Radio France International (RFI) reported on 2/7 that the Monaco Public Prosecutor's Office identified a suspect in an explosive attack targeting Ukrainian businessman Vadym Yermolaiev, his partner, and his son. The incident occurred around 9 p.m. on 29/6, when a bag of explosives detonated on the ground floor of an apartment building on Reverend Pere Louis Frolla street. Yermolaiev and the woman were hospitalized in critical condition. An arrest warrant has been issued, and an Interpol red notice is pending, though judicial authorities have withheld details about the suspect.
The motive behind the attempted assassination remains unclear. However, Yermolaiev is sanctioned by Kyiv for his business activities in the Crimea region. Forbes magazine ranked him as the 23rd wealthiest person in Ukraine. His companies operating in Crimea reportedly paid taxes to Russia, leading Kyiv to accuse him of directly funding Moscow's war efforts. Consequently, Yermolaiev left Ukraine, renouncing his citizenship in 2019 to become a Cypriot citizen.
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Ukrainian oligarch Vadym Yermolaiev. *Photo: CNN*
Yermolaiev built his career in Dnipro, a city in southeastern Ukraine. Before the Russia-Ukraine conflict, Dnipro was a hub for oligarchs and entrepreneurs, boasting a thriving Jewish community where Yermolaiev was a prominent member. "Yermolaiev was a prominent oligarch of the 1990s. He was likely among the top 5 oligarchs in the Dnipro region, one of the wealthiest areas", said Ryhor Nizhnikau, a Ukraine expert at the Finnish Institute of International Relations.
In 2006, Yermolaiev inaugurated Most-City in Dnipro, then the country's largest shopping complex, earning him the moniker "king of shopping malls". He also invested in many infrastructure projects, renovating an entire city block downtown. Local media described him as "the person who transformed Dnipro's appearance". His business empire, Alef Group, expanded into 19 industries, according to Ukrainian business magazine UBR. By the mid-2010s, Yermolaiev had accumulated assets exceeding USD 300 million, joining Ukraine's 100 wealthiest people.
The scene after the bombing in Monaco on 29/6. *Video: 7 News Australia*
Despite being a Cypriot citizen, the 58-year-old oligarch often resided in Monaco, a haven for millionaires and celebrities. Known for its safety, respect for privacy, and favorable tax regime, Monaco rarely experiences such incidents. The 29/6 attempted assassination thus shocked the principality. "To my knowledge, this is the first time in history that such an event has occurred in this principality", said Monaco prosecutor Stephane Thibault.
Thanh Tam (According to AFP, CNN, Reuters)
