A full trial against two Israeli businessmen charged with offering a bribe to the Georgian deputy finance minister began earlier this week after preliminary hearings in December, a report said Wednesday.
According to Georgian prosecutors, Ron Fuchs and his Greek associate, Ioannis Kardassopoulos, with the assistance of Zeev Frenkiel, tried to bribe the Georgian deputy finance minister, asking him in return “to convince the Georgian government” not to challenge the decision of an international arbitration, online news outlet Civil Georgia reported.
The arbitration in question concerned a dispute over Caspian-oil pipeline investments made by Fuchs and Kardassopoulos in the wake of Georgia’s independence. The arbitration, which began in 1996, concluded in early 2010 and awarded Fuchs and Kardassopoulos a total of $98.1 million to be paid by the Georgian state.
According to Georgian prosecutors, Ron Fuchs and his Greek associate, Ioannis Kardassopoulos, with the assistance of Zeev Frenkiel, tried to bribe the Georgian deputy finance minister, asking him in return “to convince the Georgian government” not to challenge the decision of an international arbitration, online news outlet Civil Georgia reported.
The arbitration in question concerned a dispute over Caspian-oil pipeline investments made by Fuchs and Kardassopoulos in the wake of Georgia’s independence. The arbitration, which began in 1996, concluded in early 2010 and awarded Fuchs and Kardassopoulos a total of $98.1 million to be paid by the Georgian state.
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