CHAMBERY, France, Jan 5 (Reuters) – A French courtroom selected Thursday to launch Ukrainian billionaire Kostyantyn Zhevago on bail forward of an extradition listening to on Jan. 19 on whether or not he must be despatched to Ukraine to face embezzlement fees, Zhevago’s lawyer advised Reuters.
Zhevago, a 48-year-old billionaire who controls London-listed iron pellet producer Ferrexpo (FXPO.L), was arrested in France in late December at Ukraine’s request and had been detained since.
Ukraine’s state bureau of investigation DBR has mentioned the billionaire was needed on suspicion of embezzlement and money-laundering linked to the disappearance of $113 million from the now bankrupt lender Finance & Credit score Financial institution.
The businessman, one among Ukraine’s richest males, advised the courtroom he did nothing flawed and shouldn’t be extradited.
“That is the primary time I have been in jail. I did not do this stuff I am accused of on this case, I do not deserve this,” he mentioned, talking by way of an interpreter.
“I ask to your permission to go away jail till the following listening to, and I’ll do all the things you requested,” he had mentioned.
The courtroom in Chambery, in japanese France, agreed to launch him in opposition to a 1 million euro ($1.05 million) bail, lawyer Francois Zimeray mentioned.
The courtroom didn’t instantly reply to a request for affirmation.
The courtroom had initially been attributable to maintain the extradition listening to on Thursday, however Zhevago’s legal professionals and the general public prosecutor mentioned they wanted extra time to arrange, which the judges accepted, setting the brand new date to Jan. 19.
Ukraine issued an arrest warrant for Zhevago in 2019, with a global warrant following in 2021.
Zhevago served within the Ukrainian parliament from 1998 to 2019.
His arrest in France got here amid Ukraine’s broader efforts to wash up its oligarch-dominated economic system. Since Ukraine’s independence in 1991, a small group of elites have dominated its political system and economic system. Ukrainian President Volodymyr Zelenskiy has pledged to cut back the position of oligarchs within the economic system.
Month-to-month publication Forbes Ukraine estimated Zhevago’s wealth at $2.4 billion in 2021. The publication estimated Zhevago’s wealth at $1.4 billion on the finish of 2022.
“He should be capable of proceed to handle his enterprise, his companies, and in jail it is very troublesome,” one among Zhevago’s legal professionals, Etienne Arnaud, advised the courtroom, arguing for him to be let loose.
($1 = 0.9500 euros)
Extra reporting by Olena Harmash in Kyiv; Writing by Ingrid Melander; Enhancing by Alex Richardson, William Maclean and Josie Kao
: .