The Prosecutor’s Office of Georgia has initiated new criminal proceedings against David and Giorgi Peikrishvili — underworld figures — on charges of legalizing illicit income on an especially large scale.
According to the agency, the investigation established that the Peikrishvili brothers, who lacked a legitimate source of income, devised a criminal scheme to launder unexplained assets of particularly significant value in their possession.
“In order to launder the money, David and Giorgi Peikrishvili induced individuals from their circle to conduct disguised financial operations and deposit cash of unlawful origin in particularly large amounts into their bank accounts in installments. Additionally, acting on instructions from David and Giorgi Peikrishvili, associated individuals deposited funds provided by the brothers into their personal bank accounts and subsequently transferred them, through multiple banking transactions, to the personal bank accounts of David and Giorgi Peikrishvili.
In this manner, between 2020 and 2026, various currencies equivalent to approximately 10 million lari accumulated in the bank accounts of David and Giorgi Peikrishvili were spent on the personal needs of the accused—used to cover banking obligations and to purchase movable and immovable property in their own names and in the names of associated individuals,” — the Prosecutor’s Office stated.
David and Giorgi Peikrishvili have been charged under Subparagraph “a” of Part 2 and Subparagraph “c” of Part 3 of Article 194 of the Criminal Code of Georgia (legalization of illicit income committed by a group of persons and involving the generation of income on an especially large scale), an offense punishable by up to 12 years’ imprisonment.
It was previously reported that the Prosecutor’s Office of Georgia had charged the Peikrishvili brothers with large-scale extortion and group hooliganism.