Funds Begin Arriving for Yermak’s Massive Bail

Payments have begun arriving toward the Hr.140 million ($3.5 million) bail set for former Presidential Office chief Andriy Yermak, RBC-Ukraine reported on Thursday, May 14.

According to the High Anti-Corruption Court (VAKS), Hr.14.5 million ($348,000) has already been transferred to the court’s account.

The court previously ordered Yermak held in custody with the option of posting bail totaling Hr.140 million ($3.5 million). Prosecutors had requested bail of Hr.180 million ($4.5 million).

Yermak has been notified of suspicion in a case involving the alleged laundering of assets obtained through illegal means, according to Ukraine’s anti-corruption authorities.

What is Yermak accused of?

Investigators say law enforcement uncovered an organized group allegedly involved in laundering approximately Hr.460 million ($10.4 million) through financial transactions linked to the construction of luxury residential properties near Kyiv.

According to the investigation, the scheme operated between 2021 and 2025 and centered on a luxury cottage complex called “Dynasty” in Kozyn, south of Kyiv.

Authorities allege the construction project was used to legalize illicit funds through both official banking channels and large-scale cash payments to contractors and suppliers.

Investigators believe roughly $10 million was laundered through the cash scheme, with some funds allegedly linked to corruption cases involving the energy sector and Energoatom.

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How does the case connect to broader corruption probes?

The case is linked to a wider investigation into an alleged $100 million kickback scheme in Ukraine’s energy sector that surfaced in late 2025 and contributed to the resignation of two ministers.

The investigation also previously named businessman Timur Mindich, a former associate of President Volodymyr Zelensky, as a central figure based on wiretap recordings.

Zelensky has denied involvement in the case and later imposed sanctions on Mindich after he left Ukraine in November 2025.

Earlier this week, National Anti-Corruption Bureau of Ukraine (NABU) Director Semen Kryvonos said Zelensky “is not and has never been” part of the so-called “Midas” corruption investigation.