Former deputy chairman of AT "Bank "Finances and Credit" arrested in Cyprus at Ukraine's request
Illustrative photo: Associate of Zhuvago arrested in Cyprus at Ukraine's request (ssu.gov.ua)
According to the Office of the Prosecutor General and the State Bureau of Investigation (DBR), Cyprus authorities have arrested a former deputy chairman of AT "Bank "Finances and Credit," who is an associate of the bank's owner, Kostiantyn Zhevago, for laundering over $100 million.
The suspect has been remanded in custody following a court decision.
Currently, DBR officials are preparing the necessary documentation for the extradition of Zhuvago's associate from Cyprus to Ukraine.
Zhevago Case
In late 2022, Kostiantyn Zhevago, a former member of parliament and businessman, was arrested at the French ski resort of Courchevel.
He had been under suspicion in a criminal investigation since September 2019 when he failed to appear for questioning by the DBR, opting to leave the country.
The investigation involves the embezzlement of $113 million from the bankrupt "Finances and Credit" bank, which was under his control. Assets worth millions of hryvnias, including shares in his companies, corporate rights, and 26 real estate properties, were seized.
Arrests were also made on properties of other legal entities associated with Zhevago, including 14 real estate complexes, 21 shares in real estate complexes, 30 non-residential premises, and 10 apartments.
However, Ukraine has been unable to achieve Zhevago's extradition. On March 30, 2023, the Chamber of the Appellate Court in Chambéry, France, rejected the extradition request for the fugitive MP.
The court justified its decision by stating that "the requesting state, which is in a state of war in an undefined situation, cannot provide a court that guarantees fundamental freedoms."
