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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 accordance with Ukrainian authorities.
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French police arrested Kostiantyn Zhevago in a lodge in Courchevel on Tuesday primarily based on a global warrant, Ukraine’s State Bureau of Investigations stated in a press release. 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.
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Zhevago was the principal beneficiary of Ukraine’s now-defunct Finance & Credit score Financial institution and the previous chief govt of mining firm Ferrexpo, which is among the many world’s high exporters of iron ore pellets and had an working base is in central Ukraine.
Kostiantyn Zhevago, billionaire and chief govt officer of Ferrexpo Plc, walks to his car after a marketing campaign occasion on the Palace of Tradition in Horishni Plavni, Ukraine, on Thursday, July 11, 2019. (Evgeniy Maloletka/Bloomberg through Getty Pictures / Getty Pictures)

The Nationwide Financial institution of Ukraine constructing is seen in Kyiv, Oct. 6, 2021. (iStock / iStock)
Zhevago served within the Ukrainian parliament from 1998 to 2019, primarily as an unbiased.
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In 2019, Ukrainian authorities launched a prison case accusing him and different high managers of Finance & Credit score Financial institution of collectively embezzling over $100 million from the financial institution. The investigations bureau stated their alleged scheme harmed “the pursuits of the state and the financial institution’s depositors.”
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Ukraine issued an arrest warrant for Zhevago in 2019, with a global warrant following in 2021. Zhevago’s properties, corporations linked to him and different belongings in Ukraine have 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.