The State Security Service of Georgia (SSSG) has confirmed the detention of Giorgi Bachiashvili, based on an official statement released by the agency.
“On May 26, 2025, following an anonymous tip-off, the State Security Service received information that Giorgi Bachiashvili—a dual citizen of Georgia and the Russian Federation, who had been convicted and was wanted under a Red Notice—was moving near the so-called green border area between the Red Bridge and Sadakhlo.
“As a result of investigative and operational-search measures, the individual was apprehended.
“The investigation is being conducted by the SSSG’s Anti-Corruption Agency under Article 344, Part 1 of the Georgian Criminal Code, which pertains to illegal border crossing and is punishable by three to five years of imprisonment.
“The State Security Service extends its gratitude to the relevant units of the Ministry of Internal Affairs for their assistance,” the statement reads.
Bachiashvili is accused of embezzling several million US dollars from a cryptocurrency investment project he managed between 2015 and 2022. Investigators claim that he allegedly concealed the proceeds and laundered part of the funds through offshore schemes.
Giorgi Bachiashvili was a close associate of Bidzina Ivanishvili, Georgia’s billionaire ex-Prime Minister, and served as the CEO of the Co-Investment Fund, a private equity fund launched in 2013 to attract foreign investment to Georgia.
Bachiashvili left Georgia in early March 2025, citing political persecution and threats to his life. Facing multiple criminal charges, including the alleged embezzlement of over $700 million in cryptocurrency, Bachiashvili claimed the accusations were fabricated and politically motivated, stemming from his fallout with Ivanishvili over the latter’s pro-Russian stance and suppression of dissent.
Despite a court-imposed travel ban and confiscation of his passports, Bachiashvili managed to flee the country by allegedly using a specially equipped hiding place in a vehicle to cross the border into Armenia, where he presented a Russian passport. He later stated that he exploited “holes in the system,” including assistance from individuals within it, to facilitate his escape.
Bachiashvili emphasized that his departure was a strategic move to continue his fight against what he described as a corrupt regime from abroad, rather than an act of surrender.
Related story: Former Ivanishvili aide Giorgi Bachiashvili leaves Georgia, citing political persecution
