SOCIETY

Possible Fraud Complaint Against Irakli Gilauri, Director of JSC Georgia Capital, Submitted to Prosecutor's Office

19.06.24 18:04


Lawyer Dimitri Mchedlishvili, representing Natia Janashia (founding partner and director of the British-Georgian Academy) reports that he has lodged a complaint with the Prosecutor’s Office of Georgia on his client’s behalf against Irakli Gilauri (director of JSC Georgia Capital) and Giorgi Ketiladze (director of Georgia Education Group LLC). Specifically, the complaint centers on allegations that Gilauri and Ketiladze may be in violation of Article 180 of the Criminal Code of Georgia, which pertains to deceptive practices involving someone else's property or property rights, possibly constituting fraud. According to Section 4(a) of said article, if proven, such an offense carries a penalty of 7-10 years’ imprisonment.

 

The case revolves around the alleged failure of Gilauri as an investor to fulfill an obligation outlined in a contract agreed with the British-Georgian Academy (BGA LLC), one of Georgia’s leading educational institutions.

 

In October 2018, then prospective investor Gilauri, and his associate Ketiladze engaged in discussions with Natia Janashia, then the sole owner of the school. Through protracted negotiations, Natia Janashia was apparently persuated that Gilauri would make substantial investments totaling tens of millions of GEL into the development of the British-Georgian Academy, in return for 70% of BGA LLC’s shares. Specifically, such investment was supposed to include the establishment of two new school campuses, one in Lisi and the other in Okrokana.

 

Furthermore, during negotiations and around the signing of a memorandum of understanding, Gilauri and Ketiladze are said to have repeatedly asserted that new school facilities would be constructed on land owned by their company, namely JSC Georgia Capital, in Okrokana. Indeed, the transfer of this land to the British-Georgian Academy at no cost was part of a detailed investment model presented by the JSC Georgia Capital representatives.

 

However, what was agreed upon has reportedly not since materialized. Crucially, Natia Janashia alleges, the investor has failed to transfer the Okrokana land to the school as agreed, and JSC Georgia Capital has not made any financial contribution to the school's development during the five-year period since the signing of the agreement. Following persistent requests from Natia Janashia to honor the agreement, JSC Georgia Capital has allegedly instead attempted forcibly to transfer the Okrokana land into the school's ownership stipulating conditions that would result in JSC Georgia Capital overtaking the remaining 30% shares currently owned by Natia Janashia.

 

In addition, the complaint against Gilauri and Ketiladze also references Article 202 of the Criminal Code, covering illegal acquisition, transmission, disclosure, or use of insider information, commercial, or banking secrets.

 

Natia Janashia’s lawyer Mchedlishvili now urges the Prosecutor's Office of Georgia to promptly and thoroughly investigate the possible criminal intent of Gilauri, Ketiladze, and possibly others.

 

Natia Janashia emphasizes that her primary objective here is to safeguard the British-Georgian Academy, which she and her spouse founded 18 years ago, from what she deems to be an unscrupulous investor, and to prevent irreparable reputational and material harm to the school. Furthermore, Natia Janashia, by taking legal action, asserts an intention to ensure that the institution can continue to deliver high academic standards and protect the future of its students.

 

 

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