An investigation is underway in Monaco following a powerful explosion on Monday evening that left three people seriously injured, including a prominent Ukrainian businessman. The incident, which authorities are treating as a deliberate attack, has sent shockwaves through the elite Mediterranean principality. The blast occurred shortly before 9:00 p.m. at the entrance of a residential building located near the French border, between Boulevard d'Italie and Rue du RΓ©vΓ©rend PΓ¨re Louis Frolla. According to Monaco’s Minister of State, Christophe Mirmand, the victims were returning home when a package, described by the government as a parcel bomb, detonated. The three injured individuals, who are reported to be members of the same family, were rushed to hospitals in the nearby French city of Nice. French and Ukrainian media outlets, including BFMTV and Ukrainska Pravda, have identified the man as Vadym Iermolaiev, a wealthy Ukrainian construction tycoon and property developer known for his extensive business operations in the city of Dnipro. According to medical updates, the coupleβ€”a man and a woman in their 50s or 60sβ€”sustained severe, life-threatening injuries. Reports indicate that the woman underwent an emergency amputation after suffering catastrophic damage to her lower limbs. Their 13-year-old son also sustained injuries from the blast wave and shrapnel, though his condition is reported to be less severe and stable. Monaco’s public security services reviewed surveillance footage from the area, which captured an unidentified suspect dropping a backpack in the building’s lobby shortly before the explosion occurred. The individual, who wore a black jacket, light-colored trousers, and a black hat that partially obscured his face, was seen fleeing the scene on foot immediately after the incident. He reportedly crossed the border into the neighboring French town of Beausoleil using a set of stairs. Monaco’s leader, Prince Albert II, condemned the incident as an "odious act" and confirmed that all national security services have been mobilized. While the exact motive behind the attack remains under investigation, the Monaco prosecutor’s office has launched an attempted murder inquiry. Vadym Iermolaiev, once ranked among the wealthiest individuals in Ukraine, has been a figure of significant controversy in recent years. In 2023, Ukrainian President Volodymyr Zelenskyy imposed personal sanctions on him over allegations that he continued to operate businesses in Russian-occupied regions, including Crimea, after 2014. Iermolaiev, who reportedly renounced his Ukrainian citizenship in 2017 and holds a Cypriot passport, has previously denied wrongdoing, citing an unfair judicial and tax environment in Ukraine as the reason for his departure. Law enforcement agencies in both Monaco and France are currently collaborating on an intensive manhunt for the suspect. The area surrounding the blast site remains heavily secured as forensic teams continue to process the scene.