The American publication New York Post reports that Georgian businessman Giorgi Bachiashvili has hastily sold his Miami mansion. In mid-August, roughly six months following his release from prison, Bachiashvili listed the villa for sale, setting an all-time record for Hibiscus and Palm Islands, where the property is situated.
“The 41-year-old Georgian bitcoin investor and financier, whose life reads like a John le Carré spy novel, sold his newly completed Miami mansion on the gated Hibiscus Island for $51.5 million.”
The New York Post notes that Bachiashvili previously fled Tbilisi shortly before he was sentenced in absentia on March 10, 2025, to 11 years in prison for allegedly misappropriating cryptocurrency belonging to his former boss—Georgia’s “most powerful man,” former Prime Minister Bidzina Ivanishvili. The entrepreneur denied the allegations, characterizing them as politically motivated.
“Bachiashvili was then allegedly kidnapped from Abu Dhabi on May 24, 2025, and brought back to Georgia, where he was imprisoned by his former boss. His sentence was suspended following a plea deal, and he was released from prison less than a year later, in February,” the outlet reports.
At the same time, Giorgi Bachiashvili’s current whereabouts remain confidential, his attorney Peter J. Sahlas of the firm Amsterdam & Partners told reporters.
As for the sold Miami property, it is an ultra-modern mansion featuring five bedrooms, staff quarters, six full bathrooms, two powder rooms, a home office, a gym, and 120 feet (approximately 36.5 meters) of prime water frontage. The interior also boasts an expansive foyer, a double-height living room, and a chef’s kitchen.
Among the lavish amenities highlighted by the New York Post is a soundproof home theater complete with a bar. The estate also includes a swimming pool and two private boat docks (as the residence occupies two bayfront parcels), capable of accommodating at least one 105-foot (32-meter) yacht.
According to public records, Bachiashvili purchased the parcel for $19 million in 2021. At the time, it was an “unfinished shell of a house still under construction,” an insider revealed. He subsequently commissioned the prominent South African architectural firm SAOTA to design the property.
