Son of Ukrainian billionaire Arthur Yermolaev, whose network was accused of stealing €100 million from phone scam victims, is linked to Riga’s elite

The Harju County Court in Estonia has found that an organized group linked to Ukrainian citizen Artur Yermolaev carried out a large-scale telephone fraud operation between 2019 and 2022, defrauding victims of nearly €100 million.

According to the court, 35-year-old Yermolaev received a suspended sentence and paid €8.5 million to the state. After the proceedings concluded, he reportedly left Estonia and flew to Tel Aviv on a private jet.

Media reports also state that Yermolaev is the son of Ukrainian businessman Vadim Yermolaev. It is further claimed that he was a frequent visitor to Riga, where he was acquainted with Vladimir Fogel, an official of the Latvijas Jewish Community Restitution Fund.