Operation 'Midas': Inside $100 million kickback scheme that rocked Ukraine's energy sector

Key takeaways:

• Yesterday, NABU conducted searches at Timur Mindich’s residence and the former Minister of Energy — current Minister of Justice — Herman Halushchenko, as part of an investigation into corruption in the energy sector.

• Businessman Mindich, referred to as "Karlson" on recordings, has left the country.

• NABU and SAPO uncovered the Bargate scheme — a kickback system tied to Energoatom contracts.

• Around $100 million passed through a so-called "laundromat" in Kyiv, linked to the office of former MP Andrii Derkach.

• President Volodymyr Zelenskyy is demanding convictions for corruption in the energy sector.

• Herman Halushchenko stated that he is cooperating with the investigation.

Searches at Mindich and Halushchenko’s residences: Businessman leaves the country

On the morning of November 10, RBC-Ukraine learned from its own sources that detectives from the National Anti-Corruption Bureau of Ukraine conducted searches in Kyiv at the residence of businessman and co-owner of the Kvartal 95 studio, Timur Mindich, as well as at the residence of Minister of Justice Herman Halushchenko, who previously headed the Ministry of Energy.

According to sources, the searches were part of a single case related to corruption in the energy sector.

However, the outlet’s interlocutors reported that Mindich himself had left the country.

State Border Guard Service spokesperson Andrii Demchenko told RBC-Ukraine that he does not have access to information about Timur Mindich’s departure from Ukraine on November 10 and added that the State Border Guard Service of Ukraine (DPSU) does not have the right to disclose information about border crossings by third parties.

At the same time, it became known today that NABU is examining the circumstances of the businessman’s departure and will take measures to bring him back to the country. This was stated to the Ukrainska Pravda outlet by NABU detective unit head Oleksandr Abakumov.

During a search at the office of one of the organizers of the corruption scheme in the energy sector, NABU and SAPO discovered an interesting artifact (Photo: t.me/nab_ukraine)

Operation 'Midas': NABU recordings, the Bargate scheme

NABU and SAPO officially announced that they uncovered a large-scale corruption scheme in the energy sector called 'Midas.' The operation lasted 15 months and included over 1,000 hours of audio recordings.

According to the investigation, members of a high-level criminal organization systematically received kickbacks from contractors of JSC Energoatom amounting to 10–15% of contract values.

Contractors were forced to pay such kickbacks to avoid payment blocks or the loss of supplier status, a practice that became known as the “Shlagbaum” scheme.

According to NABU and sources:

• Businessman and head of the organization – Timur Mindich (referred to as "Karlson" on recordings);

• Former advisor to the Minister of Energy – Ihor Mironyuk ("Rocket");

• Executive Director for Physical Protection and Security at JSC Energoatom – Dmytro Basov ("Tenor");

• Four back-office employees who are responsible for legalizing funds.

NABU recordings also mention a figure called the "Professor," who, according to sources, is Herman Halushchenko.

NABU established that by leveraging their official connections in the ministry and the state company, the individuals controlled personnel decisions, procurement, and financial flows, effectively managing a strategic enterprise with an annual revenue exceeding UAH 200 billion without official authority.

The recordings reveal conversations about kickbacks, counting cash in tens of thousands of dollars and euros. The money was laundered through an office in Kyiv owned by the family of former MP and current Russian senator Andrii Derkach. The office was located on the upper floors of a building on Hrushevskoho Street in Kyiv.

Through this office (allegedly related to "Shugarman"), strict accounting of received funds was maintained, a black ledger was kept, and money laundering was organized via a network of non-resident companies. This office also determined which individuals would receive or transfer funds and handled the cash transfers.

Over 70 searches were conducted in Kyiv and other regions, resulting in the seizure of a large amount of documents and cash (Photo: t.me/nab_ukraine)

Over 70 searches were conducted in Kyiv and other regions, resulting in the seizure of a large amount of documents and cash (Photo: t.me/nab_ukraine)

Over 70 searches were conducted in Kyiv and other regions, resulting in the seizure of a large amount of documents and cash (Photo: t.me/nab_ukraine)

Over 70 searches were conducted in Kyiv and other regions, resulting in the seizure of a large amount of documents and cash (Photo: t.me/nab_ukraine)

Moreover, the residence served as a location where "Karlson," during personal meetings with heads of central executive bodies, exerted influence over them without any legal authority — specifically to advance private interests in the energy and defense sectors.

A significant portion of operations, including cash distribution, was conducted outside Ukraine. For services provided to non-members of the criminal organization, the office received payment in the form of a percentage of the transferred amounts.

According to the investigation, around $100 million passed through this laundromat.

SAPO to investigate possible data leak

Oleksandr Klymenko, head of the Specialized Anti-Corruption Prosecutor’s Office, has established a commission to conduct an internal investigation into a possible leak of pre-trial investigation data from NABU and SAPO.

This decision was made following a report from one of the prosecutors working on the case involving the large-scale corruption scheme in the energy sector and several related proceedings.

The review is being carried out by SAPO’s Internal Control Department. If the commission confirms a violation, its findings could serve as grounds for disciplinary or procedural action.

Zelenskyy: 'There must be convictions'

Yesterday, Ukrainian President Volodymyr Zelenskyy responded to the NABU and SAP investigation into corruption in the energy sector, stating that "effective actions" are needed.

"The inevitability of punishment is necessary. Energoatom currently provides Ukraine with the largest share of energy generation. Integrity in the company is a priority — energy, every sector. Everyone who built these schemes must receive a clear procedural response. There must be convictions," he said.

Energy Minister Svitlana Hrynchuk, in turn, emphasized that the ministry "will respond to the case" based on the results of the investigation and is coordinating the protection of critical elements of the energy system.

"Energoatom is not directly managed by the Ministry of Energy. At the same time, as the ministry responsible for shaping and implementing policy across the entire energy sector, we will address this case and respond according to the results of the investigation," she said.

Meanwhile, Prime Minister Yulia Svyrydenko stated that the government is awaiting "the results of procedural actions regarding the Energoatom situation and immediate updates."

"Combating corruption is one of the government’s key priorities. Any violations must result in convictions and the inevitability of punishment," she added.

At the same time, Servant of the People MP Yaroslav Zhelezniak has initiated the dismissal of Herman Halushchenko and Svitlana Hrynchuk in connection with the energy case.

Reaction from Energoatom

On the morning of November 11, the Supervisory Board of JSC Energoatom stated that the company "takes the corruption allegations seriously" and announced an emergency meeting for an independent review of operations.

"The company’s staff continue to work in an intensified mode, providing about 60% of the country’s energy generation," Energoatom said.

The company also stated that the case has allegedly not caused any damage to assets, financial standing, or the execution of production plans, nor has it affected the safety of nuclear power plant operations.

Halushchenko ministry’s statement

This afternoon, the Ministry of Justice of Ukraine confirmed that investigative actions were carried out involving Minister of Justice Herman Halushchenko as part of the criminal proceedings.

"The minister is providing full cooperation to law enforcement agencies to ensure a comprehensive, objective, and impartial investigation. The Ministry of Justice consistently adheres to a zero-tolerance policy on corruption. If guilt is established, individuals must be held accountable according to the procedure determined by the court," the ministry stated.

It added that "due to the need to maintain the confidentiality of the pre-trial investigation, the minister refrains from making public comments until the relevant procedural actions are completed."

Magamedrasulov collected key evidence in the case

Oleksandr Abakumov, head of the NABU detective group, told Ukrainska Pravda that detained NABU employee Ruslan Magamedrasulov was directly involved in investigating the Energoatom corruption scheme. According to him, it was thanks to Magamedrasulov’s actions that key evidence in the case was obtained.

Abakumov noted that the operation was lengthy and large-scale, involving almost the entire NABU staff. Last week, detectives also detained another Energoatom official who was operating under the same scheme.

The agency believes that a "kickback" system was in place for most of the company’s procurement activities.

Suspicions against Mindich and other figures

Today, NABU released the third part of its investigation into corruption in the energy sector, which concerns the head of the criminal organization.

According to the Bureau, this figure is referred to by the code name "Karlson." His identity has not been officially disclosed, with sources only noting that he is a businessman. However, RBC-Ukraine reports that the individual is Timur Mindich.

In NABU recordings, the figures discuss cash, the "closing" of schemes, and the transfer of funds. In the new recordings, Mindich is also heard speaking with then-Minister of Energy Herman Halushchenko.

Currently, under Article 208 of the Criminal Procedure Code of Ukraine, detectives have detained five individuals, while seven members of the organization have been officially notified of suspicion, including:

• Businessman and head of the criminal organization (Timur Mindich);

• Former advisor to the Minister of Energy (Ihor Mironyuk);

• Executive Director for Physical Protection and Security at JSC Energoatom (Dmytro Basov);

• Four individuals — back-office employees responsible for legalizing funds.

The authorities are considering submitting motions to the court to impose preventive measures.

As previously reported, Timur Mindich is a Ukrainian businessman and film producer, and one of the co-owners of the Kvartal 95 studio. He is known in media and business circles for his extensive contacts and participation in various business projects.

In the public sphere, his name has repeatedly been linked to oligarch Ihor Kolomoisky and associates within President Volodymyr Zelenskyy’s political circle.

In 2024–2025, journalistic investigations began mentioning Mindich in the context of possible corruption schemes involving the use of state funds in the energy sector.

Herman Halushchenko has many years of experience in government structures. He previously served as Executive Director for Legal Support at JSC Energoatom and, from 2020 to 2021, as the company's Vice President. In April 2021, he was appointed Minister of Energy of Ukraine.

After the formation of the new government in the summer of 2025, Halushchenko left the position of Minister of Energy and moved to the Ministry of Justice.

New figures involved

It became known that a new figure from the Ukrainian political elite may be involved in the corruption scandal in the energy sector. Members of a criminal group allegedly handed him money.

NABU has not named the individual in the statement, but according to informed sources of RBC-Ukraine, it concerns Oleksii Chernyshov, who previously served as Deputy Prime Minister and Minister for National Unity of Ukraine.

Law enforcement officials reported that, in total, they documented the transfer of $1.2 million and nearly €100,000 in cash. The money was reportedly handed over either at an office used for money laundering or at a medical clinic owned by one of the group’s members.

"The last amount—$500,000—was given to the wife of 'Che Guevara' (Chernyshov's codename - ed.) after he became a suspect in corruption offenses under NABU and SAPO,” NABU added.

Sources: data from NABU and SAP, statements from Energoatom, the Ministry of Justice, Ukrainian President Volodymyr Zelenskyy, and representatives of the Ukrainian political sphere, as well as information from RBC-Ukraine’s own sources and material by Ukrainska Pravda.