Six More Suspects Named in $10M Yermak-Linked Luxury Property Laundering Case

Ukraine’s anti-corruption agencies have named six more suspects in an expanding probe into alleged money laundering through elite Kyiv-area real estate. Former top officials, including Andriy Yermak, are under suspicion. Investigators say about $10M was laundered via luxury construction schemes tied to wider corruption cases in the energy sector. Make us preferred on Google Flip Share Facebook X (Twitter) LinkedIn Bluesky Email Copy Copied Screenshot from a video (NABU / YouTube) Content Share Facebook X (Twitter) LinkedIn Bluesky Email Copy Copied Flip Make us preferred on Google Ukraine’s anti‑corruption bodies have expanded a major investigation into alleged money laundering linked to luxury real estate near Kyiv, naming six additional suspects in the case. The National Anti-Corruption Bureau of Ukraine ( NABU ) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO) said the group is accused of laundering hundreds of millions of hryvnias through elite construction projects outside the capital. Follow our coverage of the war on the @Kyivpost_official . Investigators did not officially disclose all names, but sources cited by Ukrainian media say the case involves former Deputy Prime Minister Oleksii Chernyshov and businessman Timur Mindich. Former Head of the Office of the President Andriy Yermak has also been formally notified of suspicion in the same case. Earlier on Monday, NABU and SAPO said Yermak was suspected of involvement in laundering criminal proceeds through real estate development near Kyiv. According to investigators , the scheme ran between 2021 and 2025 and centered on a luxury cottage complex called “Dynasty” in Kozyn, a wealthy suburb of Kyiv. The project included four private residences and a shared spa area built on an eight-hectare site. To hide ownership, participants allegedly used coded labels such as R1, R2, R3, and R4. While presented as a legitimate luxury development, authorities say the construction itself was used as a vehicle to launder illicit funds. Other Topics of Interest Ukraine’s Missile Maker Fire Point Named in New ‘Mindich Tapes’ Scandal – What Happened? The mention of one of Ukraine’s rising stars in defense tech, in purportedly leaked calls implicating a former defense minister, has raised fresh questions about the company. According to the case file, money was moved through two parallel channels. One involved a housing construction cooperative used to process funds through official bank accounts, creating the appearance of lawful investment in real estate. The second involved large cash injections into construction spending through intermediaries, including payments to workers and suppliers. In total, around $10 million is believed to have been laundered through this cash route, with funds allegedly linked in part to corruption schemes in the energy sector, including Energoatom-related cases. The  case  is linked to a broader investigation into an alleged  $100 million kickback scheme  in Ukraine’s  energy  sector, according to investigators. Authorities have said the scheme operated during a period of intensified  Russian  strikes on  Ukraine’s  power infrastructure, which caused widespread blackouts and disrupted winter heating supplies. The probe is being described as one of the more high‑profile corruption cases in Ukraine in recent months, particularly due to its scale and connection to strategically important sectors such as energy and real estate. Kyiv Post is Ukraine’s first and oldest English news organization since 1995. Its international market reach of 97% outside of Ukraine makes it truly Ukraine’s Global – and most reliable – Voice.