“Three to One”: How the Yermak Collateral Cash Exchange Scheme Works

The search for official funds for the release of former head of the Office of the President Andriy Yermak on bail is accompanied by offers to exchange cash for non-cash hryvnias at an inflated rate. The main obstacle for the defendant was the toxicity of his surname, which forces businesses to stay away from financial assistance.

This information was released by political strategist Oleksiy Golobutsky, referring to conversations in business circles.

“There are people who offer three to one. That is, they give cash, and you have to transfer “white” money. And apparently, people in our country still have no problem collecting such an amount. But the very fact that you will be exposed is probably a serious warning before taking this step,” the studio guest explains.

In his opinion, potential donors are afraid of coming under the close attention of journalists and law enforcement officers. In addition to the reputational blow, business representatives feel a real fear of installing wiretapping devices in case of helping a former employee. This demonstrates a change in attitude towards former favorites of the authorities, who lose support as soon as the threat of criminal liability arises, – summed up political strategist Oleksiy Golobutsky.

As a reminder, NABU and SAPO have exposed an organized group suspected of legalizing 460 million hryvnias in an elite construction project near Kyiv. The suspicion was reported to one of the participants in the scheme, the former head of the Office of the President of Ukraine. The name of the person involved is not officially disclosed. However, according to media reports, it is Andriy Yermak .

Later it became known that on May 12, the Supreme Anti-Corruption Courtdid not choose a preventive measure for the former head of the Presidential Office Andriy Yermak. Lawyer Igor Fomin asked to postpone the hearing, since the defense did not have time to familiarize themselves with the case materials. On May 14, the court nevertheless chose a preventive measure for Yermak – detention with the possibility of posting bail in the amount of UAH 140 million .

Meanwhile, former head of Bankova Andriy Yermak, who is suspected of involvement in the legalization of 460 million hryvnias during the construction of an elite cottage town, remains in pretrial detention . Several people have already paid part of the bail for the former head of the OP, but this amount is not yet enough for Yermak to be released.

Also follow “Pryamim” on Facebook , X , Telegram , and Instagram.