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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Headlines

    Posted By Global Banking and Finance Review

    Posted on May 27, 2025

    Featured image for article about Headlines

    By Felix Light

    TBILISI (Reuters) -Georgian authorities said on Tuesday they had arrested an ex-aide to Georgia's most powerful man who fled the country earlier this year while on trial on charges of embezzling cryptocurrency worth more than $800 million from his former boss.

    Giorgi Bachiashvili, who says the charges were politically motivated, was sentenced in absentia to 11 years in prison for defrauding Bidzina Ivanishvili, a billionaire former prime minister who is widely seen as Georgia's de facto leader.

    Bachiashvili, who used to run Ivanishvili's investment fund, denies wrongdoing and has said the case aimed to punish him for breaking with Ivanishvili by publicly supporting Ukraine in its war with Russia.

    Georgia's State Security Service, in a statement published on Facebook, said it had arrested Bachiashvili near the country's southern borders with Armenia and Azerbaijan after receiving an anonymous tip-off.

    It said that Bachiashvili was under investigation for illegal border crossing. Authorities have said he fled Georgia in March by hiding inside a car before crossing into Armenia and then moving onto a third country.

    Robert Amsterdam, one of Bachiashvili's lawyers, said in a statement published on his firm's website that Bachiashvili had been returned to Georgia "forcibly" and that he was at risk of torture.

    The embezzlement charges related to a 2015 loan from Ivanishvili's Cartu Bank, which Bachiashvili had sought to establish a cryptocurrency mining business.

    The Georgian branch of anti-corruption watchdog Transparency International has said that there is a lack of evidence against Bachiashvili, and that the case appears to reflect Ivanishvili's financial interests.

    Ivanishvili, who is seen as controlling the ruling Georgian Dream party he founded, has steered traditionally pro-Western Georgia in a more pro-Russian direction since the outbreak of the Ukraine war, while clamping down on opposition at home.

    In December, he was sanctioned by the United States over a crackdown on protesters opposed to the Georgian government's freezing of European Union accession talks until 2028.

    The billionaire rarely appears in public, and has not commented on his former aide's flight or subsequent arrest.

    (Reporting by Felix Light;Editing by Helen Popper)

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