George Bachiashvili, founder of the Georgian Co-Investment Fund, has been charged with cryptocurrency misappropriation and money laundering. The Prosecutor’s Office of Georgia alleges that Bachiashvili misappropriated a large amount of Bitcoin in 2015, which was invested in Bitcoin mining.
The mining operation generated 24,662 BTC within a year, leading to a profit of 8,253 BTC, which was supposed to be divided among the investor and Bachiashvili. However, the Prosecutor’s Office contends that Bachiashvili appropriated the profit, paying only a tiny portion to the investor and hiding the details of the remaining appropriated bitcoins.
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