Georgian PM: Funds seized from former premier to benefit state

Georgian Prime Minister Irakli Kobakhidze has confirmed that money confiscated from former Prime Minister Irakli Garibashvili will be directed to the state budget.

Speaking to journalists, Kobakhidze stated that around 20 million lari (approximately $7.3 million) has been seized, Caliber.Az reports per Georgian media.

“These funds will undoubtedly go to the Georgian state budget, compensating for any shortfall that may have arisen from probable corruption-related activities,” he said.

The funds were confiscated during coordinated raids on October 17, when authorities searched 24 locations linked to Garibashvili and his associates, uncovering over $7 million in cash, jewelry, and documents.

The operation targeted suspected money laundering tied to undeclared income and state contracts awarded to relatives.

Garibashvili, who resigned in January 2024, was questioned on October 22 and charged two days later with large-scale money laundering. Released on 1 million GEL (over $360,000) bail, he remains under travel restrictions.

Garibashvili, 43, twice served as prime minister during the Ivanishvili years – first from 2013-15 and then again from 2021 until January last year.

Now he has pleaded guilty to corruption charges that could carry a 12-year jail term.

By Aghakazim Guliyev