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ARMA is seeking a manager for Zhevago’s assets: what will be transferred

ARMA is seeking a manager for Zhevago’s assets: what will be transferred

Katerina Melnychenko Deputy Editor-in-Chief

20 May 2026, 14:20

ARMA is seeking a manager for Zhevago’s assets: what will be transferred — ARMA: tender for the management of Konstantin Zhevago’s assets

ARMA has announced a tender to select an administrator for assets that belonged to the sanctioned businessman Kostyantyn Zhevago. These assets consist of real estate owned by SKN “Suchasna Komertsiyna Nерухомість” LLC.

This was announced by the National Agency for Asset Tracing and Management.

The National Agency for Asset Tracing and Management has announced a tender to select a manager for assets linked to sanctioned businessman Kostyantyn Zhevago.

The ARMA statement refers to real estate owned by SKN “Modern Commercial Real Estate” LLC.

The agency stated that, as part of the ARMA reform, all procedures are conducted according to clear criteria for evaluating managers, using transparent competitive mechanisms and a system for monitoring asset management results.

According to ARMA, such approaches are intended to minimise corruption risks and ensure competitive selection conditions.

What else is ARMA checking?

In addition, ARMA is taking steps to replace the manager of the “KRISHTAAL” business centre.

This is one of the seized assets of Guta-SklO LLC, which belonged to Russian citizens Viktor Vinogradov and Andriy Ippolitov.

Sanctions have been imposed on them in accordance with a decision by the National Security and Defence Council of Ukraine.

What is known about Zhevago’s assets

Konstantin Zhevago has been wanted since October 2019 on suspicion of embezzling 2.5 billion hryvnias from the “Finance and Credit” bank.

He has been a member of the Verkhovna Rada for six terms, starting in 1998.

Back in October 2020, Zhevago’s seized assets, worth over 300 million hryvnias, were transferred to ARMA.

These included corporate rights, funds and 26 properties. The assets comprised health resorts, hotels, residential and commercial premises in the central districts of Kyiv, Kharkiv, Poltava and Kryvyi Rih.

The total area of these properties was over 22,000 square metres.

Poltava Mining and Corporate Rights

Last year, the assets of a fugitive businessman were transferred to ARMA’s management.

This included, in particular, corporate rights in 16 companies within Zhevago’s sphere of influence.

Among them is a 49.5% stake in the share capital of Poltava Mining.

Also last year, the National Police uncovered a large-scale pharmaceutical scheme involving Zhevago.

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