RFI
17 Mar 2023, 17:47 GMT+10
A court in the eastern French city of Chambery announced on Thursday it was in favour of extraditing wealthy businessman and former member of parliament Kostyantyn Zhevago to Ukraine.
"There are no grounds for refusing extradition," Chambery appeals court decided.
The judge added that part of Ukraine was not in a situation of intense conflict and therefore Zhevago could be sent back.
However, Zhevago's lawyers said there was a political nature to the extradition request and the tycoon would be at risk if he were returned to his homeland.
"We do not send people back to a war zone," added defence lawyer, Francois Zimeray.
Zhevago's case comes as Ukraine's President Volodymyr Zelensky seeks to limit the power of oligarchs who have been dominating the economy since the fall of the Soviet Union three decades ago.
Since independence in 1991, a small group of businessmen with close ties to the government have had held sway over Ukraine's political system.
In 2021, parliament passed a law aimed at limiting their influence. Since then, Russia's invasion has inflicted huge damage on Ukraine's industrial sector and contributed to the erosion of their wealth.
Case adjourned
Zhevago, who controls London-listed iron pellet producer Ferrexpo, was arrested on 28 December in the upmarket ski resort of Courchevel, in the French Alps.
Ukrainian authorities wish to interview him in connection with the disappearance of $113 million from the now bankrupt lender Finance & Credit Bank.
Zhevago told Reuters news agency that Finance & Credit was one of dozens of banks to lose large sums of money after Russia's annexation of Crimea in 2014.
Last week, a Ukrainian court ordered the seizure of shares owned by Zhevago in Ferrexpo following compensation claims worth nearly 46 billion hryvnias ($1.25 billion) over his bank which was declared bankrupt in 2015.
Zelensky thanks France as Paris promises more military aid for Ukraine France to target Russian oligarchs luxury items over Ukraine invasion
Prior to the trial opening, Zhevago pointed to his record of investing in his homeland as proof of his innocence, saying that he had poured $500 million into Ukraine over the past five years.
"If I had actually embezzled $100 million as I am falsely accused of doing in Ukraine, I would have parked the money abroad," he told Reuters.
"I believe in French justice and I hope that you will hear the arguments of my lawyers", he declared at the end of the hearing on Thursday.
The case has been adjourned to 30 March.
(With Reuters, AFP)
Get a daily dose of Paris Guardian news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Paris Guardian.
More InformationSACRAMENTO, California: The state of California and generic drug manufacturer Civica have announced a 10-year partnership to produce affordable, state-branded ...
CHEYENNE, Wyoming: A Wyoming bill outlawing the use or prescription of medication abortion pills, which was passed by the state's ...
DENVER, Colorado: The Southern Nevada Water Authority has voted to accept a $2.4 million grant from the US Bureau of ...
WASHINGTON D.C.: The US government has reported that the exceptionally wet winter in California this year will offer relief from ...
FRANKFURT, GERMANY: Authorities said that as part of a crackdown on gangs suspected of blowing up ATM machines and stealing ...
BERLIN, Germany: Germany will send a cabinet minister to visit Taiwan next week, at a time when Berlin is reviewing ...
DETROIT, Michigan: Due to leaking brake hoses and windshield wiper arms that can break off, Ford is recalling more than ...
NEW YORK, New York - Wall Street continued its advance on Tuesday as investors continued to weigh up the health ...
WASHINGTON D.C.: The US State Department has issued a travel warning regarding dangerous fake pills sold at pharmacies in Mexico, ...
FRANKFURT, Germany: The German Automobilwoche magazine has reported that as part of its efforts to switch to selling electric vehicles ...
NEW YORK, New York - U.S. stocks rallied on Monday following the weekend buy-in of Credit Suisse by UBS, which ...
WASHINGTON D.C.: The US Federal Reserve Bank has announced that cash-strapped banks throughout the US borrowed some $300 billion during ...