SBI Asks Switzerland To Hand Over To Ukraine Arrested USD 113 Million, Which Belongs To Zhevaho

The State Bureau of Investigation, together with the National Agency for Identifying, Tracing, and Managing Assets Linked to Corruption and other Crimes (Asset Recovery Agency), is working to return more than USD 113 million from the Swiss Confederation in the accounts of companies whose ultimate beneficial owner is former parliamentarian, shareholder of Finance and Credit Bank JSC Kostiantyn Zhevaho.

It was reported to Ukrainian News Agency in the SBI.

The money was arrested on the basis of the corresponding decision of the investigative judge of the Pechersk District Court of Kyiv of October 26, 2022 at the request of the SBI.

The competent authorities of Switzerland notified the SBI that the amount of assets in frozen accounts exceeds USD 113 million.

Currently, the SBI is taking measures to apply the mechanism for transferring arrested funds to the Asset Recovery Agency.

Recall that as part of the investigation of the criminal proceedings, Zhevaho was notified of suspicion of committing criminal offenses under Part 3 of Art. 27, Part 5 of Art. 191, Part 3 of Art. 209 of the Criminal Code of Ukraine, and suspicions were also reported to a number of top managers of the bank.

They organized a mechanism to embezzle USD 113 million of financial institutions, which harmed the interests of the state and depositors of the bank.

So far, Zhevaho’s property, as well as related legal entities, have been seized.

In particular, the shares of his enterprises for hundreds of millions of hryvnias, corporate rights of societies, 26 real estate objects.

Also, the property of other legal entities associated with the former MP was arrested.

Among other things, these are 14 property complexes, 21 parts of property complexes, 30 non-residential premises, 10 apartments, a helicopter, a yacht.

In October 2020, arrested assets worth more than UAH 300 million were transferred to the Asset Recovery Agency. These are assets in the form of corporate rights, funds and 26 real estate objects - health centers, hotels, residential and commercial premises located in the central parts of Kyiv, Kharkiv, Poltava, Kryvyi Rih, with a total area of more than 22,000 sq.m.

The SBI actively cooperates with the justice, gendarmerie and police of the French Republic.

On March 30, the investigative chamber of the Chambery Court of Appeal issued a court decision, which dismissed a petition for the extradition of Zhevaho.

The prosecutor plans to file an appeal against this decision, while the term of the previously chosen preventive measure in the form of house arrest for Zhevaho was extended.

As Ukrainian News Agency earlier reported, France refused to extradite Zhevaho to Ukraine.

The State Bureau of Investigation suspects Zhevaho of involvement in the embezzlement of UAH 2.5 billion of Finance and Credit Bank and the legalization (laundering) of criminal funds.

A court in France released Zhevaho on bail of EUR 1 million.