Ukrainian oligarch's stake in Poltava mining plant seized by state agency

The Pechersk Court of Kyiv has ordered the transfer of businessman Kostiantyn Zhevago's assets, including a 49.5% stake in the Poltava Mining and Processing Plant, to Ukraine's Asset Recovery and Management Agency (ARMA).

Source: the press service for Ukraine's State Bureau of Investigation (SBI)

Details: The assets were seized as part of an SBI investigation into Zhevago and his accomplices over the suspected embezzlement of US$113 million from Finance and Credit Bank.

On 20 February, the SBI announced that the assets and corporate rights of the Poltava Mining and Processing Plant would be transferred to state ownership due to sanctions against Zhevago.

Background: Earlier, the State Bureau of Investigation and the Ministry of Justice were preparing an appeal to the High Anti-Corruption Court to nationalise the assets and corporate rights of the Poltava Mining and Processing Plant.

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