“A Karmic Tale”: The State Financial Monitoring Service Intervened in the Matter of Yermak’s Bail
16 May 18:04
Ukraine’s political circles are actively discussing yet another high-profile situation involving the raising of funds to post bail in the case of former Presidential Office head Andriy Yermak. In a post on Facebook, MP Yaroslav Zheleznyak called the events “yet another tragicomic story of modern public administration,” writes "Komersant Ukrainian".
According to the lawmaker, the process of raising the necessary funds took place in a rush. He claims that by the end of the day on May 15, funds were being “contributed by anyone and everyone.”
“Yesterday, they were urgently looking for money for Yermak’s bail… Once they realized they wouldn’t make it in time, they went all out. By the end of the day, they were collecting money from anyone they could. Literally from ‘thugs and beggars,’” Zheleznyak notes.
The amount in question is 140 million hryvnias, which, according to him, was quickly raised, but the transfer could not be made to the High Anti-Corruption Court’s account within the specified time frame.
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The deputy drew particular attention to the role of the banking system in this situation. According to him, financial institutions agreed to accept payments “under pressure,” while fearing possible consequences due to violations of financial monitoring procedures and internal compliance. Banks, as Zheleznyak notes, were allegedly assured that “they would not be punished later for these illegal transactions.”
“Since the task of raising money for Yermak is as much a state priority as possible (and was set personally by the president), all the banks assured them not to worry. Everything will be okay. They won’t be punished for the illegal transactions later…,” the lawmaker writes.
The culmination of the story, according to the deputy, was a letter from the State Financial Monitoring Service, which was sent to banks on the evening of Friday, May 15, warning of the need for strict compliance with financial monitoring rules, especially regarding transactions involving collateral.
“Check all sources of funds!” the parliamentarian quoted from the document.
The politician also noted ironically that the leadership of the State Financial Monitoring Service had previously been appointed by Andriy Yermak himself. In his opinion, the situation appears not only contradictory but also “karmic.”
What preventive measure did the court choose?
The High Anti-Corruption Court had previously imposed a preventive measure on the former head of the President’s Office in the form of detention with the possibility of posting bail in the amount of 140 million hryvnias. The prosecution had requested a higher amount—180 million hryvnias—but the court set a lower bail.
After the hearing, Yermak told reporters that he does not have such funds and is hoping for help from acquaintances and friends.
What case is Yermak involved in?
Yermak is suspected in a case involving the alleged laundering of 460 million hryvnias during the construction of the “Dynasty” housing cooperative in Kozin. This is a high-profile anti-corruption case in which other individuals are also implicated.
At the same time, a notice of suspicion and the imposition of a preventive measure do not imply a finding of guilt. The final legal assessment must be made by the court.
What obligations will Yermak have if bail is posted?
If the bail of 140 million hryvnias is paid in full, Yermak will be able to be released from custody, but he will be subject to a number of procedural obligations.
If bail is posted, Yermak is required to appear upon the request of the investigator, detective, prosecutor, or court, and to report any change of residence. He must also not leave Kyiv without permission and must surrender his passports for travel abroad and diplomatic documents.
He must refrain from communicating with suspects in the criminal proceedings, namely Chernyshov, Mindich, Lysenko, Opalchuk, Siranchuk, Medvedeva, as well as witnesses Martynkevich, Yatsyk, Ogorodnik, Kvelenkova, Nikolaenko, Nikolaenko, Novikova, Chernyshova, Abramov, Anikievich, Ratkovska, Naumenko, and Bobrovska. Yermak will also be required to wear an electronic monitoring device.
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