against its former energy minister – who was arrested yesterday while trying to cross the border – for his role in the massive corruption in the energy sector and beyond, announced that they have charged its National Anti-Corruption Bureau (NABU) and the Special Anti-Corruption Prosecution Service (SAPO).
Anti-corruption authorities have not officially named the suspect, but the investigation shows that he is former Energy Minister Herman Halushenko, who, according to the authorities, is involved in the “Midas” operation, which involves the embezzlement of funds from Energoatom.
Specifically, according to the official announcement, he was charged under Paragraph 2 of Article 255 and Paragraph 3 of Article 209 of the Criminal Code of Ukraine.
Halushenko’s role in the corruption scandal
According to the investigation, in February 2021, on the island of Anguilla (self-governing overseas territory of the United Kingdom), at the initiative of the members of the criminal organization uncovered by NABU and SAPO in November 2025, an investment fund was established with the aim of attracting approximately 100 million dollars in “investments”.
The fund was headed by an “old acquaintance of members of the criminal organization”, a citizen of Seychelles and St. Kitts and Nevis, who provided money laundering services. The so-called “investors” of the fund included members of the suspect’s family.
To conceal his involvement, two companies were created in the Marshall Islands, which were incorporated into the structure of a trust registered in St. Kitts and Nevis. Beneficiaries of the companies were the ex-wife and four children of the official.
Subsequently, these companies became “investors” of the fund, acquiring shares in it. Then, members of the organization, acting in favor of the former minister, began transferring money to the fund’s accounts, which had been opened in three Swiss banks.
During Halushenko’s tenure, according to investigators, the criminal organization received through his confidante — who appears in NABU recordings under the code name “Rocket” — more than $112 million in cash from illegal activities in the energy sector. This money was “legitimated” through various financial mechanisms, including the use of cryptocurrencies and through “investments” in the specific fund.
The investigation found that more than $7.4 million, more than 1.3 million Swiss francs and 2.4 million euros ended up in the accounts of the fund, managed by the former minister’s family, which were either paid in cash or transferred directly to Switzerland.
Some of this money was used to pay for the children’s studies at expensive educational institutions in Switzerland, while other sums were deposited into the accounts of his ex-wife. The rest was placed in time deposits, from which the official’s family derived additional income for personal expenses.
How did the investigations and the revelation of the Russian connection proceed?
On November 10, 2025, NABU announced the launch of the large-scale Operation Midas to uncover corruption in the energy sector. Over 70 surveys were conducted. According to the investigation, the organizers of the ring received up to 15% of the value of Energoatom’s contracts as “kickbacks”, which were paid by the cooperating companies who had forced them to accept the contracts.
NABU reports that the money was “laundered” in so-called “undeclared offices” in central Kyiv. The premises belonged to the family of former MP and current senator of the Russian Federation Andrii Derkach. In total, according to the authorities, the suspects managed to launder about 100 million dollars.
On November 10, NABU released recordings of conversations of those involved under code names, and their true identities were later revealed. The main defendants are businessmen Timur Midic, co-owner of “Kvartal 95” (code name “Karlson”), and Oleksandr Zukerman (code name “Sugarman”). The two men left the country shortly before the investigations. Subsequently, sanctions were imposed on them and they are wanted.
The head of NABU’s investigative team, Oleksandr Abakumov, said four ministers from different government periods were arrested in the energy corruption case. One of them is the former Minister of Energy and Justice Herman Halushenko, whose house was searched.
On November 12, Prime Minister Yulia Sviridenko submitted to the Verkhovna Rada a motion to impeach him, as well as Deputy Energy Minister Svitlana Grindchuk. On November 19, parliament approved their dismissals.
Former Minister of Economy (2019–2020) and President of the Kyiv School of Economics, Timofii Milovanov, announced his resignation from the Supervisory Board of Energoatom. Later, the Prime Minister stated that the government is restarting the operation of the company, with the first decision being the dissolution of the Supervisory Board. The new composition is expected to be elected by the end of the year.
The Supreme Court also imposed interim measures on other suspects in the case
The private entrepreneur Lesia Ustimenko was remanded in custody for 60 days with the possibility of bail of 25 million hryvnias. On November 13, the guarantee was paid by the company Vangar LLC.
Igor Mironiuk, whom NABU describes as a former adviser to Halushenko (which his lawyer denies), was held until January 8, 2025, on bail of 126 million hryvnias. On recordings he appears as ‘Rocket’. His appeal was dismissed.
Energoatom security director Igor Fursenko was also held until January 8 on bail of 95 million hryvnias. In the recordings he goes by the nickname “Ryoshik”.
Energoatom’s director of physical protection Dmytro Basov was remanded in custody for 60 days on bail of 40 million hryvnias, which he paid and was released.
Businesswoman Lyudmila Zorina was held for 60 days on bail of 12 million hryvnias, which was posted.
Former Minister of National Unity Oleksii Chernysov, who appears in the case under the code name “Che Guevara”, was remanded in custody until January 16, 2026, on bail of 51 million hryvnias, which was also posted. In addition, he is also involved in a separate case of corruption in the construction sector.
On 1 December, Timur Midic was remanded in absentia. The authorities consider him to be the head of the group that collected and laundered money from the energy scandals. Now, his case may be forwarded to Interpol for his arrest.
