Key facts
- French authorities seized the Paris mansion on November 9, Ukraine's Prosecutor General's Office said.
- The $40 million property was seized in connection with an alleged $113 million embezzlement from Finance and Credit Bank.
- Investigators allege Zhevago controlled more than 90% of the bank's share capital and conspired with other officials.
- Ukrainian prosecutors requested international legal assistance on September 17; France confirmed the seizure on November 10.
- Zhevago, a major shareholder in iron ore producer Ferrexpo, was sanctioned by Ukrainian authorities in February 2025.
- Zhevago has denied wrongdoing.
French authorities seized a Paris mansion worth $40 million belonging to Ukrainian businessman and former lawmaker Kostyantyn Zhevago at the request of Ukrainian prosecutors, Ukraine's Prosecutor General's Office reported on November 13. The property was seized on November 9.
The seizure is part of an investigation into the alleged embezzlement of $113 million from Ukraine's now-defunct Finance and Credit Bank, which Zhevago previously controlled. According to investigators, Zhevago, who controlled more than 90% of the bank's share capital, allegedly conspired with other senior bank officials to embezzle the funds, which were subsequently laundered through offshore structures and companies under his control.
The seizure followed a request for international legal assistance submitted by Ukrainian prosecutors on September 17. Ukrainian authorities received confirmation of the seizure from their French counterparts on November 10.
"This is another important piece of evidence that assets abroad are not beyond the reach of Ukrainian justice. We continue working toward this goal together with our international partners," acting Prosecutor General Anton Kovalsky said.
Zhevago, a major shareholder in iron ore producer Ferrexpo, has faced several criminal investigations in Ukraine and was sanctioned by Ukrainian authorities in February 2025. He was detained in France in December 2022 at Ukraine's request but was later released on bail. French courts have repeatedly rejected requests for his extradition, most recently in October 2025, citing concerns over his right to a fair trial in Ukraine. Zhevago has denied wrongdoing.