Vladimir Stephaniani, the owner of “Crystal Group,” who was arrested on charges of illegal entrepreneurial activity and money laundering, has been released on bail in the amount of 2 million GEL.

Tbilisi City Court replaced pre-trial detention with bail as a preventive measure.

As the businessman’s lawyer told InterPressNews, there was no necessity for Stephaniani to remain in custody. According to the lawyer, the defense offered the court a substantial financial guarantee. He also noted that Stephaniani clarified certain details in his testimony, including information regarding illegal construction.

For reference, the Prosecutor’s Office accuses Vladimir Stephaniani, the owner of “Crystal Group,” of illegal entrepreneurial activity and money laundering.

According to the Prosecutor’s Office, Stephaniani violated both the general development plan for Bakuriani settlement and the construction permit conditions received from the relevant agency, and he was gradually selling illegally built residential spaces.

The detainee has been charged under Articles 192 and 194 of the Criminal Code of Georgia — illegal entrepreneurial activity and money laundering — which provide for a sentence of up to 12 years of imprisonment.