French Court Seizes $40 Million Paris Mansion of Sanctioned Ukrainian Businessman Zhevago

In brief

• French authorities seized a Paris mansion worth $40 million and the full share capital of its holding company RM8, linked to Kostiantyn Zhevago.
• The seizure was made on 9 November at Ukraine's request for international legal assistance, with confirmation received on 10 November.
• The case concerns alleged embezzlement of $113 million from Finance and Credit Bank, which Zhevago denies.

Seizure carried out on Ukrainian request

French authorities have placed under seizure an elegant townhouse in Paris, which Ukraine's Prosecutor General's Office values at $40 million (У Парижі арештували особняк Жеваго: ОГП оприлюднив подробиці справи – Suspilne). The property is owned by Kostiantyn Zhevago, a Ukrainian businessman and former People's Deputy, who is under sanctions (Ukraine secures seizure of Paris mansion belonging to sanctioned businessman Zhevago – Ukrinform). The seizure also covers 100% of the statutory capital of RM8, the company that holds the real estate (Розтрата мільйонів банку: у Парижі арештували елітний особняк олігарха-втікача за $40 млн – TSN).

The measure was enforced on 9 November in response to a request for international legal assistance sent by the Prosecutor General's Office on 17 September (Франція наклала арешт на особняк українського олігарха та екснардепа Жеваго – Європейська правда). Kyiv received official confirmation from the French side on 10 November (У Парижі арештували особняк екснардепа Жеваго: його вартість - 40 мільйонів доларів – UNIAN).

Bank embezzlement case

The seizure is part of a criminal investigation led by the State Bureau of Investigation under prosecutors' supervision. Investigators allege that Zhevago, who controlled more than 90% of the share capital of Finance and Credit Bank, organised with other bank managers a scheme to misappropriate $113 million. The funds were allegedly laundered through offshore structures and other companies under his control. Ukrainian authorities have put the total loss at 608 million hryvnias.

The Pechersk District Court in Kyiv approved the asset seizure on 24 July 2026. Deputy Prosecutor General Anton Kovalskyi said the Paris property was worth $40 million.

Background and status

Ukraine issued an arrest warrant for Zhevago in 2019 and an international warrant in 2021. In November 2023, a French court rejected Ukraine's extradition request for him. Zhevago denies the charges.

Ukrainian officials stress that asset seizure is a precautionary measure. It does not amount to confiscation or a finding of guilt. Prosecutors say they continue to work with foreign authorities to trace and recover assets linked to the case.