HomeEverythingEducation
Equities & FundsCrypto & Digital AssetsAI & TechnologyBusiness & CorporateUS Politics & PolicyGeopolitics & Global RiskMacro, Rates & FXCommodities & EnergyEuropean Politics & MarketsAsia-PacificReal Estate & Property
Story archiveAll categories
← All Stories

Ex-Energoatom official named suspect in Ukraine's biggest wartime bribery probe

Created at 10 Jul · 3:41 PM1 source↑ Market-relevant
IN SHORT

Ukraine's National Anti-Corruption Bureau (NABU) named a former Energoatom official as a suspect in a bribery probe, accusing them of laundering over 30 million hryvnias. This case, dubbed the Midas case, involves allegations of a $100 million kickback scheme and has implicated figures close to President Volodymyr Zelenskiy.

✉Newsletter

PiQ Daily

Pick your topics. Get only what matters, on your cadence.

Key Numbers

30 million hryvniasamount suspected of being laundered
$674,000approximate USD equivalent of laundered funds
2023 to 2025period of alleged money laundering
$100 millionalleged kickback scheme value

Who's Involved

Energoatom
Ukraine's state nuclear company
National Anti-Corruption Bureau (NABU)
Ukraine's anti-corruption agency leading the probe
German Galushchenko
Ukraine's energy minister from 2021-2025, detained in February
Timur Mindich
Zelenskiy's former business partner, accused of leading kickback scheme
Andriy Yermak
Zelenskiy's former chief of staff, named as suspect
Volodymyr Zelenskiy
President of Ukraine

↳ Why This Matters

This investigation into a major bribery and money laundering scheme within Ukraine's state nuclear company highlights ongoing challenges in combating high-level corruption, even during wartime. The involvement of figures close to President Zelenskiy could impact Ukraine's efforts to demonstrate its commitment to anti-corruption reforms to Western allies.

Key facts

  • A former official at Ukraine's state nuclear company Energoatom has been named a suspect in a bribery probe.
  • The executive director responsible for physical protection and security at Energoatom is suspected of laundering over 30 million hryvnias ($674,000) from 2023 to 2025.
  • The case, referred to as the Midas case, involves allegations of a $100 million kickback scheme.
  • Ukraine's energy minister German Galushchenko, detained in February, is also a suspect.
  • Timur Mindich, Zelenskiy's former business partner, and Andriy Yermak, Zelenskiy's former chief of staff, have also been named suspects.

A former official at Ukraine's state nuclear company Energoatom has been formally named a suspect in what Kyiv's National Anti-Corruption Bureau (NABU) is calling the biggest wartime corruption case in the energy sector. The NABU stated on Telegram that the executive director responsible for the physical protection and security of Energoatom facilities is suspected of laundering more than 30 million hryvnias ($674,000) between 2023 and 2025.

Energoatom has previously stated its cooperation with the investigation and has suspended several employees at NABU's request. Protecting Ukraine's energy infrastructure has been a critical priority since Russia's full-scale invasion in February 2022, with Moscow repeatedly targeting power facilities.

The case, known as the Midas case, reportedly involves a $100 million kickback scheme and has implicated figures close to President Volodymyr Zelenskiy. Ukraine's energy minister German Galushchenko, who served from 2021 to 2025, was detained in February as part of the investigation and has denied wrongdoing. Timur Mindich, identified as Zelenskiy's former business partner, has been accused of leading the kickback scheme, and Zelenskiy's former chief of staff Andriy Yermak has also been named a suspect. Both Mindich and Yermak have denied any wrongdoing.

Frequently asked questions

The National Anti-Corruption Bureau (NABU) named a former executive director responsible for the physical protection and security of Energoatom facilities as a suspect. The official's name has not been released.

The suspect is accused of laundering more than 30 million hryvnias ($674,000) between 2023 and 2025.

The Midas case is a corruption probe involving allegations of a $100 million kickback scheme at Energoatom. It has led to the detention of Ukraine's energy minister and implicated other figures close to President Zelenskiy.

Yes, Ukraine's energy minister German Galushchenko, Zelenskiy's former business partner Timur Mindich, and Zelenskiy's former chief of staff Andriy Yermak have also been named as suspects or accused of involvement in the scheme.

What Happens Next

01Further details on the investigation into the Midas case are expected.
02Energoatom may suspend additional employees if requested by NABU.
03Legal proceedings against the named suspects are anticipated.

Get the newsletter.

Pick the topics you actually care about. We'll email when there's news worth your time, on the cadence you choose. Cancel any time from your account.

Cadence

How It Developed

A former Energoatom official was named a suspect in a bribery probe.
The official is accused of laundering more than 30 million hryvnias ($674,000) between 2023 and 2025.
The case, known as the Midas case, involves allegations of a $100 million kickback scheme.
Ukraine's energy minister German Galushchenko was detained in February as part of the investigation.
Timur Mindich, Zelenskiy's former business partner, and Andriy Yermak, Zelenskiy's former chief of staff, have also been named suspects.

Sources

T1
Ex-Energoatom official named suspect in Ukraine's biggest wartime bribery probeReuters

Related Stories

Russian man pleads not guilty in US cyber espionage case
9 Jul · 9:33 PM
Brazil police target executive linked to Banco Master's communication efforts
9 Jul · 10:50 PM
Ukraine's Supreme Court Upholds Zelensky's Sanctions Against Poroshenko
10 Jul · 2:56 PM
Ex-presidential security aide arrested over alleged role in martial law
10 Jul · 2:40 PM
Special counsel seeks 13-year prison term for Unification Church leader in bribery case
10 Jul · 4:40 AM