The Deposit Guarantee Fund has taken legal action against Konstantin Zhevago, the owner of Finance and Credit Bank, to recover nearly UAH 46 billion in losses suffered by the bank and its creditors, as reported by EP.
The Fund's press service reported this.
The DGF clarified that the bank's creditors are being protected with the help of evidence obtained during the case against Zhevago in the High Court of England and Wales, even though the court found it is not authorized to hear the case under Ukrainian law. However, it acknowledged sufficient grounds for Zhevago's worldwide assets to be frozen, and received his written commitment to participate in the Ukrainian trial.
The court concluded that it lacks the jurisdiction to consider the case under Ukrainian law, but it acknowledged sufficient grounds for the worldwide arrest of Zhevago's assets and received his written obligation not to evade participating in the trial in Ukraine.
Viktor Novikov, Deputy Managing Director of the Fund, stated that the Fund has received final conclusions from London lawyers and started preparing for the trial in Ukraine. They have a strong evidence base consisting of over 7,000 original and copied documents, including letters, descriptions of schemes, and credit case materials totaling about 300,000 pages.
We remind :
The UK High Court rejected the Foundation's appeal in the FK case of Konstantin Zhevago, and the Foundation plans to continue the legal proceedings in Ukraine.
The London Court does not recognized its jurisdiction in the lawsuit of the Deposit Guarantee Fund of Individuals and Finance and Credit Bank against shareholder Konstantin Zhevago in a $600 million case.
The Foundation believes that the court lacks the jurisdiction to consider the case and emphasized the need to apply Ukrainian law, in which the court lacks expertise.
In February 2021, the Fund initiated a lawsuit to recover $582.5 million in damages from Konstantin Zhevago, three English companies, and a UK citizen involved in operations to withdraw funds from the bank.
Zhevago is suspected of being part of a scheme to embezzle and legalize UAH 2.5 billion from Finance and Credit Bank.
According to the SBI, an offshore company opened credit lines in foreign banks from 2007 to 2014, and Finance and Credit Bank provided guarantees to foreign banks with a pledge of over $113 million. In 2015, the foreign banks recovered this money from Finance and Credit accounts, and the deposit was written off immediately after the bank was declared insolvent.
In July 2021, Interpol placed oligarch Konstantin Zhevago on the international wanted list at the request of the State Bureau of Investigation.
The businessman's press service and lawyers also denied this information, citing the absence of official confirmation from Interpol.
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