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The former chief of staff of Ukraine’s President Volodmyr Zelenskyy was released on €2.7million bail on Monday after spending four days in custody as part of a major anti-corruption investigation.
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The bail was reportedly paid by multiple sources after Andriy Yermak said on 13 May that he could not afford to pay it himself and would “rely on friends for help.”
According to Ukraine’s anti-corruption investigators, Yermak is a suspect in a large money laundering probe tied to the construction of a luxury residence complex outside Kyiv.
If convicted, he could face up to 12 years in jail.
Ukraine’s National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAP) are investigating a scheme where up to €9 million was laundered between 2021-2025 through the construction of a high-end residence complex in the village of Kozyn, a wealthy suburb south of the capital.
According to the prosecutors, the financing was funnelled over several years via the multi-million dollar corruption scheme centered around the state nuclear monopoly Enerhoatom.
Law enforcement watchdogs allege that the group planned to construct four private mansions, each roughly 1,000 square meters in size, along with a shared wellness complex featuring a spa and swimming pool. The estimated cost of each residence runs into millions of dollars.
One of the four houses financed through the corruption scheme was allegedly meant for Yermak.
Yermak and his lawyer denied wrongdoing, calling the charges “unfounded.” Yermak also vowed to appeal the court’s ruling.
Ukraine’s National Anti-Corruption Bureau said last week that Zelenskyy has no connection to the corruption investigation.