In connection with the “Sphero Holding” case being investigated by the Anti-Fraud Division, the founder of “Sphero Holding,” Givi Tsuleiskiri, has been arrested on charges of large-scale fraud committed by a group using their official positions, while criminal prosecution has been initiated against “Sphero Invest” director Giorgi Murusidze, announced Tbilisi Prosecutor Giorgi Mikaia at a briefing.

According to Mikaia, the damage caused to citizens as a result of the defendants’ actions amounts to 12 million GEL.

“The investigation conducted by the Ministry of Internal Affairs established that Givi Tsuleiskiri and Giorgi Murusidze, in order to fraudulently appropriate large sums of money from individuals, founded the company ‘Sphero Invest’ with 100% participation of ‘Sphero Holding.’ Giorgi Murusidze was formally registered as the director, although the company was in fact jointly managed by both Tsuleiskiri and Murusidze.

From February 2022 to October 2025, acting on behalf of ‘Sphero Invest,’ Tsuleiskiri and Murusidze entered into agreements with individuals for the temporary transfer of real estate for residence and for capital investment.

Under the ‘temporary real estate transfer’ agreements, individuals deposited money into ‘Sphero Invest’s’ bank accounts, after which the company rented apartments from third parties for them. Upon the expiration of the contract, the organization was required to return the full amount paid by the citizens. However, ‘Sphero Invest’ stopped paying rent and failed to return the deposited funds, leaving hundreds of citizens without housing.

Under the ‘capital investment’ contracts, individuals transferred money to ‘Sphero Invest’s’ account in exchange for promised monthly returns, with a full refund of their principal investment at the end of the term — obligations the company never fulfilled.

Through this scheme, Tsuleiskiri and Murusidze fraudulently obtained large sums from 244 citizens, ultimately misappropriating up to 12 million GEL.

The number of victims and the total amount of damages may increase as the investigation continues.

The defendants have been charged under Article 180, Part 2(a) and Part 3(a,b) of the Criminal Code of Georgia, which provides for a penalty of up to nine years of imprisonment.

The Prosecutor’s Office will petition the court to impose pre-trial detention as a preventive measure, and one member of the group will be declared wanted under the law.

“The effective investigation of fraud cases remains one of the main priorities of the Prosecutor’s Office and the Ministry of Internal Affairs of Georgia. Strict criminal policy will continue to be applied to such offenses to protect the legitimate interests of the victims,” the Prosecutor’s Office stated.