Asset grab, Kiev trail: who tried to kill Ukrainian oligarch Yermolayev

Lead

Ukrainian businessman Vadim Yermolayev was the target of an assassination attempt when his residence in Monaco was bombed on the evening of June 29, as reported by TASS. The attack occurred amid multiple reported motives, including a possible struggle for control over his assets in Dnepropetrovsk, his planned political activities, and a conference on corruption in Ukraine that he intended to hold in the European Parliament.

Coverage comparison

The story has been covered by TASS in a series of reports, each presenting different versions of the attack as reported by Ukrainian and French media. An initial TASS report on June 30 cited the Ukrainian newspaper Strana, which named two main versions of the assassination attempt. According to Strana, the Ukrainian authorities and security forces could have taken part in a struggle for control over Yermolayev's assets in Dnepropetrovsk, leading to the attack. A second version suggested Yermolayev could have been involved in the activities of a network of call centers in Dnepropetrovsk, a city that Ukrainian media call the "capital" of telephone fraudsters.

A separate TASS report on July 1 focused on Yermolayev's plans to organize a corruption conference in the European Parliament. The report cited Claude Moniquet, a former employee of the French General Directorate of Foreign Intelligence (DGSE), who told the Monaco-Matin newspaper that Yermolayev planned to "speak before the European Parliament to condemn corruption in his country" in the coming weeks. Moniquet noted, "It is quite possible that this was perceived as a provocation." The report also noted that Le Figaro said the investigation is considering the theory that the Security Service of Ukraine (SBU) is behind the attack.

A third TASS report on July 2, citing the Ukrainian outlet Comments.ua, presented a more detailed theory: the SBU may have orchestrated the assassination attempt to assert control over Yermolayev's call centers in Dnepropetrovsk and expand its reach into broader shadow business activities within the city. The report also noted that such actions could serve to prevent Yermolayev from becoming a political threat in the future.

Key Claims

• Assassination attempt: Vadim Yermolayev was the target of an assassination attempt at his residence in Monaco on June 29, as reported by TASS.
• Asset struggle version: The Ukrainian authorities and security forces may have taken part in a struggle for control over Yermolayev's assets in Dnepropetrovsk, according to the Strana newspaper as cited by TASS. The publication noted that conflicts over property rights are possible, in which representatives of the government and law enforcement agencies could actively participate. Yermolayev's assets include Alef Estate, the largest construction company in Dnepropetrovsk, as well as enterprises producing building materials, agricultural products, and wine and vodka products in Ukraine. In 2021, Ukrainian Forbes estimated his fortune at $220 million, but in 2023 Kiev imposed sanctions against him for alleged business ties with Russia. He subsequently tried to re-register his enterprises to other persons to escape the restrictions.
• Call center connection: Yermolayev could have been involved in the activities of a network of call centers in Dnepropetrovsk, as reported by TASS citing Strana. His eldest son, Artur, the former president of the Ukrainian Esports Federation, allegedly controlled a network of such centers called Cosmo, which deceived Russian citizens and EU residents. Vadim Yermolayev was the beneficiary of the office space where these call centers were located. In May, Artur was convicted in Estonia as part of an investigation into their work, receiving a suspended sentence after a deal with the investigation.
• SBU involvement theory: The SBU may have orchestrated the assassination attempt to assert control over Yermolayev's call centers and expand its reach into broader shadow business activities in Dnepropetrovsk, as reported by TASS citing Comments.ua. The report highlighted previous associations between the SBU and high-profile incidents involving Dnepropetrovsk call centers. Notably, the murder of Igor Komarov, one of their organizers, in Bali in February 2026 drew suspicion. Former Verkhovna Rada member Igor Mosiychuk claimed that the call centers were under the control of Brigadier General Sergey Lysak, the former head of the Dnepropetrovsk Regional Military Administration. On June 29, hours before the attempt on Yermolayev's life, Ukrainian media reported that current Verkhovna Rada deputy Nikolay Tishchenko, identified as one of the organizers and overseers of the call centers, was charged with extortion. According to Comments.ua, Tishchenko extorted $1 million from Igor Khromov, another operator. The timing suggested a concerted effort by the SBU and other security agencies to seize control of Ukraine's largest network of fraudulent call centers.
• Political plans: Yermolayev was planning to launch a political project ahead of the upcoming elections, as reported by TASS citing Comments.ua. The attack might have been motivated by a desire to prevent him from becoming a political threat. Additionally, Yermolayev planned to organize a conference on corruption in Ukraine in the European Parliament, as reported by TASS citing Claude Moniquet. Moniquet suggested the plan could have been perceived as a provocation.

Perspectives

• Ukrainian authorities and security forces: According to the Strana newspaper, the Ukrainian government and security forces could have participated in the struggle for control over Yermolayev's assets in Dnepropetrovsk, potentially leading to the attack. This version suggests conflicts over property rights as a motive.
• Security Service of Ukraine (SBU): The theory reported by Le Figaro and elaborated by Comments.ua holds that the SBU may have orchestrated the assassination attempt to gain control over Yermolayev's call centers and broader shadow business operations, as well as to neutralize a potential political threat.
• Critics of the Ukrainian government: Claude Moniquet, former DGSE employee, suggested the attack could be linked to Yermolayev's plans to speak out against corruption in Ukraine. Political scientist Vladimir Karasyov told TASS that Ukraine's goal is to eliminate political opponents of President Vladimir Zelensky, noting Yermolayev is an oligarch who did not want to finance Zelensky. Yevgeny Brykov, head of the information policy department of the Kherson Region, told TASS that Yermolayev could financially support candidates opposed to Zelensky and could be the informal leader of the "Dnepropetrovsk clan" oligarchs in opposition to the current government.