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 on Tuesday, May 12.
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.
Investigators did not officially disclose all names, but sources cited by Ukrainian media said the case involves former Deputy Prime Minister Oleksiy Chernyshov and businessman Tymur Mindich.
Andriy Yermak, the former head of Ukraine’s Presidential Office, has also been formally notified of suspicion in the same case. The notice of suspicion is a step preceding formal charges in Ukraine’s legal system.
Earlier on Monday, NABU and SAPO said Yermak was suspected of involvement in laundering criminal proceeds through real estate development near Kyiv.
Yermak resigned from his post on Nov. 28, 2025, after a raid by authorities. He was not charged and denied wrongdoing at the time.
“Dynasty” luxury estate under investigation
According to investigators, the scheme ran between 2021 and 2025 and centered on a luxury cottage complex called “Dynasty” in Kozyn, a wealthy suburb south of Kyiv.
The project included four private residences and a shared spa area built on an 8-hectare (20-acre) 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 to launder illicit funds.
According to the case file, money was moved through two parallel channels. One involved a housing construction cooperative that processed 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. The kickback scheme surfaced at the end of 2025 and led to the resignation of two Ukrainian ministers.
Mindich, a former business associate of President Volodymyr Zelensky, was named as a central figure in the case based on wiretap recordings. Zelensky has denied involvement and issued sanctions against Mindich, who left Ukraine in November 2025.
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.