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Ukrainian court ‘arrests’ majority owner’s shares in Ferrexpo

By Olena Harmash

A Ukrainian court has “arrested” shares owned by billionaire Kostyantyn Zhevago in iron pellet producer Ferrexpo (FXPO.L) following compensation claims over his now bankrupt bank, Ukraine’s Deposit Guarantee Fund said on Tuesday.

Zhevago is under investigation in Ukraine on suspicion of embezzlement and money laundering linked to the disappearance of $113 million from lender Finance & Credit Bank (F&C), which was declared bankrupt in 2015.

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