A Ukrainian oligarch on the run has been served with a summons in France
French authorities, with the participation of Ukrainian prosecutors and investigators from the State Bureau of Investigation (SBI), served a notice of suspicion to former Member of Parliament Kostyantyn Zhevago in connection with the embezzlement of over 519 million hryvnias.
According to information from Prosecutor General Ruslan Kravchenko dated March 19, the former owner of the bank, which is currently in liquidation, was questioned in Paris as a suspect. He is charged with establishing and leading a criminal organization, embezzlement on an especially large scale, and money laundering.
The investigation established that Zhevago, controlling over 96% of the bank’s authorized capital, involved top management in the systematic withdrawal of funds through a network of controlled companies and foreign financial institutions. The scheme involved entering into fictitious loan and guarantee agreements for the subsequent laundering of money abroad. In effect, the suspect used the bank’s resources—including depositors’ funds and refinancing from the National Bank of Ukraine—for his own private interests.
During proceedings in Paris, Kostyantyn Zhevago claimed the allegations were unfounded and called the prosecution politically motivated. The Prosecutor General emphasized that law enforcement agencies were prepared for such a defense stance and that the investigation is continuing within the framework of international legal assistance.
In November 2020, the Supreme Court upheld the decisions of the lower courts (Case No. 910/21578/16) and denied the cassation appeal filed by Kyivmedpreparat JSC, owned by Konstantin Zhevago. The NBU’s claim for repayment of the debt owed by Bank “Finance and Credit” from refinancing and foreclosure on several properties in central Kyiv was granted.
The Supreme Court refused to grant Oschadbank’s cassation appeal against the decisions of lower courts fully recognizing the state bank’s claims against oligarch Konstantin Zhevago’s company AvtoKrAZ.
The Enforcement Division of the State Enforcement Service Department of the Ministry of Justice initiated proceedings to seize the property of Zhevago’s company, “Kyiv Shipbuilding and Ship Repair Plant.” The plant serves as a property guarantor for the obligations of the bankrupt bank “Finance and Credit.”
