Georgian Dream founder’s lawyer calls alleged financial pressure on Ivanishvili ‘unprecedented racketeering’

Teimuraz Tsikvadze, lawyer for Georgian Dream founder and honorary chair Bidzina Ivanishvili, on Thursday accused foreign intelligence services and political actors of orchestrating years-long financial and political pressure against his client.

Tsikvadze described the alleged campaign as “unprecedented racketeering” and a “classic example of using financial leverage for political persecution”.

His statement comes amid public debate over a court decision expected on November 24 in London, where the final-instance ruling is set to be announced in a case originating in Bermuda concerning Ivanishvili’s lawsuit against Credit Suisse-linked entities. According to Tsikvadze, previous rulings in Singapore and two Bermuda courts have been decided in Ivanishvili’s favour.

Tsikvadze said the legal team had not planned public comment “regardless of the outcome”, but accused opposition parties and media of turning the issue into a political narrative.

He said Ivanishvili had been subject to political pressure by foreign intelligence agencies - referred to as the “deep state” - since 2008, after he distanced himself from Georgia’s previous government. He alleged that foreign actors orchestrated the destruction of Ivanishvili’s Swiss banking assets by enlisting a Credit Suisse banker, Patrice Lescaudron, who later died in what Swiss authorities ruled a suicide.

Tsikvadze claimed the case contributed to the collapse of Credit Suisse’s reputation, ultimately leading to the bank’s downfall.

The lawyer further argued that US sanctions imposed on Ivanishvili by the previous administration, allegedly for advancing Russian interests in Georgia, represented an attempt to control access to assets at the centre of ongoing litigation.

He alleged that the sanctions targeted one of Ivanishvili’s major foreign-held assets tied to the London case, calling it a signal that even a court victory would not guarantee asset recovery.

Tsikvadze also accused Swiss bank Julius Baer of freezing funds belonging not only to Ivanishvili but to his wife and children without legal justification.

He claimed the defence team learned about the November 24 decision date from public sources and said Ivanishvili no longer expects to regain access to the frozen assets, regardless of the ruling outcome, citing ongoing political obstruction.

Tsikvadze framed the case as part of a global struggle between US President Donald Trump and what he described as informal power networks within previous administrations. He said Trump’s future decisions would serve as an “indicator” of whether the current US Government is distancing itself from such influence.

Addressing claims that new sanctions may follow the London ruling, Tsikvadze questioned why opposition groups are “celebrating”, insisting that Ivanishvili has already accepted that funds will not be returned.

He added that Ivanishvili and his family will continue both political and charitable activities “even without access to these assets”.