Senior ruling party MP praises special services over controversial arrest of Ivanishvili’s ex-financer, urges awards for operatives

Givi Mikanadze, Chairman of the Parliamentary Committee on Education, Science and Youth Affairs from the ruling Georgian Dream party, has commended the country’s special services for what he described as a “highly professional” operation to detain and extradite Giorgi Bachiashvili, a businessman, former head of the Georgian Co-Investment Fund who had served as a financier of Bidzina Ivanishvili, the founder and billionaire honorary chair of the GD. 

In 2023, Bachiashvili was charged with embezzling over $39 million worth of Bitcoin from an investment made by Ivanishvili in 2017. Prosecutors allege that Bachiashvili transferred only a fraction of the profits to Ivanishvili, unlawfully retaining nearly 9,000 bitcoins for himself .

He was convicted in absentia and sentenced to 11 years in prison by a Tbilisi court in March 2025. Bachiashvili’s legal team claims he was “abducted” in a foreign state and “illegally returned” to Georgia earlier this month. 

Speaking for Rustavi 2 TV channel on Monday, Mikanadze referred to Bachiashvili’s own account of his arrest as evidence of the special services’ effectiveness.

“If we take Bachiashvili at his word and develop this theory, it highlights an even higher level of professionalism within our special services,” Mikanadze said. “I would personally support promoting and awarding those involved in this operation.”

Mikanadze further claimed the case proved both the operational capabilities and legal soundness of the country’s law enforcement institutions.

“Justice must be served, whether it’s Bachiashvili or anyone else,” he said. “In fact, in several EU countries, such financial crimes carry significantly harsher penalties than those outlined in Georgian law.”

Responding to allegations from opposition parties that Bachiashvili is a victim of political retaliation, Mikanadze dismissed the claims as groundless.

“This is mere speculation from the opposition,” he said. “It began only after Bachiashvili confessed to funding opposition activities, likely in an attempt to create a shield for himself. In a democratic state, anyone found guilty of a crime must be held accountable.”

Bachiashvili contends that the charges are politically motivated, stemming from his fallout with Ivanishvili over Georgia's political direction. He has publicly criticized Ivanishvili's alleged pro-Russian stance and the introduction of laws perceived as suppressing civil society, such as the foreign transparency law .

Additionally, Bachiashvili accused Ivanishvili of attempting to extort 5,000 bitcoins from him through a letter demanding payment, with penalties for delays . Ivanishvili's legal team has dismissed these claims as false and part of a disinformation campaign.