A Ukrainian oligarch who was targeted in a bomb attack in Monaco may have been attacked over his alleged links to a €100 million call centre fraud scheme, according to Ukrainian police.

The improvised explosive device containing nuts and bolts went off in the foyer of an apartment block called the Sun's Palace soon after 9.00pm on Monday.

One victim was named by a local news outlet as Vadim Ermolaev - one of Ukraine's wealthiest men - who is understood to have fled the country amid the war with Russia

Explosion at residence near border with France was ‘very likely an attack’, minister says