The property of oligarch Kostyantyn Zhevaho, who is suspected of embezzling $113 million from Finance and Credit Bank, was seized by the court and transferred to the administration of the Asset Recovery and Management Agency (ARMA).
The State Bureau of Investigation (SBI) reports this without naming the person involved, but the details of the case suggest that it is Zhevaho.
In total, shares of 16 enterprises owned by the oligarch were transferred to the management of ARMA, including 49.5% of the authorized capital of the Poltava Mining and Processing Plant.
The case of Kostyantyn Zhevaho
The State Bureau of Investigation had previously reported suspicions of Zhevaho and a number of bank executives for organizing the embezzlement of $113 million from the bank. The property of Zhevaho and legal entities associated with him was seized. This includes shares of his enterprises worth hundreds of millions of hryvnias, corporate rights of companies, 26 real estate properties, 14 property complexes, 21 parts of property complexes, 30 non-residential premises, 10 apartments, a helicopter, and a yacht.
In October 2020, the seized assets worth over 300 million hryvnias were transferred to the administration of ARMA. The assets include corporate rights, money, and 26 real estate properties — health complexes, hotels, residential and commercial premises in the center of Kyiv, Kharkiv, Poltava, and Kryvyi Rih with a total area of over 22 thousand square meters.
In May 2024, billionaire Zhevaho and his accomplices received new suspicion in the case with the Finance and Credit bank.
The case concerns the withdrawal of 519 million hryvnias from the bank to offshore companies. According to the investigation, the illegal lending scheme of Zhevaho caused the bank losses of 1.4 billion hryvnias.
- On December 28, 2022, Kostyantyn Zhevaho was arrested in the Courchevel ski resort in the French Alps and sent to extradition custody the next day. However, he posted a million euro bail and was released from custody with an undertaking not to leave mainland France.
- In November 2023, a court in France finally refused to allow the extradition of billionaire Kostyantyn Zhevaho to Ukraine. The courtʼs arguments were that Ukraine, in a state of war, cannot guarantee a fair trial and the right to defense.
For more news and in-depth stories from Ukraine please follow us on X.