by Stefan J. Bos, Worthy News Europe Bureau Chief
KYIV/MONTE CARLO (Worthy News) – Police searched Tuesday for a suspect who allegedly targeted a Ukrainian-born business tycoon and his family with a parcel bomb in the wealthy Mediterranean principality of Monaco, in an attack described by Prince Albert II as “an odious act.”
The explosion, which authorities said occurred shortly before 9 p.m. Monday in the entrance of a luxury residential building near the French border, injured businessman Vadym Yermolaiev, his wife, and their 13-year-old child.
Investigators believe the family was deliberately targeted. Surveillance footage reportedly showed the suspect waiting in the area before fleeing on foot toward the neighboring French town of Beausoleil after the blast.
Monaco prosecutors have opened an attempted murder investigation but said there is currently no indication the attack was an act of terrorism.
PRINCE CONDEMNS ATTACK
Prince Albert II condemned the bombing as “an odious act” and said all of Monaco’s security services had been mobilized to help identify and arrest the suspect.
Monaco’s Minister of State Christophe Mirmand called the bombing unprecedented in the principality’s modern history.
“To my knowledge, this is the first time in history that such an act has taken place in the principality,” he told reporters, urging “extreme vigilance” as investigators pursue the case.
Authorities said the explosive device apparently contained bolts and buckshot, increasing its destructive power. Four other people received treatment for shock and minor injuries caused by shattered glass.
The chief prosecutor, Stéphane Thibault, said the suspect appears to have acted alone and remains at large. The motive was still unclear.
FAMILY RECOVERING
Officials said Yermolaiev’s wife remained in life-threatening condition at a hospital in the French city of Nice.
Yermolaiev was no longer considered to be in life-threatening condition, while the couple’s 13-year-old child also suffered injuries but was expected to recover.
French media published images showing damage to the entrance of the luxury apartment building and surveillance footage of a suspect wearing dark clothing and a hat partially concealing his face.
Authorities said the family had apparently been returning home when the bomb exploded as they entered the building.
CONTROVERSIAL BUSINESSMAN
Originally from the southeastern Ukrainian city of Dnipro, Yermolaiev built his fortune through the Alef Group, a diversified business empire with interests in commercial real estate, manufacturing, agriculture, and other sectors.
He became one of Ukraine’s best-known property developers and regularly appeared among the country’s wealthiest entrepreneurs.
Yermolaiev later renounced his Ukrainian citizenship in favor of Cypriot nationality, saying in a 2024 interview that he sought “international protection” because he had lost confidence in Ukraine’s judicial and tax systems.
In 2023, Ukrainian President Volodymyr Zelenskyy imposed sanctions on Yermolaiev, alleging he maintained business links with Russian entities operating in Russian-occupied Ukrainian territories, including Crimea. Yermolaiev has not been known as a supporter of Russia and said after Moscow’s full-scale invasion in 2022 that his private Gulfstream jet was destroyed in a Russian missile strike on Dnipro Airport.
SHOCK IN MONACO
The bombing stunned Monaco, a principality of about 38,000 residents that is widely regarded as one of the safest places in the world due to its extensive surveillance network and heavy police presence.
Known internationally for its luxury lifestyle, tax-friendly environment, royal family, and the annual Monaco Grand Prix, violent crime in Monaco is exceptionally rare.
Residents described hearing a powerful explosion that sent shockwaves through the neighborhood.
“The noise was horrible,” one nearby resident told French media. “In Monaco, we’re not used to this kind of event. We’re still in shock.”
Police urged anyone with information about the suspect to come forward as investigators continued searching for the bomber.
Copyright 1999-2026 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
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