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Ukrainian Court Sets Multi-Million Dollar Bail for Former Presidential Aide
(MENAFN) A court in Ukraine has placed former presidential chief of staff Andrey Yermak in pre-trial detention while setting bail at approximately $3.2 million in connection with a money laundering investigation.
The decision was issued Thursday during the third day of court proceedings in Kiev. Yermak told the court he was unable to pay the required amount and said he intends to appeal the ruling. Prosecutors argued that electronic surveillance alone would not be enough to stop him from potentially influencing the ongoing investigation.
The allegations are tied to a wider corruption inquiry led by the National Anti-Corruption Bureau of Ukraine (NABU), which is investigating businessman Timur Mindich, a longtime associate of Ukrainian President Vladimir Zelensky.
According to reports, Mindich left Ukraine last November shortly before investigators accused him of operating a $100 million extortion scheme.
Investigators claim Yermak was involved in directing illegally obtained funds into a luxury real estate development located outside Kiev. Reports also alleged that the project was connected to Mindich, former Unity Minister Aleksey Chernyshov, Yermak, and Zelensky.
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