France seizes Ukrainian oligarch Zhevago's $40 million Paris mansion in embezzlement investigation

Ukrainian business magnate Kostyantyn Zhevago's $40 million Paris residence has been seized by French authorities at the behest of Ukrainian prosecutors, according to a report on November 13. The property was taken on November 9 as part of a probe into allegations that Zhevago embezzled $113 million from Ukraine's defunct Finance and Credit Bank, which he once owned.

Zhevago, who held over 90% of the bank's share capital, allegedly conspired with other high-ranking officials to siphon off the funds, which were then laundered through offshore entities under his control. The seizure came following a request for international legal aid submitted by Ukrainian prosecutors on September 17, with confirmation of the action provided by French authorities on November 10.

Ukrainian officials hailed the move as a significant victory for their justice system, working in tandem with international partners to ensure assets beyond the country's borders remain under their jurisdiction. Zhevago, a prominent shareholder in iron ore giant Ferrexpo, has faced multiple criminal probes in Ukraine and was sanctioned by Ukrainian authorities in February 2025.

He was detained in France in December 2022 at the request of Ukraine but was subsequently released on bail. Despite extradition requests denied by French courts, most recently in October 2025, Zhevago maintains his innocence.