Ukrainian Billionaire Zhevago Successfully Defends Against London Fraud Lawsuit
Ukrainian billionaire Kostyantyn Zhevago has successfully dismissed a fraud accusation in a London court related to embezzlement charges from Finance & Credit Bank, which went bankrupt.
Zhevago controlled Ferrexpo and had a significant stake in the bank prior to its failure. The bank's alleged rights holder, WWRT Ltd, sued Zhevago for allegedly funneling loans to his own companies.
However, Zhevago, a former Ukrainian parliament member, insists the case does not belong in London and rejects any misconduct.
Judge Richard Jacobs ruled in Zhevago's favor, marking a win for the billionaire, who faces other legal battles in Ukraine as the country fights corruption, a prerequisite for EU accession efforts.
Arrested in France on Ukraine's request in 2022, Zhevago was later bailed and kept from extradition. Meanwhile, Ukrainian authorities have targeted his assets, and disputes over royalty payments continue between Ferrexpo and Ukraine.
However, Zhevago, a former Ukrainian parliament member, insists the case does not belong in London and rejects any misconduct.
Judge Richard Jacobs ruled in Zhevago's favor, marking a win for the billionaire, who faces other legal battles in Ukraine as the country fights corruption, a prerequisite for EU accession efforts.
Arrested in France on Ukraine's request in 2022, Zhevago was later bailed and kept from extradition. Meanwhile, Ukrainian authorities have targeted his assets, and disputes over royalty payments continue between Ferrexpo and Ukraine.
