“Trump Tower” in Tbilisi – Fraudulent Network of Online Casinos and Russian Connections

In Tbilisi, on the territory of the former hippodrome, which until today is in the ownership of the son of “Georgian Dream’s” founder, Bidzina Ivanishvili, a group of developers is planning to build a “Trump Tower.” Among them is a company connected to a fraudulent international network of online casinos. From this journalistic investigation by “Monitor,” you will learn many more interesting details about “Trump Tower,” including what connection the participants of this project have with Russia.

On April 17, the “Trump Organization” published a statement regarding the construction of “Trump Tower Tbilisi.” From the statement, we learn that the 70-story “Trump Tower Tbilisi” will be the tallest building in Georgia; and the world’s largest architectural company “Gensler” worked on the design of the project.

In the same statement, there is talk about the project’s “best location – with a view of the central park.”

The Business of the US President’s Family on the Land of the Ivanishvili Family, Sanctioned by the US

The “Trump Organization” is founded by the current President of the US – Donald Trump, and currently, it is managed by his sons – Eric and Donald Trump Jr.

It is precisely in cooperation with this organization that a 70-story skyscraper – “Trump Tower” – is to be built in Tbilisi, on the territory of the former hippodrome.

Bidzina Ivanishvili’s company “Invest Capital” bought approximately 50 hectares of land on the territory of the former hippodrome in 2009. In April 2013, Ivanishvili said in one of the television interviews that he paid 52 million for land plots on the territory of the hippodrome, where he was planning to build a technological university.

In 2020, Ivanishvili’s company divided these plots. And in June of the same year, “Invest Capital” sold plots with an area of more than 35 hectares to the charitable foundation “Cartu”, which is also connected to Ivanishvili, for approximately 50 million GEL. In October of the same year, “Cartu” handed over these plots to the Tbilisi City Hall – to arrange a central park. Right then, the director of “Cartu” stated that their own foundation would cover the construction costs of the park, several tens of million GEL.

“A Japanese garden, an artificial lake, an amphitheater, a botanical garden, a fountain, a French garden will definitely be located on the territory of the park, and the main thing will be a very large meadow,” – Tbilisi Mayor Kakha Kaladze made this promise back in October 2020, when his first term as mayor was expiring. Last year, he headed the capital’s government for a third term, however, the construction of the central park on the territory of the former hippodrome remains unfinished to this time.

In 2020, Ivanishvili left 80,145 sq.m of land on the territory of the former hippodrome in the ownership of “Cartu,” which “Cartu” had received from “Invest Capital” in the same year. Later, in October 2023, a preliminary sales agreement for these plots was signed with LLC “Central Park Avenue,” which belongs to the businessman brothers – Levan and Samson [Soso] Pkhakadze, as well as Levan’s son – Vasil Pkhakadze.

The parties are keeping the purchase price secret, however, in the share pledge agreement of “Central Park Avenue,” in which the pledgee is “Cartu,” it is indicated that the value of the pledged property is 85 million US dollars.

According to the public registry, 2.5 years after the signing of the preliminary sales agreement, a land plot of 66,940 sq.m on the territory of the former hippodrome, at 13 Tamarashvili Avenue, still remains in the ownership of the “Cartu” foundation, as well as plots of 2,844 sq.m and 716 sq.m at the same address. As for the property of the Pkhakadze family’s company, at this time, only a 9,645 sq.m land plot is registered at 13 Tamarashvili Avenue.

Why are these lands not fully registered under the ownership of “Central Park Avenue”? – Vasil Pkhakadze did not answer this or any other questions for us.

Bidzina Ivanishvili’s lawyer, Teimuraz Tsikvadze, also left our questions unanswered, however, he told “The Guardian”: “According to this agreement, the future owner is LLC ‘Central Park Avenue’ (although a part of the territory – 9,645 square meters – is already fully transferred). The transfer of the remaining land to the future owner will take place after payment in accordance with the terms of the agreement.”

The founder of the “Cartu” foundation is JSC “Cartu Group.” According to the document submitted to the business registry, the owner of 100% of JSC “Cartu Group” is Bidzina Ivanishvili’s eldest son – Uta Ivanishvili. According to the information published on the website of “Cartu Bank,” Uta Ivanishvili owns a 35% share of JSC “Cartu Group.”

On December 27, 2024, the founder of Georgia’s ruling party – “Georgian Dream,” Bidzina Ivanishvili – was sanctioned by the United States of America “for undermining Georgia’s democratic and Euro-Atlantic future in favor of the Russian Federation.” At that time, the US was governed by the administration of Trump’s predecessor president, Joe Biden.

Who is Trump’s American partner of Georgian origin?

In the statement of the “Trump Organization,” the companies that will build “Trump Tower” in Tbilisi are named, among them is an American real estate development and management company – the “Sapir Organization.”

This organization is headed by Alex Sapir, whose father – Tamir Sapir, also known as Temur Sefiashvili, was born in Tbilisi in 1946. In the 1970s, like a large part of Jews living in the Soviet Union, he moved to Israel to live, and from there – to the US.

“I am extremely proud and honored to be building our second Trump building in the country where my parents were born and raised”. – says Alex Sapir.

Biographical details of Tamir Sapir are published on the website of the “Sapir Organization,” according to which, the rise of his business in New York is connected to the buying and pledging of taxi medallions. With the income received from pledging taxi medallions, Sapir opened a wholesale electronics store in New York, which was frequently visited for shopping by high-ranking officials and delegations from the Soviet Union.

In 1985, Tamir Sapir became a member of the “US-USSR Trade and Economic Council.” During the Soviet period, this organization was the main East-West trade organization. It was precisely as a result of working in this council that Sapir became one of the main partners of Russian oil production in the US: specifically, in the 1980s, Sapir sent American electrical equipment, clothing, and footwear to the USSR, and in return received the exclusive right to realize Soviet oil and oil products in the West. He sold this oil to American companies.

In the 1990s, Sapir invested the revenues received from Russian oil into Manhattan’s real estate portfolio, specifically, one after another, he acquired real estate in the heart of New York – on Madison Avenue, Fifth Avenue, Broadway.

Numerous pieces of information can be found in the American media regarding Tamir Sapir’s possible connection with the Soviet KGB, as well as illegal activities related to him. For example, “Forbes” reports that Sapir imported parts of rare animals into the US, specifically, in 2007 at Port Everglades, a wide variety of exotic animals and their parts were discovered on Sapir’s 150-foot yacht Mystere, including zebra hide rugs, bar stools made of python skin, and a toy lion.

The father and son Sapirs also figure in the files of the American financier and convicted offender for sexual crimes against minors, Jeffrey Epstein, though their participation in criminal acts related to Epstein is not recorded.

Trump SoHo – Sapir’s First Project Together with Trump

In 2006, Trump personally announced the construction of a 50-story complex – “Trump SoHo” – at 246 Spring Street in the center of New York. This was precisely the first joint project of the Trump and Sapir organizations.

“Tom [Tamir] and Alex came to us with a complete proposal. We looked at it, and we loved it,” – “New York” magazine quotes Trump and points out right there that at that time, Sapir was living in “Trump Tower.”

According to the same article, Trump mostly licenses his name out to third parties for an 8 to 15 percent cut.

In parallel with the business, the Sapirs became close to the Trump family in other ways as well. The grandiose wedding of Sapir’s daughter – Zina Sapir and Rotem Rosen was held in 2007 at Trump’s personal residence, Mar-a-Lago. Furthermore, Donald Trump and his son-in-law – Jared Kushner [the husband of Trump’s daughter – Ivanka Trump] were on the list of invited guests at their son’s circumcision ceremony.

How did Sapir and Trump’s first collaboration end?

“Trump SoHo” opened in 2010. In this year, Tamir Sapir was listed in the “Forbes” billionaires list with a fortune of 1.4 billion dollars. However, the events around “Trump SoHo” developed not so favorably.

This project came under a firestorm of criticism while still in the process of construction: initially due to the protest of local community organizations, which was caused by urban issues related to the construction; and then, due to the death of a worker as a result of falling from the construction.

To this was added the lawsuits of buyers in the “Trump SoHo” condominium, who were demanding the return of funds from the company: it became clear that only 16% of the spaces in “Trump SoHo” were sold, when according to public statements – this figure should have been 60%.

In 2014, Tamir Sapir died. In the same year, CIM Group wins Trump Soho in bankruptcy auction . “CIM Group”served as a lender to the Sapir Organization.

And in 2017, after Donald Trump won the US presidential election for the first time, the “Trump Organization” announced that it was terminating cooperation with “Trump Soho,” after which the name of the hotel was changed and it was named “The Dominick.”

“Trump Tower” and Georgia

In March 2011, during a ceremony held in New York, Donald Trump signed an agreement that envisioned the construction of two complexes valued at approximately 300 million US dollars, “Trump Tower,” in Georgia, namely in Batumi and Tbilisi.

The ceremony in New York was attended by the President of Georgia, Mikheil Saakashvili. Trump was planning to license his name in Georgia – his company would carry out the management of “Trump Towers” in Georgia. The partner of the “Trump Organization” in Georgia was the Silk Road Group, together with which the acquisition of funds was supposed to take place.

In approximately 1 year, in April 2012, Donald Trump arrived in Georgia and, together with the President Mikheil Saakashvili, attended the presentation of the project of the planned 47-story skyscraper in Batumi – “Trump Tower.”

The billionaire businessman enriched in Russia, Bidzina Ivanishvili, who was the leader of the opposition at that time – stated that Trump and Saakashvili pulled off a “good trick”: “That one was interested [because] some money was paid to Trump, and Saakashvili, as a master of lies, used this, and I don’t know what project we are talking about, I haven’t even looked at this seriously and I don’t care, by the way,” – Ivanishvili was saying in 2012, who came to power in the same year, and the announced project of “Trump Tower” was no longer implemented.

However, 14 years later, “Trump Tower” in Tbilisi will be built on the land whose owner until today is indicated to be a foundation connected with Ivanishvili.

Who are the Georgian partners of “Trump Tower”?

From the statement published on the website of the “Trump Organization,” we learn that the partners of the “Trump Tower” project in Tbilisi from Georgia are the companies: “Biografi Living,” “Finvest Georgia,” “Blox Group,” and “Archi Group.” Right there, a joint photo of the representatives of the companies participating in this project was published:

LLC “Biograpi Living” is one of those that the “Trump Organization” named among the partners of the Tbilisi project.

“Biograpi Living is one of the fastest-growing real estate developers in Georgia, backed by INVIA (formerly Wissol Group), one of the country’s largest and most diversified business groups, and Riverside Invest, an international investment vehicle”. – is stated in the “Trump Organization’s” statement.

Despite this, “Riverside Invest,” in a letter sent to “Monitor,” denied participation in the “Trump Tower” project. This [happened] after we asked the company’s director, Tamar Gamgoneishvili, about the founder’s Russian connections.

Russian Connections of “Riverside Invest”

According to a document of the National Bank of Georgia dated 2025, the director of “Riverside Invest,” Tamar Gamgoneishvili, worked at Ivanishvili’s bank “Cartu” in the position of the head of the asset-liability department in 2005-2017. And in 2001-2005, she was the head of the active operations department of the Russian bank “Slavyansky Kredit” in Moscow.

The position of the chairman of the supervisory board of “Slavyansky Kredit” was held by Paata Gamgoneishvili from 1994, meaning from the period of foundation, through 2016. The bank closed in 2020; one of its founders was also a Russian businessman of Georgian origin, Teimuraz Khikhinashvili [also known as TEIMUR BEN YEHUDA]. In various large development projects, their partner is Russian businessman Roland Isaev. Specifically, under the auspices of this joint development company, they built Moscow’s largest network of shopping centers – “Zolotoy Vavilon” [Golden Babylon], which currently operates under the name of “Europolis.” After Russia, they built the largest shopping center – Paradise Center mall – in the capital of Bulgaria, Sofia.

In one of the lawsuits, which was reviewed by the Eastern Caribbean Supreme Court and concerned large players of online gambling, the plaintiff names Russian businessman Roland Isaev as the beneficial owner of “Tall Trade.” However, in “Riverside Invest,” the owner of which is “Tall Trade,” they categorically deny the connection of Roland Isaev and Teimuraz Khikhinashvili with the ownership of this company.

Numerous documents are preserved in the public registry, according to which Tamar Gamgoneishvili is the representative of Paata Gamgoneishvili in various companies, including in connection with “Riverside Invest.”

It turns out that Paata Gamgoneishvili, who is currently a citizen of Bulgaria and has development projects in the US as well, has various types of connections with Russian oligarchs.

According to Russian “Forbes,” one of Paata Gamgoneishvili’s partners in the construction business in Russia was a Russian oligarch – the former president of the Russian oil company “Lukoil” and a former member of the Federation Council of the Russian Federation – Ralif Safin – the father of the Russian singer, Alsou.

“VSquare,” a network created by Czech, Hungarian, Polish, and Slovak investigative journalists, published an journalistic investigation last year, which focuses on how capital potentially connected with Russia is being managed in the Czech Republic. According to the investigation, Paata Gamgoneishvili owns hotels – “Eliška” and “Villa Ritter” – in the Czech resort town of Karlovy Vary through the company – “GPKV spol. s r.o.,” where his partner is also a businessman of Georgian origin and a former skier – Giorgi Orjonikidze.

According to the article, Orjonikidze’s coach was Leonid Tyagachev – the honorary chairman of the Russian Olympic Committee and the personal ski coach of the President of Russia, Vladimir Putin. The article states that Orjonikidze’s son bought a real estate company in Karlovy Vary from Tyagachev’s wife. According to the investigative journalists’ information, the financial accounts of Orjonikidze’s hotel in the Austrian Alps were being investigated by local law enforcement due to his possible connection with the sanctioned Russian oligarch Boris Rotenberg. Orjonikidze himself, during a conversation with journalists, confirmed acquaintance with Rotenberg, however, denied possible assistance in evading sanctions. To the journalists’ question – whether he personally knew Putin, Orjonikidze replied: “Everyone knows him – from television.”

Is Mr. Gamgoneishvili’s participation in “Trump Tower in Tbilisi” related to helping sanctioned Russian oligarchs? – We sent this question to the “Riverside Invest,” from where they wrote to us: “We inform you that we do not participate in the ‘Trump Tower’ project.”

As for Tamar Gamgoneishvili, she told us in a telephone conversation: “In the future, we might participate as a management company, we might participate in sales.”

In the letter sent from “Riverside Invest” to “Monitor,” we read: “The co-founder of ‘Biograpi Living,’ ‘Invia,’ is one of the founders of ‘Central Park Icon’ and is implementing the ‘Trump Tower’ project together with partners.”

Who are the partners of “Central Park Icon”?

LLC “Central Park Icon” was founded on March 24, 2026, meaning on April 17, when the “Trump Organization” released the statement, this organization was already active, however, in this statement, Vasil Pkhakadze speaks precisely on behalf of “Biograpi Living” and adds:

“Biograpi Living is not just building projects – we are shaping the future of urban living in Georgia. With landmark developments such as Trump Tower Tbilisi, developed in partnership with the Trump Organization, we are introducing a new level of ambition, quality, and global relevance to the city.”

In “Central Park Icon,” a 42.5% share is owned by LLC “Invia,” the owners of which, through the offshore company “Global Investors Limited,” are the Pkhakadze brothers.

As for the owner of a 42.5% share – it is JSC “Central Park Capital,” the owner of which is 25-year-old Luka Lapanashvili. Luka’s father – Levan Lapanashvili – is a partner in large business companies, including “Archi,” which is also involved in the “Trump Tower Tbilisi” project. Luka Lapanashvili left “Monitor’s” questions unanswered.

Connections of “Trump Tower’s” Georgian Partners with a Network of Fraudulent Online Casinos

In “Central Park Icon,” a 5% share is owned by LLC “Vilaro” – this organization was founded by Lasha Meladze in March 2026, however, in the statement published on the “Trump Organization’s” website on April 17, Lasha Meladze speaks as the co-founder of “Finvest Georgia.”

The shareholders of “Finvest Georgia” are: Tornike Tvauri, Lasha Meladze, Alexandre Makashvili, Merab Chikvinidze, and Mikheil Merebashvili, who at the same time are also the founders of the company “Upgaming.”

They caught the attention of “Monitor” a few months ago. From our journalistic investigation, it became clear that a network of online casinos operates without a license, meaning illegally, in the United Kingdom, which is owned by the company “Santeda International B.V” registered in Curaçao, while the payment agent is the Cypriot company “Santeda International Ltd.”

In a conversation with us, Tornike Tvauri categorically denied any connection of the company “Upgaming” with the illegal activities of “Santeda’s” online casinos, and confirmed only that “SANTEDA INTERNATIONAL BV” was a client of “UPGAMING LTD”, a Cypriot company of the UPGAMING group.

At that time, we obtained a document showing how the Cypriot “Upgaming Limited” allocated a loan of more than 6 million euros to the Georgian construction-development company “Upco,” which is owned by “Finvest Georgia,” one of the partners of “Trump Tower Tbilisi.”

This time, we also found out that “Santeda’s” unlicensed online casinos – Velobet, Cosmobet, and Rolletto – are managed by the Beast Partners. In the Intellectual Property Office of the United Kingdom [IPO UK], the trademark of the Beast Partners is registered by the company “Lambaro Limited”. Besides the Beast Partners, Lambaro Limited has registered the trademarks of several other online casinos connected to the “Santeda” network in the IPO UK, among which are GOLDENBET and DONBET.

Lambaro Limited is a company registered in Cyprus in 2024. The company was founded by “SERVICENOW NOMINEES LIMITED,” whose director was Katerina Iosif. The latter is the owner of the Cypriot CYGTW, which is the payment operator of GTW B.V, registered in Curaçao. It was the latter that transferred to itself several unlicensed online casinos of “Santeda,” including Mystake and Donbet.

The current owner of Lambaro Limited is a citizen of Georgia, Iuri Novitski. “Monitor” obtained numerous photo materials published on social networks, which confirm the close friendly relationship of Novitski and his family with one of the founders of “Finvest Georgia,” Mikheil Merebashvili.

Is the ownership of “Lambaro” formally registered under Novitski’s name, and does this company actually belong to you and your other companions in “Upgaming” and “Finvest Georgia”? – To this question of ours, Mikheil Merebashvili replied in writing as follows:

“I confirm to you that I am the founder of the companies ‘Finvest Georgia’ and ‘Upgaming.’ As for Santeda, it was a client of our company – Upgaming, however, the contract with them has been terminated as of March of this year. I will not comment on my acquaintance or relationship with other persons, because they have no connection with the business activities of my companies.”

In 2024, Sweden banned Santeda International B.V’s online casinos for unlicensed activity on their territory. Australia, on the other hand, gave an official warning. The Gambling Commission of Greece placed casinos connected with Santeda/Onyxion on the blacklist in 2021-2025.

Connections of “Trump Tower’s” Georgian Investors with the Mayor of Tbilisi

“Finvest Georgia” owns a 50% share in LLC “Blox Group,” which is another partner of “Trump Tower Tbilisi.” In this company, a 40% share belongs to LLC “Bloix,” the owner of which is Mzia Gigauri.

A few weeks ago, “Monitor” published a journalistic investigation, from which it became clear that in December 2025, Mzia Gigauri transferred a 30% share in LLC “Visionary” to Kakha Kaladze’s wife – Ana Areshidze – free of charge, though she did not wish to speak with us on this matter. This company sells expensive brand-name eyewear at the “Boygar’s” store, which belongs to the family of a Russian businessman of Georgian origin – Boygar Avsadzhanishvili – in Tbilisi.

Furthermore, we found out that Mzia Gigauri is the wife of Lasha Kvachadze, a businessman close to Kakha Kaladze. Lasha Kvachadze was in Dubai in March, exactly at the time when Kaladze, who had gone there to celebrate his birthday, got “stuck” for a few days after flights were canceled due to Iran’s retaliatory strikes against the US-Israeli attack.

On March 3, Lasha Kvachadze published a post on Facebook, according to which he was in Dubai with his family and, together with friends, managed to organize a private flight from Muscat in the direction of Tbilisi, and he was offering citizens to use this flight free of charge. A similar post was published on that day by the founder of “Archi Group,” Ilia Tsulaia, as well.

Lasha Kvachadze also owns a 10% share in “Central Park Icon” – through LLC “Remix Group,” which he recently renamed “Blox Stone” and appointed Avtandil Talakvadze as the director – the brother of the former Chairman of Georgian Parliament, Archil Talakvadze.

“Blox Stone” is one of the shareholders of the gambling company “Betlive.” The former director of “Betlive” is the director and one of the owners of “Finvest Georgia,” Tornike Tvauri. A share in “Betlive” is owned by Tamaz Kharaidze – the brother-in-law [wife’s brother] of Alexander Ivanishvili, who is the brother of Bidzina Ivanishvili; while Kharaidze’s brother-in-law [wife’s brother], Teimuraz Kopaleishvili, is the director of “Betlive.”

“Blox” appeared in the Georgian development business in 2016. According to the statement of the “Trump Organization,” the development sector of Blox Group includes 16 residential projects, which exceed 1 million square meters.

On June 5, it became known that Lasha Kvachadze’s company became the owner of one of Georgia’s largest development companies, “M2.”

Another partner organization of “Trump Tower Tbilisi” is “Archi Group.” According to the statement of the “Trump Organization,” “Archi” occupies 18% of the Georgian real estate market and it already has 55 completed projects.

One of the founders of “Archi,” Ilia Tsulaia, is a close friend of Kakha Kaladze.

“The founder of ‘Archi,’ Ilia Tsulaia, is my childhood friend. We were born and raised in the same city, he is the godfather of my child, but what does that have to do with anything? Or what is the problem regarding the fact that Ilia Tsulaia is my friend or my child’s godfather? If you find anything in connection with ‘Archi’ and in connection with any company showing that we, the municipality, have made an incorrect decision, look, I promise you that I will leave the position and apologize to the public,” – Kaladze said a few days ago on air on “Rustavi 2.”

Tsulaia was a member of Parliament from “Georgian Dream” in 2016-2020.

Why do they oppose turning the territory of the former hippodrome into concrete?

On August 16, 2024, the Tbilisi City Council approved the draft development regulation plan for the land plots located at No.13 Tamarashvili Avenue for a multifunctional and multi-apartment residential complex. The Tbilisi City Hall and City Council supported the change of the recreational zone to a public-business zone on the territory of the former hippodrome and the construction of skyscrapers there.

Ultimately, the permit for the construction of “Trump Tower” at 13 Tamarashvili Avenue must be issued by the Architecture Service of the Tbilisi City Hall.

Civil activists formed the movement “Hippodrome – Concrete-Free Side” in 2020, when Kaladze, together with Ivanishvili’s “Cartu,” held a presentation of the Central Park construction project there. The head of “Cartu,” Nikoloz Chkhetiani, told “BMG” in March that the Central Park will partially open by the end of 2026.

“On the hippodrome, the charity foundation ‘Cartu,’ Mr. Bidzina Ivanishvili’s family, is making a very cool Central Park. The project is ongoing, the works are ongoing, and it will be finished in the nearest future,” – Kakha Kaladze stated on May 31.

One of the members of the movement “Hippodrome – Concrete-Free Side,” Ana Trapaidze, tells us that “Trump Tower” will leave the Saburtalo district without a green zone. Another activist of the same movement, Elene Tsertsvadze, says that the territory of the former hippodrome played a sort of ventilation role for the Saburtalo district and its most important part was precisely the forest zone, which now must be cut down so that the “Trump Tower” complex can be built there.

In a letter from the Tbilisi Environmental Protection Service, it is stated that the service agrees to cut down 700 units of healthy trees, 175 aged trees, and to replant 1,924 units of green plants on the project territory.

“We are proud to bring this globally recognized standard of excellence to Georgia and are especially pleased to collaborate with such respected and professional developers on this project.” – this is a quote from Eric Trump, which the “Trump Organization” published in a press release regarding the “Trump Tower Tbilisi” project.

We sent questions to the “Trump Organization” – whether they have information that their partners in Georgia might be connected to a fraudulent network of online casinos and to Russia, while the land on which “Trump Tower Tbilisi” is to be built is in the ownership of the family of Bidzina Ivanishvili, who is sanctioned by the US, however, we have not received an answer. The “Sapir Organization” left our questions unanswered as well.