Court allows special investigation into Zhevago: $113 million case enters new phase

The Pechersk District Court of Kyiv granted permission to conduct a special pre-trial investigation into businessman and former MP Kostyantyn Zhevago. The petition was filed by prosecutors from the Prosecutor General’s Office.

According to the investigation, in 2007–2015, Zhevago, together with officials of JSC “Bank “Finance and Credit”, organized a scheme to illegally withdraw funds in the amount of 113 million US dollars. This involved lending to a controlled company in violation of banking procedures with the subsequent transfer of funds to offshore structures.

As a result of non-fulfillment of credit obligations, funds were written off from the bank’s correspondent accounts, which, according to the investigation, caused significant losses to the financial institution. In 2015, the National Bank of Ukraine declared the bank insolvent – it ended the year with losses of over 21 billion UAH.

Zhevago is accused of creating and leading a criminal organization, misappropriation and embezzlement of property, as well as legalization of proceeds from crime in particularly large amounts.

The case is accompanied by an international component. In December 2022, Zhevago was detained in France, but he was later released on bail of 1 million euros. Despite Ukraine’s request, the Supreme Court of France refused to extradite him.

In March 2026, the businessman was served with a suspicion in France. At the same time, his defense insists that the procedural actions took place voluntarily and calls the position of law enforcement agencies manipulative.

Currently, permission for a special pre-trial investigation opens the possibility of continuing criminal proceedings in the absence of the suspect, which could become a key stage in bringing him to justice.