Fugitive Billionaire Deflects Bank's $500M UK Fraud Suit

By Christopher Crosby (September 24, 2021, 6:49 PM BST) -- A fugitive billionaire does not have to fight claims he defrauded a Ukrainian lender out of more than $500 million in England after a judge said that the businessman, who faces criminal charges abroad, agreed to Ukrainian court jurisdiction.

PJSC Bank Finance and Credit's fraud claims against Kostyantin Zhevago, the majority shareholder in iron pellet producer Ferrexpo, which is listed on the London Stock Exchange, cannot be heard in England, High Court Judge Julian Flaux ruled.

In a decision handed down Tuesday but made publicly available only on Friday, Judge Flaux stayed the U.K. litigation, saying that Ukraine's court system was...

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