Georgian businessman Giorgi Chikvaidze and his partner sentenced to 9 and 8 years in prison

The Tbilisi City Court has sentenced Georgian businessman and founder of Ramses Yachting, Giorgi Chikvaidze, to nine years in prison on charges of large-scale embezzlement. His business partner, Irakli Papiashvili, was sentenced to eight years. The verdict was delivered by Judge Iza Kelenjeridze, who has served on the City Court since 2018.

Chikvaidze, 38, has been in pre-trial detention since March 11, while Papiashvili was taken into custody today immediately following the court session.

Both men were convicted under Article 182 of Georgia's Criminal Code, which deals with group embezzlement or misappropriation of large sums of money, carrying a potential prison sentence of three to twelve years.

The case was initiated based on a complaint from Elguja Turmanidze, owner of the construction company ETS Building. According to the prosecution, Chikvaidze's company, Ramses Georgian Yachting Platform, signed a contract to deliver a yacht from abroad in exchange for 1,155,019 GEL (approx. €370,110). ETS lawyers claim the money was paid in four installments, but the yacht was never delivered. Only €50,000 was reportedly returned, while the remaining funds were allegedly spent on personal expenses.

On May 5, while in detention, Chikvaidze posted on Facebook that he had submitted documents to the US Helsinki Commission via representatives, claiming they expose a joint operation by Russian and Georgian security services aimed at recruiting senior American officials.

Chikvaidze, a former supporter of the ruling Georgian Dream party and past contributor to their election campaigns, had recently turned vocal against the government. In the months leading up to his arrest, he accused authorities of racketeering, business extortion, and even claimed he faced threats of physical liquidation.