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Former Head of Georgian Co-Investment Fund Accused of Misappropriating Millions in Bitcoin

George Bachiashvili, the former head of the Georgian Co-Investment Fund, is facing allegations of misappropriation of cryptocurrency and money laundering. The case is being handled by the Prosecutor's Office of the Republic of Georgia, which claims that Bachiashvili misused a significant amount of Bitcoin in 2015.

The allegations relate to Bachiashvili's investments in Bitcoin mining in 2015, which were funded by him and an investor. The profits from the mining venture were intended to be shared among the investors, but it is alleged that Bachiashvili took a disproportionately large share of the profits. If convicted, he could face a prison sentence of up to 12 years.

Bitcoin Bitcoin $95,020.08
-2%
Cryptocurrency Money Laundering bitcoin mining
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