Monday 14 October 2019 9:21 am

Ferrexpo 'closely monitoring' situation after Ukraine bids to put boss on wanted list

Directors at mining giant Ferrexpo this morning said they are “closely monitoring” a Ukrainian bid to put their chief executive on the international wanted list.

Prosecutors named Kostyantin Zhevago as a suspect in absentia, after he allegedly failed to turn up for questioning about his former company. 

Over the weekend, Ferrexpo sources declined to say if they knew where he was. Court proceedings have been launched to find Zhevago.

However, this morning Ferrexpo said the board has been told he has not been served with any legal notice.

Zhevago continues to deny all allegations of wrongdoing.

Ferrexpo mines, processes and sells iron ore pellets to the global steel industry.

Investigators are thought to be looking into claims he embezzled funds from a bank he owned until 2015, Finance & Credit JSC.

He is thought to split his time between London and Switzerland, where the company is based.

Zhevago was also an MP in Ukraine for two decades until he lost his seat earlier this year.

Ferrexpo shares fell two per cent this morning.