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Automatically translated version. May contain inaccuracies compared to the original.
How Zhevago’s Empire Is Falling Apart: Billions in Debt, a Bribe to a Judge, and a Struggle for Factories
$113 million through offshore companies, $2,7 million of an alleged bribe to the head of the Supreme Court, a claim for 46 billion UAH and bankruptcies of major plants. While Konstantin Zhevago is in France, creditors are buying up the debts of his bank “Finance and Credit” and seeking control of the Poltava Iron Ore Mining and Processing Plant (Poltava GOK) and the pharmaceutical group Arterium. Participants include Leonid Kryuchkov, Vasyl Kotinkevich and Inna Prilepko, write Komentari.
Zhevago owned 97,66% of the bank “Finance and Credit,” which went bankrupt in 2015. According to the State Bureau of Investigations (SBI), the bank guaranteed loans to related offshore companies, after which foreign creditors wrote off $113 million. Money was also siphoned off through affiliated companies and fictitious contracts. In case No. 62024000000000394 they are investigating damage of 519,2 million UAH, including transactions for €17 million. In March of 2026 Zhevago was served a notice of suspicion in France; in April permission was granted for in‑absentia investigation.
For a ruling concerning shares of Poltava GOK, Zhevago, according to NABU, offered $2,7 million to the head of the Supreme Court, Vsevolod Knyazev, through Oleg Goretsky and Anatoliy Rekun. On 19 April of 2023 the court supported Ferrexpo; on 15 May Knyazev was detained with a tranche of $450 thousand. In June of 2026 he received five years with confiscation. Zhevago’s prosecution is being handled by the High Anti‑Corruption Court — proceeding No. 52023000000000460, case No. 991/8191/26.
The Deposit Guarantee Fund is claiming 46 billion UAH in case No. 910/268/23. 50,3% of the corporate rights in Poltava GOK (EDRPOU 00191282), and of the Yerystivskyi and Belanovskyi GOKs (36601298), have been seized. The state separately claims 157 billion UAH for alleged illegal mineral extraction. Poltava GOK’s revenue for 2021–2025 years fell from 44,2 billion to 20,8 billion UAH.
Bankruptcy proceedings for Poltava GOK began on 24 February 2026 — case No. 917/101/24. “Maxi Capital Group” (39319365) is claiming 4,7 billion UAH under bank guarantees. The administrator is Dmytro Kucheryavy. Co‑owners of the creditor are Leonid Kryuchkov (25%), Vasyl Kotinkevich, Serhiy Hrachov and Serhiy Hlukhensky. Leonid’s brother Dmytro Kryuchkov is involved in the “Zaporizhzhiaoblenergo” case. The GOK is contesting the bankruptcy.
The same Kryuchkov is linked to the fight over Arterium (33406813). “Sky‑Development” (43715128) with capital of 1000 UAH bought bank claims with a nominal value of 2,436 billion UAH for 243,67 million, in total 10% of the starting price — auction GL18N027381. Financing was provided by Cypriot ORUM (CYPRUS) LIMITED: $3,5 million, €990 thousand and 67,87 million UAH in repayable assistance.
After that, Sky initiated bankruptcy proceedings against Kyivmedpreparat (00480862) with claims of 110,11 million UAH — case No. 910/5245/25. In case No. 914/1317/25 the court approved restructuring for Halychpharm (05800293): 1,39 billion UAH of debt is being converted into 154,44 million shares — 91,25% of the plant. Arterium LTD and Pharmed are participating in the disputes; separate claims of 338,56 million UAH have been filed.
Now they are bankrupting Sky itself. Its participants are ORUM (33,4%), Kotinkevich (33,3%), STAR (44206100) (16,7%) and Zavod‑Invest (43865715) (16,6%), the beneficiaries being Kryuchkov and Kotinkevich. In proceeding No. 12026000000001226 they are investigating an alleged takeover of corporate control. On 26 August ORUM demanded 220,67 million UAH and initiated bankruptcy No. 910/9675/26, the administrator is Oleksandr Demchan.
The real estate of Kyivmedpreparat has attracted companies of Inna Prilepko — “Modern Metallurgical” (44029689) and “Perfom Standard” (43493174). The first offered 280,114 million UAH for the property on Saksahanskoho, 139; the second took part in the bids. In case No. 910/5245/25 (910/6708/26) the court of first instance recovered 311,94 million UAH from Slovenian Marifarm, canceling the license agreement for the drug “Gavana.”
ARMA transferred seized Zhevago real estate to Optima Resource with 81% of profits to be transferred to the state. AvtoKrAZ went under state control; a conflict over Neominerals around Vorskla continues. NSDC sanctions No. 81/2025 are in force. Ferrexpo approved a share issue for $100 million: $50 million is being invested by Andriy Verevskyi, about $40 million by Zhevago’s structure Fevamotinico, which previously owned 49,27%. Verevskyi expects to obtain 21,4% of the shares.
France refused Ukraine’s request to extradite Zhevago.
Incredible, but true....
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