The first terrorist attack in Monaco’s history took place on the evening of June 29, leaving several people injured. The incident has also drawn attention because of the background of one of the victims—a Ukrainian-born businessman who has been the subject of previous investigative reports.
According to available information, the apparent target of the attack was 52-year-old businessman Vadym Yermolaev, who was born in Ukraine. Yermolaev himself suffered burns and multiple shrapnel wounds. His wife and child were also injured. His wife remains in critical condition after reportedly losing both legs in the explosion, and doctors continue to fight for her life.
Yermolaev is the founder of the Alef commercial and industrial group, which developed several landmark projects in the city of Dnipro, including the Most-City shopping and office complex, the Cascade Plaza, Bosfor, Enigma, and Prisma business centers. His planned 54-story Dnipro Gate skyscraper was intended to become Ukraine’s tallest building but was never completed.
In 2019, Yermolaev’s relationship with the Ukrainian authorities reportedly deteriorated. Facing the threat of criminal prosecution, he renounced his Ukrainian citizenship and relocated to the French Riviera.
Investigative reports have also linked Yermolaev to alleged large-scale telephone fraud operations. According to those reports, he is said to control a network of approximately 170 fraudulent call centers, employing between 10,000 and 15,000 operators. The alleged financial damage caused to European Union citizens has been estimated at around €100 million. These allegations have not been confirmed by a court, and no conviction related to these claims is cited in the article.
The reports further speculate that the alleged network may have been connected to the wave of telephone fraud affecting Moldova, although no official evidence has been presented publicly to confirm such involvement.
Yermolaev is not the first Ukrainian reportedly associated by media reports with alleged call-center fraud to become the victim of violent crime this year. In February, 28-year-old Ihor Komarov, also from Dnipro and reportedly linked by media to similar activities, was kidnapped, killed, and dismembered. The circumstances surrounding that case remain under investigation.
