the Georgian prosecutor’s office accusing the businessman of misappropriating $39 million worth of Bitcoin (BTC).
On July 6, the procuratorate charged Bachiashvili is suspected of misappropriating cryptocurrencies and money laundering. In 2015, the office said Bakiashvili was engaged in bitcoin mining with an investor who wanted to share profits in proportion to the funds invested.
The government agency claimed that Bachiashvili made a profit of 8,253.13 BTC in 2017, worth about $39 million at the time, but failed to pay investors the proper amount. With bitcoin prices hovering around $30,000, Bachiashvili is said to have made BTC profits worth nearly $250 million as of this writing.
The office also claimed that Bakiashvili withheld details of the stolen cryptocurrencies in order to transfer the funds to different wallets and use the money for financial operations.
Meanwhile, Robert Amsterdam, founding partner of Amsterdam & Partners LLP, representing Bakiashvili, issued a statement stating that the allegations were “not based on any factual findings or serious investigation” but were “politically motivated.”
we are happy to represent @GBachiashvili,one of them #GeorgiaMost Accomplished Entrepreneur.
The baseless, politically motivated allegations against him are a very negative signal for the rule of law and for investment. We intend to actively fight to expose the truth. pic.twitter.com/GAItufZfwG
— Robert Amsterdam (@robertamsterdam) July 6, 2023
Amsterdam said the allegations were a negative signal for the rule of law and investment. Lawyers stressed their intention to refute the allegations and work to uncover the truth.
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lawyer also explain In the press release, the state apparatus was “misused as an instrument of theft” and Bakiashvili was targeted simply because of his political beliefs. He added: “These allegations are an embarrassment to the nation, and we intend to use all available domestic, Georgian and international measures to defend our client.”
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