Giorgi Bachiashvili, a 39-year-old former aide to Georgian billionaire Bidzina Ivanishvili, has been evading capture since fleeing Tbilisi two months ago. With an Interpol red notice issued against him for an alleged $42 million fraud, Bachiashvili claims he has received threats on his life, purportedly from groups in the Northern Caucasus.
For more than a decade, Bachiashvili was closely associated with Ivanishvili, head of the Georgian Dream party and seen as Georgia’s de facto leader. His fortunes changed drastically when Ivanishvili, who recently faced US sanctions for undermining Georgia’s democratic aspirations and aligning with Russia, turned against him. Bachiashvili, once seen as Ivanishvili’s right-hand man, has described their relationship as deteriorating to the point where he feared for his safety.
Bachiashvili’s journey into Ivanishvili’s inner circle began in 2011, after being recruited for his expertise in real estate by Ivanishvili himself. He played a key role in selling Ivanishvili’s Russian assets, a move crucial for the latter’s political campaign ahead of his election as prime minister in 2012. Bachiashvili swiftly rose through the ranks to become deputy CEO of the Georgian sovereign wealth fund, often seen in the company of influential officials.
The fallout happened amid allegations of a rigged election in 2020, raising concerns about the concentration of power within Ivanishvili’s control. Following Russia’s war in Ukraine, their relationship soured further. Bachiashvili claims Ivanishvili perceived a conspiracy behind financial difficulties and became increasingly paranoid, suggesting that foreign agents sought to exploit his wealth.
Bachiashvili’s troubles began when he sought a loan for a cryptocurrency investment from Ivanishvili’s bank, CartuBank. After repaying the loan, he was later accused of misappropriating Ivanishvili’s profits from this venture. Facing criminal charges and realising the trial was likely rigged, he fled after allegedly being warned by state security services about a plot to imprison him.
His escape was meticulously planned, leading him to leave behind vital documents to mislead pursuers. He managed to cross into Armenia and board a flight to Qatar using a renewed passport. While in exile, he has reportedly been informed of ongoing threats against his life, possibly linked to forces aiming to destabilise Ivanishvili’s power.
Throughout his ordeal, Bachiashvili has claimed that Ivanishvili’s desperate need to retain power means he would sacrifice everything, even Georgia’s independence, to ensure his security. Although Bachiashvili intends to appeal his conviction, he remains cautious and acutely aware of the risks surrounding him, suggesting that Ivanishvili’s grip on power is increasingly precarious.