Givi Tsuleiskiri, founder of Sphero Holding, detained on suspicion of fraudulently misappropriating large sums of money belonging to citizens, whilst criminal proceedings have been initiated against Giorgi Murusidze, director of Sphero Invest. The relevant statement was made at today`s briefing at the Prosecutor`s Office [PoG].

"According to the investigation of Ministry of Internal Affairs [MIA] established that G. Tsuleiskiri and G. Murusidze, with the intention of fraudulently misappropriating large sums of money from private individuals, established a legal entity called Sphero Invest with 100% shareholding by Sphero Holding.

G. Murusidze was formally appointed as director. The actual management of the enterprise was jointly carried out by G. Tsuleiskiri and G. Murusidze.

Between February 2022 - October 2025, Tsuleiskiri and Murusidze, acting in the name of Sphero Invest, entered into contracts with private persons concerning "temporary transfer of immovable property for residential purposes" as well as so-called "capital investment" agreements.

Under the terms of the capital investment contracts, citizens transferred funds to Sphero Invest’s account, with the company promising to provide monthly returns.
Upon the expiry of the agreement, the company was supposed to return the citizens` deposited funds in full, but it failed to do so. Despite this, Sphero Invest ceased paying rent and didn’t return money, leaving hundreds of citizens without accommodation.

Using the said scheme, Tsuleiskiri and Murusidze induced 244 citizens to transfer substantial sums into the organization’s bank account. They themselves failed to fulfil their obligations and fraudulently misappropriated up to GEL 12 million.

The number of victims and the extent of the damage may increase. In this criminal case, both accused face charges under Article 180, Parts 2(a) and 3(a) and (b) of the Criminal Code of Georgia, which carry a penalty of imprisonment for up to nine years.

The PoG will submit a motion to the court requesting the imposition of detention as a preventive measure against the accused. Besides, a search will be conducted for one member of the group in accordance with the legal procedures.

Ensuring the effective investigation of fraud cases is one of the primary priorities of the PoG and the MIA. A firm criminal policy is being pursued in relation to this category of offences, to safeguard the legitimate interests of victims", - says the PoG.