Property of fugitive oligarch transferred to the state: details of Zhevago case

5 March 06:22

The property of the fugitive oligarch has been transferred to the National Agency of Ukraine for Finding, Tracing and Management of Assets (ARMA). This was reported by "Komersant Ukrainian" with reference to the press service of the State Bureau of Investigation (SBI) and the Prosecutor General’s Office.

The reports do not name the defendant, but according to the materials, it is Konstantin Zhevago, who is the beneficial owner of the bankrupt Finance and Credit Bank and is currently abroad.

It is noted that the property was seized as part of the SBI investigation into the suspicion of the oligarch and his accomplices of embezzling $113 million from the Finance and Credit bank.

on February 28, 2025, the Pecherskyi District Court of Kyiv decided to grant the request of the Prosecutor General’s Office prosecutor to transfer the corporate rights of 16 companies belonging to the oligarch’s business empire to the ARMA. Among them is 49.5% of the authorized capital of Poltava Mining.

The court ruling has been transferred to the ARMA for execution.

What assets of Zhevago were seized

The seizure was imposed on the property of the suspected oligarch and related legal entities, including shares in his companies worth hundreds of millions of hryvnias, corporate rights of companies and 26 real estate objects.

In addition, the property of other legal entities associated with the former MP is under arrest, including:

14 property complexes
21 parts of property complexes
30 non-residential premises;
10 apartments and a yacht.

It is noted that in October 2020, assets worth more than UAH 300 million were transferred to the ARMA.

This property includes corporate rights, funds and 26 real estate objects, including health centers, hotels, residential and commercial premises located in the central parts of Kyiv, Kharkiv, Poltava and Kryvyi Rih. The total area of these properties is over 22 thousand square meters.

What is known about Zhevago’s case

As a reminder, the SAPO served Zhevago with a notice of suspicion in the so-called Knyazev case regarding the judge’s alleged receipt of an undue benefit for a decision in favor of the businessman regarding his purchase of a 40.19% stake in the Poltava Mining and Processing Plant.

The HACC has already begun hearing the Knyazev case on the merits.

Zhevago, according to the investigation, is staying outside Ukraine.

on December 27, 2022, the Ukrainian businessman was detained in the ski resort of Courchevel in the French Alps. Subsequently, a court in France finally refused to extradite Zhevago to Ukraine.

As a reminder, President of Ukraine Volodymyr Zelenskyy signed a decree on National Security and Defense Council sanctions against former President of Ukraine, MP Petro Poroshenko, oligarch Ihor Kolomoisky, his business partner Hennadiy Boholyubov, pro-Russian politician, ex-MP, who is now in Russia, Viktor Medvedchuk, and businessman wanted in the case of Finance and Credit Bank Konstantin Zhevago.

What are the sanctions against Zhevago?

on February 13, the decree imposing the sanctions was officially published. In addition to Poroshenko, the National Security and Defense Council also imposed restrictive measures against Ihor Kolomoisky, Hennadiy Boholyubov, Kostiantyn Zhevago, and Viktor Medvedchuk.

The sanctions against all five are indefinite and identical, and include 17 restrictions:

deprivation of state awards of Ukraine and other forms of recognition;
temporary deprivation of the right to use and dispose of assets
complete cessation of trade operations;
complete cessation of transit of resources, flights and transportation through the territory of Ukraine;
preventing the withdrawal of capital from Ukraine;
suspension of economic and financial obligations;
prohibition of participation in privatization and lease of state property;
a ban on the use of the radio frequency spectrum of Ukraine;
complete termination of electronic communication services and use of electronic communication networks;
a ban on public and defense procurement of goods, works and services;
a complete ban on the entry of foreign non-military vessels and warships into the territorial sea of Ukraine, its inland waters, ports and aircraft into the airspace of Ukraine or landing on the territory of Ukraine;
a ban on increasing the authorized capital of business entities, enterprises in which the sanctioned person owns 10 percent or more of the authorized capital or has influence on the management of the legal entity or its activities;
introduction of additional measures in the field of environmental, sanitary, phytosanitary and veterinary control;
termination of trade agreements, joint projects, and industrial programs in certain areas, including security and defense;
a ban on the transfer of technologies and rights to intellectual property;
a ban on the acquisition of land plots;
other sanctions that comply with the principles of their application established by this law (prohibition to enter into contracts and transactions; prohibition to execute transactions with securities issued by this person; prohibition to pay dividends or other payments related to corporate rights (ownership of shares, stocks, units) in favor of the person against whom the sanctions were imposed and persons acting on his behalf).