Artem Kolyubayev and Andriy Yermak: how friendship turns into billions from wartime government contracts

21:06, 28.01.2025

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Artem Kolyubayev and Andriy Yermak: how friendship turns into billions from wartime government contracts

Artem Kolyubayev, who is both a film producer and a business partner of Andriy Yermak, head of the President’s Office, became a co-owner of Culver—one of Ukraine’s main drone providers—amid the full-scale Russian invasion.

Journalist Yuriy Nikolov announced this on Facebook here.

"This is in response to rumors that Yermak is not aware and not involved in Umyerov’s partisan stunt aimed at capturing manual control of cash flows in arms procurement of 300 billion. Managing to find a private notary in Kyiv working on a Saturday after 18:00 is indeed not an easy task. And how much easier it is when this notary is from Yermak’s circle. I’ve done some more googling about this Yermak venture. Now it is involved in raising money for the military. And its face and leader has become Artem Kolyubaev. He is the business partner of Andriy Yermak in LLC ’Ama-vision’," the journalist writes.

Nikolov notes that "to the general public, Kolyubayev is rather known for his intention to shoot a series about evaders with a character resembling Oleksandr Povoroznyuk (a deceitful pro-government businessman ’Vova, smash them’)".

"But in narrower circles, Kolyubayev is known for other stories. During the invasion, Kolyubayev became a co-owner of Culver, one of the major suppliers of drones for the Armed Forces of Ukraine. These are genuinely billion-dollar contracts.

Or money laundering. We have the National Securities and Stock Market Commission. It is headed by Ruslan Mahomedov, Yermak’s freelance advisor. This commission granted Kolyubayev’s ’Assets Financial Group’ permission to transfer currency out of Ukraine. Meanwhile, another Kolyubaev company, ’Elar Asset Management’, paid for a New Year’s trip to peaceful Finland for the head of the NSSMC office, Mykhailo Yanchuk. And how about Kolyubayev’s entry into Stolar’s construction business, the pillar of OPFL, which reliably supplies votes to the ’Servants of the People’ during crisis votes in the Verkhovna Rada? I can imagine how our international partners will be shocked by this circus," the journalist writes.