French authorities serve suspicion notice to ex-MP Zhevago in UAH 500M bank embezzlement case

According to Ukrinform, Ukrainian Prosecutor General Ruslan Kravchenko announced this on Telegram.

"Today in Paris, as part of a request for international legal assistance, authorized bodies of the French Republic, with the participation of Ukrainian prosecutors and investigators from the State Bureau of Investigation, served a notice of suspicion to a former MP and owner of Finance and Credit Bank, which is currently under liquidation," the statement said.

Kravchenko noted that Zhevago is suspected of creating and leading a criminal organization, large-scale embezzlement, and laundering proceeds obtained through criminal activity.

"After the notice of suspicion was served, he was questioned as a suspect," the prosecutor general added.

According to the investigation, the suspect, who effectively controlled more than 96% of the bank's authorized capital for a long time, created and led a structured criminal organization involving top bank managers.

The scheme involved systematically siphoning off bank funds through a network of affiliated companies and foreign financial institutions – from fictitious loan and guarantee agreements to the subsequent transfer and legalization of funds abroad.

"In essence, this concerns the use of the bank's financial resources, including depositors' funds and refinancing from the National Bank of Ukraine, for the private interests of the beneficiary," Kravchenko said.

The total confirmed damages exceed UAH 519 million, he added.

The procedural step became possible due to effective cooperation between Ukrainian law enforcement agencies and the French side.

"This once again confirms that accountability applies regardless of a person's status, influence, or country of residence," Kravchenko said.

Zhevago, for his part, called the charges unfounded and politically motivated. "We were prepared for this. The investigation is ongoing," Kravchenko said.

According to the State Bureau of Investigation, the procedural action was carried out on March 19, 2026, in France with the participation of the country's competent authorities. A Ukrainian delegation of SBI investigators and prosecutors from the Prosecutor General's Office traveled to Paris as part of international legal assistance procedures.

The notice of suspicion was served at France's National Anti-Fraud Office.

The case concerns the creation of a criminal organization and the embezzlement of funds from Finance and Credit Bank. Investigators say the oligarch organized the scheme with the involvement of bank officials. Loans were allegedly issued to a company controlled by the suspect, after which funds were transferred to non-resident accounts through fictitious agreements for further laundering.

Zhevago is charged with creating and leading a criminal organization, organizing large-scale embezzlement as part of such an organization, and laundering illicitly obtained assets.

On December 27, 2022, French law enforcement detained Zhevago at the Courchevel resort at the request of the SBI.

In January 2023, a court in Chambery released him on EUR 1 million bail pending an extradition hearing. In March 2023, France rejected Ukraine's extradition request.

In November 2023, the SBI served suspicion notices to one of the bank's executives over the embezzlement of more than UAH 560 million. In May 2024, new charges were brought against Zhevago and three accomplices in an embezzlement case.