SBI served notice of suspicion to officials of Ferrexpo Poltava Mining owned by fugitive oligarch Zhevago

The SBI, together with other law enforcement agencies, continues to systematically prove the illegal actions of former MP Kostyantyn Zhevago and his affiliated companies.

The SBI, in cooperation with the Security Service of Ukraine and the Prosecutor General's Office, served a notice of suspicion to the management of Ferrexpo Poltava Mining, owned by the fugitive oligarch. Suspicion was served to the management of the plant, the heads of the departments that facilitated the company's financial fraud deals, and the heads of the shell companies through which the machinations were carried out.

The SBI investigation established that the plant's executives unlawfully obtained almost UAH 400 million from the extraction and subsequent sale of state-owned minerals without the required permits. 

In particular, the company's top management sold crushed stone, a raw material produced from the waste of mineral extraction in a quarry. The sales were conducted without the necessary permits.

Cash from the sale was withdrawn through conversion centres and divided among the members of the criminal group. 

Наразі проведено 15 обшуків на території міста Києва, а також Харківської та Полтавської областей, в So far, 15 searches have been conducted in Kyiv, Kharkiv and Poltava regions, in the offices and residences of top managers of Ferrexpo Poltava Mining, as well as in shell companies and transit and conversion firms.

6 persons have already been served notices of suspicion of committing criminal offences under Part 5 of Art. 191 (misappropriation of property by abuse of office by an official in an organised group on a particularly large scale) and Part 3 of Art. 209 (transactions with property for which the factual circumstances indicate that it was obtained by criminal means, committed by an organised group on a particularly large scale) of the Criminal Code of Ukraine.

The issue of applying a measure of restraint to these persons is being decided.

SBI investigators are initiating a measure of restraint in the form of detention.

The maximum sentence under these articles is up to 15 years in prison with confiscation of property.

Procedural guidance is provided by the Prosecutor General's Office.