The assets of businessman Kostyantyn Zhevaho were seized in Ukraine

Anna Kholodnova

The court seized the assets of the owner of the bank "Finance and Credit" Kostyantyn Zhevaho in the case of indemnification of the bankʼs losses in the amount of UAH 46 billion in Kyiv. The lawsuit was filed by the Deposit Guarantee Fund.

According to the law of Ukraine, managers, shareholders and beneficiaries of an insolvent bank are obliged to provide the Deposit Guarantee Fund with information on all their property, assets and liabilities upon request. Kostyatyn Zhevaho did not do this.

The court seized Zhevahoʼs 50.3% stake in three mining and beneficiation plants of his Ferrexpo group: Poltava, Yerystiv and Bilaniv. Zhevaho indirectly owns these assets through Ferrexpo.

The court also prohibited other companies related to him from alienating the specified assets.

  • Zhevaho is a suspect in the case of embezzlement of over 2.5 billion hryvnias of the liquidated bank "Finance and Credit". Ukraine issued an arrest warrant for Zhevaho in 2019, and an international warrant in 2021.
  • In 2021, Forbes Ukraine estimated Zhevahoʼs fortune at $2.4 billion. As of the end of 2022, the publication estimated his capital at $1.4 billion.
  • On December 28, 2022, he was detained at the ski resort of Courchevel in the French Alps and sent to extradition detention the next day. The issue of the return of the ex-national deputy to Ukraine is being resolved.
  • On January 10, Kostyantyn Zhevaho posted bail in the amount of one million euros and was released from custody. He is currently not allowed to leave mainland France, where he was arrested.