Ukrainian ex-energy minister faces arrest in corruption probe, $9.8M bail proposed
Photo: Herman Halushchenko (Vitalii Nosach, RBC-Ukraine)
Specialized Anti-Corruption Prosecutor's Office (SAP) has requested pre-trial detention with multi-million bail for former Energy Minister of Ukraine, Herman Halushchenko, as SAP spokesperson Olha Postoliuk told RBC-Ukraine.
Read also: Ex-energy minister Halushchenko detained while trying to leave Ukraine, sources say
"SAP will seek pre-trial detention for Halushchenko with bail set at 425 million hryvnias ($9.8 million - ed.)," Postoliuk said.
The anti-corruption court will choose a preventive measure for the ex-minister today
Today, February 17, the High Anti-Corruption Court will consider the motion to apply a preventive measure to the former minister of energy of Ukraine. The hearing is scheduled for 12:30 pm Kyiv time.
Backstory
On the night of February 15, NABU and SAP detained former energy minister of Ukraine, Herman Halushchenko. He was trying to leave the country by train. Border guards had a request from NABU and SAP regarding him to get information in case of an attempt to cross the border.
Yesterday, February 16, Halushchenko was notified of suspicion in the Midas case. He is accused of participating in a large-scale scheme to legalize funds through offshore structures and an investment fund linked to the suspect’s family.
Details of the scheme
The investigation established that in 2021, an investment fund was founded on the island of Anguilla with a plan to raise approximately $100 million. It included companies registered in the Marshall Islands, whose nominal owners were the suspect’s former wife and children.
Through these structures, investments were reportedly made into the fund, whose accounts were opened in banks in Switzerland. To these accounts, funds were transferred, which, according to the investigation, originated from the activities of a criminal organization.
Law enforcement officials report that during the official’s time in office, the criminal organization received more than $112 million in cash. Part of these funds was allegedly legalized through various financial mechanisms, using cryptocurrency and investments in the mentioned fund.
More than 7.4 million dollars, as well as 1.3 million Swiss francs and 2.4 million euros, were directed to the accounts of the fund linked to the suspect’s family. These sums were either withdrawn in cash or directly transferred to the family in Switzerland.
Corruption in the energy sector
In November last year, NABU established the activities of an organized group which, according to law enforcement, influenced decisions in the energy sector, in particular at Energoatom company.
Former energy minister Herman Halushchenko also appeared in the case. Later, the government member, who had previously been suspended from performing the duties of minister of justice, was dismissed from office by 323 votes.
