On April 12, the BBC published an article titled "On the hunt for the businessmen behind a billion-dollar scam," outlining the findings of a year-long investigative reporting project on a global trading network that cheated unwary clients. Davit Kezerashvili, the former Defense Minister of Georgia, was ultimately identified after the inquiry uncovered several names that pointed to him. 

The Milton Group, which the authorities were aware of but which fraudsters abandoned in 2020, had 152 brands, including Solo Capitals, and defrauded clients out of tens of thousands of pounds. Using corporate records that were made available to the public, investigators traced the connections between the Milton group's businesses. According to the paper, Davit Todua, Rati Tchelidze, Guram Gogeshvili, Joseph Mgeladze, and Michael Benimini were named as directors of Milton's trading platforms or assisting technological businesses. The Panama Papers, a significant 2016 leak of information about offshore companies, were also used by investigators to look up the five names. They discovered that four individuals - Tchelidze, Gogeshvili, Mgeladze, and Benimini - were listed as directors or senior figures in a network of linked offshore companies or subsidiaries before the aforementioned Milton group. Many of these businesses had some connection to Davit Kezerashvili. According to the study, Kezerashvili is not mentioned in any publicly accessible records that link him to the pre-Milton network; nonetheless, it is noted that his name was mentioned several times, indicating that he was either the creator of the parent firms in the network or one of the first stockholders. According to the investigation's findings, Kezerashvili appeared to be at the center of that network behind the scenes.

Other indirect evidence of the former defense minister's connections to Milton Group businesses discovered during the investigation includes a private email server used only by Milton Group businesses and those owned by Kezerashvili, Kyiv office buildings he owns that house the fraud call center, close social ties between Kezerashvili and the four senior Milton Group figures as shown by social media profiles and photos.

The paper claimed that Kezerashvili, through his attorneys, vehemently denied any connection to the Milton gang and any financial gain from schemes.

Response from Kezerashvili

On his Facebook page, Davit Kezerashvili addressed the claims raised during the journalistic inquiry. He claimed he had never been involved in the so-called call centers the BBC had reported. "I hereby declare that I have never taken part in such schemes, and I do so with full responsibility," he added.

Kezerashvili, who founded Formula TV, claims that the Georgian authorities are targeting his network with politicized justice. He emphasized that he would not ignore the harm caused to him by the leaked material and highlighted the orchestrated nature of the ruling party's attack.

The former Defense Minister emphasized, "I have always stated my willingness to cooperate with the investigative bodies of European countries on the issue of call centers, and I am still ready to do so. Particularly since my place of residence as a person in political exile in Great Britain, whose judicial system's dependability is beyond question."

Reactions from Georgian politicians

According to Shalva Papuashvili, the Chairman of the Parliament, Kezerashvili is hiding in European countries, and from there, he is stirring up the situation in Georgia. According to the Chairman of the Parliament, the money Davit Kezerashvili spends in the Georgian media, politics, and the non-governmental sector is stolen from the Georgian army and pensioners. "He himself admits that he finances political parties, the media, and the non-governmental sector. A person who first stole 5 million from the army and then robbed pensioners in a fraudulent scheme is directly involved in financing Georgian politics, media, and the non-governmental sector. This is what we are talking about. It is a pity that the same mistake is being repeated, which was made about Mikheil Saakashvili when he was sheltered in European countries. He looked at the situation here from there. Now it is Davit Kezerashvili who is in hiding in the European countries, and from there, he is stirring up the situation in Georgia. I hope that the European countries will take a serious look at this issue, and Davit Kezerashvili will be handed over to Georgia so that he can serve the punishment for the crime he committed," Papuashvili said.

On April 13, Petre Tsiskarishvili, the United National Movement Secretary General, said this was a purposeful organized campaign against Davit Kezerashvili. Tsiskarishvili stated, "What we are dealing with is easy to guess." "Under the conditions of the court of this government, when their attention was relaxed, Kezerashvili won a case in courts of two instances in 2017, when there was no Formula. What is the difference today, when Formula is on air, working and functioning? Why did Dato Kezerashvili lose the same cases in the Georgian court in 2022-23? When we ask these questions, it is like a puzzle, and it is very easy to guess what we are dealing with - a purposeful organized campaign," Tsiskarishvili added.

Kelly Degnan, the US Ambassador to Georgia, stressed that this is another reminder of why it is valuable to have independent, competent investigative journalism and investigative bodies. According to the Ambassador, she is not informed about the details. "I have not had an opportunity to hear and read the full story, and I am not informed about the details. However, it sounds like this is an example and another reminder of why having independent, competent investigative journalism and independent investigative bodies looking into allegations like this is so important to ensure that people's rights are protected," Kelly Degnan added.

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