Ukrainian authorities have formally charged Konstantin Zhevago, a former member of parliament and beneficiary of Finance and Credit Bank, with serious financial offenses. The charges, which include the creation of a criminal organization, embezzlement of significant assets, and money laundering, were presented on March 19, 2023, while Zhevago is currently in France.
The State Bureau of Investigations (DBR) and Prosecutor General Ruslan Kravchenko confirmed that the charges were delivered at the French National Fraud Control Agency as part of an international legal assistance request. A delegation of Ukrainian investigators and prosecutors traveled to Paris to facilitate the process, collaborating with French authorities.
Following the delivery of the charges, Zhevago was questioned as a suspect. He dismissed the allegations as unfounded and claimed they were politically motivated.
The case revolves around the misappropriation of funds from Finance and Credit Bank, which is undergoing liquidation. Investigators allege that Zhevago controlled over 96% of the bank’s charter capital and established a criminal organization among its top management.
Law enforcement officials assert that the scheme involved issuing loans to companies controlled by Zhevago, subsequently funneling the funds to offshore accounts through fictitious transactions for further laundering. The total losses incurred by the bank, including funds from depositors and refinancing from the National Bank, exceed 519 million hryvnias.
According to Forbes, Zhevago ranked fifth among Ukraine’s wealthiest individuals in 2022, with an estimated net worth of $1.4 billion prior to the Russian invasion.
In December 2022, Zhevago was arrested at a ski resort in France at Ukraine’s request, where he is sought in connection with the disappearance of $113 million from the bankrupt Finance and Credit Bank. He was released on a €1 million bail after his initial arrest near Chambéry. On March 30, 2023, a French court ruled against his extradition to Ukraine on embezzlement charges.
Authorities have imposed asset freezes on Zhevago and associated individuals, targeting shares in his companies, corporate rights, 26 real estate properties, four property complexes, 21 parts of property complexes, 30 non-residential premises, and ten apartments.
On August 3, 2023, the National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAP) charged Zhevago with bribing the head and judges of the Supreme Court in exchange for favorable rulings in a commercial dispute.
On February 12, 2025, Zhevago was included on a sanctions list by the National Security and Defense Council (NSDC) of Ukraine.
On May 8, 2025, the Bureau of Economic Security seized a building in central Kyiv owned by Zhevago, along with 291 million hryvnias held in accounts of a company he controls.
On August 8, 2025, the High Court of England and Wales issued an order to freeze the assets of the former owner of Finance and Credit Bank.
On October 15, 2025, the appellate chamber of the High Anti-Corruption Court (HACC) authorized a special pre-trial investigation into Zhevago.
Konstantin Zhevago, a former Ukrainian MP, faces serious charges including embezzlement and money laundering while in France. The case involves significant financial misconduct linked to Finance and Credit Bank, with losses exceeding 519 million hryvnias.