"So to speak, Ivanishvili put me in a criminal 'trap.' He sent me a letter through his representative, demanding a large amount of cryptocurrency in exchange for my freedom. He directly stated that if I don't return this cryptocurrency, the amount will keep growing. This is an extortion attempt," Bachoshvili said during his court hearing, where the parties involved in his case are giving their opening statements.

According to Bachoshvili, the spectacle that Bidzina Ivanishvili is orchestrating is politically motivated. He urged the judge to ensure Ivanishvili's appearance as a witness in court, since, according to Bachoshvili, Ivanishvili will do everything to avoid appearing in court.

Bachoshvili also stated that he personally witnessed judges and prosecutors visiting Ivanishvili, which, in his opinion, gives grounds for distrust of the court.

"Today, I stand before you as an entirely innocent person. This court is not based on any law or justice because its goal is to punish me, take revenge, and extort money, all because I didn't share Ivanishvili's anti-Western agenda and remained loyal to my values.

There is not a single piece of evidence in my case that supports Ivanishvili's baseless accusations. I had a loan at a bank for my company, which I repaid fully.

The prosecutor mentioned my personal business activities, where I legalized funds that I earned legally. My business activity cannot be described as money laundering. I am waiting for when Bidzina Ivanishvili will appear in this building so that I can prove, during his presence, that everything is his fabrication. But he is afraid to be called as a witness in any court—this is something I know from personal experience.

I am sure that both the prosecutor and Bidzina Ivanishvili will put all sorts of pressure on the court to ensure that he does not show up here. Unfortunately, nothing can be done, and the court will obey Ivanishvili’s will.

As a judge, you must ensure that Ivanishvili appears here. He is in Georgia, he has no health problems, and there is no reason for him to be exempt from appearing.

The court should investigate who is involved in corruption, not continue a political spectacle based on Ivanishvili's testimony. Ivanishvili has repeated all the mistakes of the previous government and is using the court as a tool for punishment. This government is doing everything to prolong this criminal, corrupt rule. I could have stayed silent and gone along with a deal with Ivanishvili, but I refused.

Ivanishvili sent me a letter through his representative, demanding a large amount of cryptocurrency in exchange for my freedom. He directly stated that if I don't return this cryptocurrency, the amount would keep growing. This is a criminal 'trap' set by Ivanishvili. The threat of imprisonment—once again, this proves that this spectacle, which he is creating, is politically motivated. This is direct extortion," Bachoshvili said.

According to Bachoshvili, at first, they demanded 5,000 bitcoins from him, and if he didn’t pay, the amount would increase by 500 bitcoins every month. He explained that he received the letter a few months ago.

For reference, the charges against Giorgi Bachoshvili relate to actions that took place in 2017. According to the Prosecutor's Office, Bachoshvili gave only $536,900 to an investor for the full profit received from the investment, while illegally seizing 8,986 bitcoins belonging to the investor, which at the time of his illegal possession had a value of up to $43 million.

Giorgi Bachoshvili does not consider himself guilty of the charges.

The actions in question carry a sentence of imprisonment ranging from 9 to 12 years.