Ferrexpo denies allegations CEO is being investigated in Ukraine
Iron ore miner Ferrexpo has denied allegations made on social media last week that its chief executive officer Kostyantin Zhevago is being investigated in relation to a business he owned in Ukraine until 2015.
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"Mr Zhevago strongly denies any allegations of wrongdoing," the company said in a statement.
It added that Zhevago has informed the board that he has not received a notice of suspicion in accordance with Ukrainian law.
"Additionally the public dissemination of such untrue information in the media violates his rights and legitimate interests as a citizen of Ukraine, and causes direct reputational and economic damage to the businesses where Mr Zhevago is a shareholder," it said.
"This undermines the international authority and economy of the country of Ukraine and jeopardises the future implementation of major investment projects in Ukraine."
Reuters reported on Friday that the first deputy chief of Ukraine’s State Bureau of Investigations had said on Facebook that detectives had handed a so-called notice of suspicion to Zhevago’s lawyer after he failed to appear for questioning in Kiev.
According to Reuters, authorities suspect Zhevago of large-scale money laundering and embezzling funds from a bank he formerly owned.