The Power Within: The Kyiv Independent’s first-ever magazine. Be among the first to get it.

pre-order now
Skip to content
Edit post

Chief accountant of Zhevago's company charged with tax evasion, forgery

by The Kyiv Independent news desk February 2, 2023 4:25 PM 1 min read
This audio is created with AI assistance

The chief accountant of Poltava Mining and Processing Plant, part of Ferrexpo group, was charged with tax evasion and forgery, Ukraine's Security Service (SBU) reported. Ukrainian billionaire Kostyantyn Zhevago is the controlling shareholder of the iron pellet producer Ferrexpo.

According to the investigation, in 2018-2021, the suspect entered false information into the company's documents, which helped it to avoid paying Hr 2 billion ($54.6 million) in rent payments to the state budget for the use of the subsoil of the iron ore deposit.

Law enforcement opened criminal proceedings against the suspect under two articles of Ukraine's Criminal Code for alleged evasion of payment of taxes or fees and forgery.

Zhevago, who holds 51% of Ferrexpo shares, was arrested and detained earlier in France at Ukraine's request but then released on bail of 1 million euros, Ukrainska Pravda reported on Jan. 10, citing its sources in Ukrainian law enforcement.

Shortly after his arrest, Zhevago stepped down from the company's board of directors.

In 2019 Zhevago was charged with embezzling and laundering $113 million at Finance & Credit Bank. In 2021 Zhevago was put on the Interpol wanted list.

With a net worth of $1.4 billion, Zhevago is the fifth richest Ukrainian, according to a recent list by Forbes Ukraine. Ferrexpo is his main asset.

Zhevago was a member of Ukraine's parliament from 1998 to 2019.

News Feed

5:30 AM

Trump says he may meet Putin 'shortly' after May Middle East visit.

Despite ongoing ceasefire negotiations, Trump and Putin have yet to have direct contact, communicating only through their officials. Trump's last in-person encounter with his Russian counterpart was during the 2018 Helsinki Summit during the U.S. president's first term.
8:08 PM

Ukrainians react to US proposal of recognizing Crimea as Russian.

The U.S. media outlet Axios reported on April 23 that the U.S. President Donald Trump administration's final proposal for ending the Russia-Ukraine war included the U.S. de jure recognizing Russia's annexation of Crimea and de facto recognizing its control of other occupied Ukrainian territories. We asked Kyiv residents for their reactions to the U.S. proposal.
7:21 PM  (Updated: )

Trump says 'nobody is asking' Ukraine to recognize Crimea as Russian.

"Nobody is asking (President Volodymyr) Zelensky to recognize Crimea as Russian Territory, but if he wants Crimea, why didn’t they fight for it eleven years ago when it was handed over to Russia without a shot being fired?" U.S. President Donald Trump wrote.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.