French authorities have seized a Paris mansion worth approximately €36 million ($40 million) belonging to Ukrainian businessman and former lawmaker Kostyantyn Zhevago as part of an investigation into the alleged embezzlement of approximately €102 million ($113 million) from a bank he previously controlled, according to Ukraine’s Prosecutor General’s Office. The seizure took place on November 9 following a request from Ukrainian prosecutors. Investigators allege that Zhevago, who controlled more than 90% of Finance and Credit Bank’s share capital, conspired with senior executives to divert funds and launder them through offshore companies. The bank was declared insolvent in 2015. Zhevago, a major shareholder in iron ore producer Ferrexpo, has denied wrongdoing. French courts have repeatedly rejected Ukrainian requests for his extradition. The businessman was also among several prominent figures sanctioned by Ukrainian authorities in February 2025. The seizure forms part of Ukraine’s efforts to secure assets in the investigation into the alleged embezzlement from Finance and Credit Bank.
