Special Pretrial Investigation Launched Against Kostyantyn Zhevago
Ukraine's Pechersk District Court in Kyiv has granted permission to conduct a special pretrial investigation against Kostyantyn Zhevago, following a request from the Office of the Prosecutor General. Zhevago, a former member of parliament and the beneficial owner of the Bank Finance and Credit, is suspected of involvement in large-scale embezzlement of bank assets and money laundering. According to investigators, between 2007 and 2015, he conspired with bank officials to orchestrate a scheme that siphoned $113 million (over UAH 2.5 billion at the time) out of the financial institution.
Extradition Status and Sanctions
The investigation alleges that a Ukrainian company controlled by Zhevago received a loan in violation of lending regulations, and the funds were subsequently funneled to offshore entities linked to him. The Prosecutor General's Office states that 'he is suspected of involvement in the large-scale embezzlement of bank property and the legalization of proceeds obtained through criminal means.'
Zhevago is currently residing in France, where a French court has denied his extradition to Ukraine. The Paris Court of Appeal also rejected the extradition request. Notably, on February 12, 2025, Zhevago was placed under sanctions by Ukraine's National Security and Defense Council.
- In 2021, Zhevago's net worth was estimated at $2.4 billion.
- By early 2025, Forbes had revised his fortune down to $1.5 billion.
- Zhevago is also charged with creating and leading a criminal organization.
The Zhevago case remains a focal point for Ukrainian law enforcement and the public, complicating his business operations and tarnishing his reputation. This situation highlights the broader challenges Ukraine faces in prosecuting high-profile financial crimes and corruption.
The scale of the alleged offenses and the sanctions imposed on Zhevago suggest further developments could impact Ukraine's financial sector. At the same time, the French courts' refusal to extradite him presents significant obstacles for Ukrainian authorities seeking to advance the investigation.