Former Georgian investment fund head flees country, authorities confirm

The former head of Georgia’s Co-Investment Fund, Giorgi Bachiashvili, has allegedly fled the country using covert means, the Ministry of Internal Affairs said on Wednesday.

Authorities claim he bypassed a border checkpoint by hiding in a vehicle before crossing into Armenia with a Russian passport.

The Ministry reported that on March 2, Bachiashvili “secretly crossed the Georgian state border, bypassing the checkpoint, using a special hiding place in a car, in the direction of Armenia.” At the Armenian border, he allegedly presented a Russian passport and successfully entered the country, the body claimed.

The Ministry said it was “actively investigating the escape” and seeking to identify and detain those who had aided in the illegal border crossing.

The Central Criminal Police Department has launched an investigation under Part 1 of Article 344 of the Criminal Code, which pertains to illegal border crossing.

Bachiashvili is currently facing two criminal cases, both involving Bidzina Ivanishvili, Georgia’s former Prime Minister and billionaire businessman, who had founded the ruling Georgian Dream party. He had been granted bail of 2.5 million GEL ($925,000) in a Bitcoin-related case and 50,000 GEL ($18,500) in a dispute concerning the Mtkvari hydropower plant. As part of his bail conditions, he was prohibited from leaving Georgia.

Despite the restrictions, on March 4, Bachiashvili announced on social media that he had left the country due to “life-threatening” risks.