A Ukrainian court has seized shares owned by billionaire Kostyantyn Zhevago in iron pellet producer Ferrexpo (FXPO.L) following compensation claims over his now bankrupt bank, Ukraine's Deposit Guarantee Fund said. Zhevago is under investigation in Ukraine on suspicion of embezzlement and money laundering linked to the disappearance of $113 million from lender Finance & Credit Bank (F&C), which was declared bankrupt in 2015. Zhevago has denied any wrongdoing. The Kyiv commercial court decided to seize 50.3% stakes in the Poltava, Eristivskiy and Bilanivskiy mining plants that belonged to Zhevago via Ferrexpo, the statement said. The facilities are located in central Ukraine. To read the original story by Reuters, click here.
Ukrainian Court Seizes Majority Owner's Shares In Ferrexpo
Ukrainian oligarch Kostyantyn Zhevago (file photo)