How the owner of the “Finance and Credit” group saved his shares with bribes worth millions
18 May 21:53
In 2002, a businessman and owner of the “Finance and Credit” group acquired a 40.19% stake in the mining and processing plant. However, 18 years later, the former shareholders challenged the agreement in court. The trial court dismissed the claim, but in 2022, the appellate court overturned that decision and declared the agreement invalid. This was reported by the NABU press service , as relayed by "Komersant Ukrainian".
To avoid losing his shares, in March–April 2023, the businessman transferred $2.7 million through an intermediary to a lawyer who was a member of the so-called “back office” of the Supreme Court. The lawyer was supposed to pass these funds on to the court’s chief justice to ensure the adoption of the “desired” decision. In April 2023, the Supreme Court ruled in favor of the businessman.
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On May 15, 2023, the Chief Justice of the Supreme Court and the lawyer were caught in the act of receiving a second tranche of illicit benefits amounting to $450,000. The case against the former high-ranking official is being heard in the High Anti-Corruption Court (HACC).
Suspicions and Legal Proceedings
In August 2023, the businessman himself was notified of the suspicion, and his accomplice in September 2025.
In accordance with Part 1 of Article 62 of the Constitution of Ukraine, “a person is presumed innocent of committing a crime and may not be subjected to criminal punishment until their guilt is proven in accordance with the law and established by a court conviction.”
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I would like to note that the“Finance and Credit” bank previously belonged to Kostyantyn Zhevago.
Who is Konstantin Zhevago
Konstantin Zhevago is a Ukrainian businessman and politician who was among the wealthiest people in the country.
According to the Chesno movement , Konstantin Zhevago is a former member of the Verkhovna Rada of the 3rd, 4th, 5th, 6th, 7th, and 8th convocations. He is a subject of anti-corruption investigations regarding tax and abuse of power.
In 2026, Zhevago was charged in France in a case involving the embezzlement of over half a billion hryvnias from the “Finance and Credit” bank, which belonged to the former MP himself.
In July 2025, law enforcement officials reported that they had uncovered a large-scale pharmaceutical scheme involving Zhevago, who organized the production and distribution of Ukrainian medicines on the territory of the Russian Federation.
According to the investigation, Zhevago personally oversaw the transfer of rights and production technologies from Ukrainian companies. As a result, a number of medical products under the trademarks of Ukrainian companies became officially registered in Russia.
In 2025, the National Security and Defense Council (NSDC) imposed personal sanctions against Zhevago. These sanctions included the revocation of state awards, asset freezes, trade restrictions, and restrictions on capital outflows from Ukraine.
In 2023, Zhevago was implicated in the case involving the arrest of Supreme Court Chief Justice Vsevolod Knyazev. The National Anti-Corruption Bureau of Ukraine (NABU) established that Knyazev had received a $3 million bribe from individuals who lobbied for a court ruling in favor of Kostyantyn Zhevago.
That same year, a Kyiv.Postinvestigative report found that the volume of Zhevago’s companies’ transactions with Russia between 2017 and 2022 exceeded 7.5 billion hryvnias. Although Zhevago himself has always denied doing business with Russia.
In 2022, Zhevago was detained in Courchevel, France, at the request of the State Bureau of Investigation (DBR). Subsequently, a local court issued an extradition arrest warrant for the businessman. Zhevago was notified of his status as a suspect in criminal offenses. However, the court hearings were frequently postponed, and a few months later, Zhevago posted bail of one million euros and was released from custody. He is prohibited from leaving mainland France and must regularly report to the police station.
Additionally, the Economic Security Bureau opened criminal proceedings against Zhevago’s company, which is suspected of tax evasion amounting to 94.6 million hryvnias.
At the end of the year, the State Bureau of Investigation (SBI) conducted searches at enterprises linked to Zhevago. The reason was to verify information regarding Zhevago’s and other individuals under his control’s involvement in collaborationist activities (Part 4 of Article 111-1 of the Criminal Code of Ukraine), that is, the operation of his enterprises in the interests of Russia.
In 2021, Interpol issued an international arrest warrant for Kostyantyn Zhevago in connection with the embezzlement of $113 million.
That year, he was the third-richest Ukrainian according to Forbes.ua. His total net worth was $2.4 billion.
In 2019, he ran for the 9th convocation of the Verkhovna Rada in constituency No. 150 (Poltava Oblast) as an independent candidate, but lost.
Forbes magazine estimated Zhevago’s fortune at approximately $1.5 billion, making him the second-richest Ukrainian after Rinat Akhmetov.
That same year, the National Anti-Corruption Bureau of Ukraine ( ) opened a criminal case against Zhevago regarding his possible involvement in the embezzlement of 2.5 billion hryvnias. According to an audit by the Deposit Guarantee Fund, Zhevago and another top manager of the “Finance and Credit” bank issued several knowingly bad loans totaling nearly 5 billion hryvnia in order to embezzle the funds. A Kyiv court ruled to recover 1.5 billion hryvnia from Zhevago in favor of the National Bank of Ukraine.
At the end of the year, Zhevago was placed on an international wanted list due to his systematic failure to appear for questioning by the State Bureau of Investigation (SBI) in a criminal case in which the businessman and politician was a suspect. A court decision on the compulsory recovery of funds also came into effect.
In addition, the Specialized Anti-Corruption Prosecutor’s Office (SAPO) notified Zhevago of his suspicion of providing false information in his income declaration.
In 2014, he was elected as a People’s Deputy of the Verkhovna Rada of the 8th convocation in constituency No. 150 (Poltava Oblast) as an independent candidate, unaffiliated with any faction. He is a member of the Verkhovna Rada Committee on Legal Policy and Justice.
He was frequently absent from plenary sessions and committee meetings in the Verkhovna Rada of the 8th convocation.
In 2012, he was elected a People’s Deputy of the 7th convocation as an independent candidate in constituency No. 150 and was not affiliated with any faction.
From 2006 to 2012, he served as a People’s Deputy in the 5th and 6th convocations representing the “Yulia Tymoshenko Bloc.” Both times, he was No. 62 on the list and was unaffiliated.
He owns 51% of the shares in Ferrexpo AG (a group of companies whose main assets are several iron ore producers in the Poltava region of Ukraine).
In 1998 and 2002, he was elected a member of the Verkhovna Rada of the 3rd and 4th convocations in constituencies No. 149 and No. 150, respectively (Poltava Oblast). Both times, he was an independent candidate.
From 1996 to 1998, he served as chairman of the board of the “Finance and Credit” Financial and Industrial Group, deputy chairman of the board of JSC “Poltava Mining and Processing Plant,” and a member of the supervisory board of JSC “Ukrnafta.” From 1993 to 1995, he served as the financial director of the closed joint-stock company “Finance and Credit.”
He is the owner of the “Vorskla” football club.
He graduated from the Kyiv National Economic University with a degree in “Accounting and Analysis of Foreign Economic Activity.” He holds a Ph.D. in Economics.
He was born on January 7, 1974, in the village of Iultin, Russian Federation.
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