Ukrainian tycoon arrested in French ski resort in bank probe

PARIS –

A Ukrainian businessman and former lawmaker suspected of embezzling greater than $100 million has been arrested at a high-end ski resort within the French Alps, in keeping with Ukrainian authorities.

French police arrested Kostiantyn Zhevago in a resort in Courchevel on Tuesday based mostly on a world warrant, Ukraine’s State Bureau of Investigations stated in an announcement. It stated Zhevago had a courtroom look in Chambery scheduled Wednesday as a primary step towards eventual extradition.

The Chambery prosecutor’s workplace confirmed the arrest, and stated he would seem in courtroom Wednesday or Thursday for the primary stage within the extradition request course of. The prosecutor’s workplace is awaiting paperwork from Ukraine supporting the extradition demand, and wouldn’t remark additional on the case.

Zhevago was the principal beneficiary of Ukraine’s now-defunct Finance & Credit Bank and the previous chief govt of mining firm Ferrexpo, which is among the many world’s prime exporters of iron ore pellets and had an working base is in central Ukraine.

Zhevago served within the Ukrainian parliament from 1998 to 2019, primarily as an impartial.

In 2019, Ukrainian authorities launched a prison case accusing him and different prime managers of Finance & Credit Bank of collectively embezzling over $100 million from the financial institution. The investigations bureau stated their alleged scheme harmed “the interests of the state and the bank’s depositors.”

Ukraine issued an arrest warrant for Zhevago in 2019, with a world warrant following in 2021. Zhevago’s properties, firms linked to him and different belongings in Ukraine had been seized.

The arrest was introduced as France’s protection minister visited Ukraine to point out French navy assist for Ukrainian forces. His workplace stated the arrest had no hyperlink to the go to, the primary by a French protection chief since Russia invaded Ukraine.