Ukrainian businessman Kostiantyn Zhevago detained in France under suspicion of embezzlement

28 December 2022, 06:23 PM
Zhevago was detained in the case of the embezzlement of $113 million of the Finance and Credit bank, of which he is a shareholder (Photo:Олександр Медведєв/НВ)

Zhevago was detained in the case of the embezzlement of $113 million of the Finance and Credit bank, of which he is a shareholder (Photo:Олександр Медведєв/НВ)

Ukrainian businessman and former lawmaker Kostiantyn Zhevago, suspected of embezzling $113 million from the Finance & Credit Bank, has been arrested at high-end ski resort Courchevel in France, Ukraine's State Bureau of Investigation (DBR) reported on Telegram on Dec. 28.

French police arrested Zhevago in a hotel on Dec. 27. Mykhailo Tkach, a journalist with Ukrainska Pravda identified the hotel as Le K2 Palace Courchevel.

Hotel Le K2 Palace Courchevel (Фото: Михайло Ткач / Telegram)
Hotel Le K2 Palace Courchevel / Фото: Михайло Ткач / Telegram

According to the DBR, Zhevago first tried to challenge the legality of the detention, but finally relented after finding his efforts unsuccessful.

Video of day

Ukrainian authorities will now be pushing for Zhevago’s extradition.

In addition, a number of Zhevago’s assets have been seized:

  • shares of Zhevago enterprises worth hundreds of millions of hryvnias,
  • corporate rights,
  • 26 real estate objects,
  • 14 property complexes,
  • 21 parts of property complexes,
  • 30 non-residential utilities,
  • 10 apartments

The arrested assets, in total worth over UAH 300 million ($8.2 million) have been transferred to the Asset Recovery and Management Agency (ARMA)

Zhevago has denied any accusations of wrongdoing.

Zhevago has been on Ukraine’s most-wanted list since October 2019, and added to the international wanted list in July 2021.

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