Davit Kezerashvili Refutes the BBC Investigation Claims, Announces Handover of Formula TV Shares

On April 18, the “Formula” TV company published a statement by its founder, Davit Kezerashvili. The statement strongly refutes the BBC journalist’s investigation allegations linking him to a global scam trading network, as well announces Kezerashvili’s decision to relinquish control of Formula TV.

Reaction to the BBC investigation

Davit Kezerashvili responded to the BBC investigation by pointing out that the ruling party and its “oligarch” leader had been waging a campaign against him for many years, which was a clear indication of the Russian influence and propaganda still present in Georgia, stressing that it is unfortunate that “an international media with high professional standards, whose traditional reputation cannot be ignored, has become part of the campaign…”.

Kezerashvili accused the author of the investigative material, who, he noted, represents “The Times of Israel” and not the BBC, of trying to damage his business reputation for years. He also highlighted the coincidence between the author’s publications in the Israeli media and the Russian narrative against him. Kezerashvili also pointed out that the investigative journalist had presented a selective raid on his friend’s call center, which was arranged by the Georgian Prosecutor’s Office. He found it strange that the journalist did not find more evidence to support the allegations and instead focused on researching the his social network, pointing out that the journalist highlighted his 45 Facebook friends linked to the Milton Group.

Kezerashvili addressed all the allegations made in the investigation, stating that he had not refused to cooperate with the journalists. He stressed that the journalist himself had repeatedly pointed out that there was no factual evidence linking him to the Milton Group and reiterated that he had no connection with it or any other fraudulent network. He denied that his technology companies had created any kind of trading platforms or websites for the Milton Group and and noted that his company’s email could only have been on the Milton Group’s server because a third party cybersecurity company was constantly changing the server.

In addition, he stressed that the business center he owns in Kyiv is not rented to any companies involved in fraudulent actions, and notes that “there has never been any kind of investigation against the companies that rent commercial space in these buildings”.

“I will do my best to prove the injustice of the accusations made in the investigative film in a court of law” – he emphasized noting that he will seek justice in the court of Britain. He also stressed that he is ready to provide the courts or organizations in Europe with information about the high-ranking Georgian officials who are the real masterminds behind the so-called call centers.

• 06/04/2016 – Court in London Rejects Extradition of Kezerashvili

Decision on “Formula”

Kezerashvili pointed out that critical media in Georgia, including ‘Formula’, of which he is one of the founders, “have reported extensively on the government’s call center scheme”, with substantiated material and facts. He notes that he had offered the investigative team to come to Tbilisi and carry out investigative activities with the support of critical media operating in Georgia, but they refused because it was not in their interest at that stage. Kezerashvili stressed that “Formula” had provided the group with all kinds of help, including television footage.

Kezerashvili has announced that he will give up control of the “Formula” TV company and will transfer half of the existing shares to TV management and journalists, with the remaining share to be transferred in full after the end of the “oligarchic rule” (according to public documents, he held 51% of the shares on 31 December 2021). He believes that after the disappearance of the Ivanishvili factor and the final entry into the Western space, free media will have many other sources of livelihood without his participation. “And this is where my activity in the direction of media support and, in general, all kinds of involvement in Georgian politics will come to an end” – he emphasized.

Addressing the “Oligarchic Regime”

In his statement, Kezerashvili addressed the “oligarchic regime” that exists in Georgia. He stated that “civil society is entering the decisive phase of the struggle against the Russian oligarchic regime,” noting that Ivanishvili is trying to “make Georgia an open platform for Putin’s Russia,” but his attempts have failed. He stressed that it is very important for the Georgian government to control every individual and institution, noting that independent civil society, foreign funding, and free media pose a serious threat to the ruling party. “From the oligarch’s point of view, the danger today is everywhere where he is not, that he cannot control, and that may contain the essence of democracy and Western values,” – he added.

He emphasizes that he has become a personal target of Bidzina Ivanishvili, as evidenced by “unfounded campaign statements by political officials, clan court rulings, daily false accusations by state propaganda media”. He identifies the goal of his “singling out” as an intention to damage his business reputation “at any cost”.

Also Read:

• 03/04/2023 – Davit Kezerashvili Responds to the Accusations Against Him
• 30/09/2021 – Defense Ministry to Sue Kezerashvili for Compensation
• 27/05/2014 – Ex-Defense Minister Kezerashvili Acquitted

This post is also available in: ქართული (Georgian) Русский (Russian)