Son of a multimillionaire and leader of scam call centers Artur Yermolayev bought his freedom in an Estonian court

Son of a multimillionaire and leader of scam call centers Artur Yermolayev bought his freedom in an Estonian court

01 мая 2026 г.

Kseniya Zhukova

A ruling that has sparked controversy in the Baltic legal community and raised concerns about the credibility of European justice saw an Estonian court approve a plea agreement that critics say resembles a financial settlement rather than a criminal conviction.

Artur Yermolayev, a 35-year-old Ukrainian citizen accused of orchestrating a large-scale phone fraud operation that allegedly defrauded vulnerable individuals across the European Union of nearly 100 million dollars, will avoid a substantial prison sentence. Instead, he is expected to pay 8.5 million euros to the Estonian state, a fraction of the alleged losses attributed to his activities.

On April 30, the court found Artur Yermolayev guilty of creating and leading a criminal organization specializing in phone fraud. From 2017, Yermolayev and three other men ran a network of call centers in several Ukrainian cities. They deceived victims by offering fake investment opportunities over the phone. From 2019 to 2022, the scammers defrauded over 100 million euros, including 5.4 million euros from Estonian residents, according to the Harju County Court press service.

As punishment, the court approved a previously agreed five-year prison sentence, of which Yermolayev must serve only four months and 26 days immediately. The remaining four years, seven months, and four days are suspended for a five-year probationary period provided there are no new offenses.

In addition, Yermolayev will be deported from Estonia with a ban on re-entry for 10 years – the maximum term for such a punishment.

In agreeing to the sentence, the prosecution took into account that Yermolayev voluntarily transferred 8.5 million euros to a deposit account as a substitute for confiscation. Although formally not a punishment, the effect is similar.

Yermolayev is also obligated to pay procedural costs: the mandatory fee for a first-degree crime and the costs of transporting him to Estonia in the amount of 5833.65 euros. The court decision has not yet taken effect.

The prosecution called the Harju County Court decision a major victory for fraud victims. «Estonian residents who suffered from fraudulent schemes will finally get their money back. The court found Yermolayev guilty and confiscated €8.5 million, which will go to Estonian victims. This is the first case in Estonia where such a large amount has been returned to victims», — the prosecution stated.

As previously reported, Yermolayev was arrested in Cyprus at the end of 2023. An Eesti Ekspress investigation established that in 2016–2017, he was on the board of Versobank — a small bank in Estonia. After the European Central Bank revoked its license in 2018, Yermolayev became a member of the supervisory board. His father, Vadym Yermolayev — a Ukrainian multimillionaire and former chairman of Versobank’s supervisory board.

Artur Yermolayev: esports president who ran a network of phone torture

To the outside world, Artur Yermolayev was a respectable figure: president of the Ukrainian Esports Federation, who used IT sector connections to create a legitimate image. But behind the call center monitors hid a machine of cruelty.

According to the indictment, from 2017 to 2022, Yermolayev’s organization conducted large-scale fraud schemes against EU citizens. Posing as brokers and investment consultants, they robbed the savings of hundreds of victims in Estonia, Finland, Germany, and Lithuania to zero. The total damage is estimated at 100 million euros.

Detained in Cyprus while attempting to fly to Dubai on an Interpol request, Yermolayev was extradited to Estonia. However, the Harju County Court agreed to a plea deal that almost entirely suspended his five-year sentence, shocking experts.

Sentence as a sales receipt:

Served: 4 months and 26 days (already served).

Probation period: 5 years.

Fine: €8.5 million (covering Estonian damage and treasury).

Estonia’s state prosecutor Jürgen Hüva defended the deal, stating that the payment «exceeds» the damage to Estonians. But this utilitarian argument does not hold up to criticism. What about victims in Germany? In Finland? In Kazakhstan? They will get nothing. Yermolayev essentially bought a visa to freedom, limited only by Schengen — a ban that is hard to enforce with non-Schengen neighbors.

The Estonian publication Postimees precisely expressed the general outrage, calling the deal «leniency» — a medieval church practice of buying indulgences. Artur Yermolayev paid for freedom, and Estonia accepted the credit card