CHAMBERY, France, Jan 5 (Reuters) – A French court on Thursday ruled to release Ukrainian billionaire Konstantin Zhevago on bail ahead of a Jan. 19 extradition hearing over whether he should be sent to Ukraine to face embezzlement charges.
Zhevago was not arrested: the 48-year-old billionaire who controls the London-registered iron pellet producer Ferrexpo (FXPO.L) was arrested in France in late December at the request of Ukraine and has since been under arrest. guards.
The State Bureau of Investigation of Ukraine DBR stated that the billionaire is wanted on suspicion of embezzlement and money laundering related to the disappearance of $ 113 million from the now bankrupt Finance and Credit Bank.
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The businessman, one of the richest people in Ukraine, told the court that he had done nothing wrong and should not be extradited.
“I am in prison for the first time. I didn't do what I'm accused of in this case, I don't deserve it,” he said through an interpreter.
“I ask your permission to leave the prison until the next hearing, and I will do whatever you asked,” he said.
A court in Chambéry, in eastern France, said it had agreed to release him on bail of 1 million euros ($1.05 million), which confirms the report of one of Zhevago's lawyers, François Zimer.
The court added that Zhevago, who cannot leave France, must hand over his two passports to the authorities, report to the local police three times per week and answer court calls.
The court was originally supposed to hold an extradition hearing on Thursday, but Zhevago's lawyers and the prosecutor said they needed more time to prepare, to which the judges agreed, setting a new date for January 19.
Ukraine issued an arrest warrant for Zhevago in 2019, and an international warrant in 2021.
His arrest in France comes amid a broader effort by Ukraine to clean up the oligarch-dominated economy. Since Ukraine's independence in 1991, its political system and economy have been dominated by a small group of elites. President of Ukraine Volodymyr Zelensky has promised to reduce the role of oligarchs in the economy.
Forbes Ukraine monthly estimated Zhevago's fortune at $2.4 billion in 2021. The publication estimated Zhevago’s fortune at $1.4 billion at the end of 2022.
“He must be able to continue to manage his business, his business, and in prison it is very difficult,” one of Zhevago’s lawyers told the court , Etienne Arnault, advocating his release.
Juliet Jabhiro, Skelet.Info
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