The Prosecutor’s Office has launched criminal proceedings against Davit and Giorgi Peikrishvili for the legalization of illegal income on an especially large scale

The Prosecutor’s Office of Georgia has launched criminal proceedings against Davit and Giorgi Peikrishvili for the legalization of illegal income on an especially large scale. The Prosecutor’s Office of Georgia released the information.

According to the Prosecutor’s Office, an investigation conducted by the Investigative Division of the Prosecutor General’s Office established that Davit and Giorgi Peikrishvili, who had no legitimate source of income, developed a criminal scheme to launder assets of particularly large value and of unexplained origin in their possession.

“For the purpose of money laundering, Davit and Giorgi Peikrishvili persuaded people in their circle to carry out concealed financial transactions and had them deposit particularly large amounts of cash of illicit origin into their bank accounts in smaller installments. In addition, at the direction of Davit and Giorgi Peikrishvili, individuals connected to them deposited funds provided by the brothers into their personal bank accounts and subsequently transferred the money to the personal bank accounts of Davit and Giorgi Peikrishvili through multiple banking transactions.

Through this method, between 2020 and 2026, various currencies equivalent to approximately GEL 10 million accumulated in the bank accounts of Davit and Giorgi Peikrishvili were used at the defendants’ discretion for personal needs, including repaying bank obligations and purchasing movable and immovable property in their own names and in the names of persons connected to them.

Davit and Giorgi Peikrishvili have been charged under Article 194, Paragraph 2(a) and Paragraph 3(c) of the Criminal Code of Georgia - legalization of illegal income committed by a group, accompanied by the receipt of income on an especially large scale - which carries a sentence of up to 12 years’ imprisonment,” the statement said.