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OAN Staff Blake Wolf
4:19 PM – Sunday, November 16, 2025
A Ukrainian anti-corruption watchdog organization uncovered a $100 million embezzlement scheme taking place within Ukrainian President Volodymyr Zelensky’s inner circle.
The National Anti-Corruption Bureau (NABU), a Ukrainian watchdog agency, disclosed the findings of its 15-month-long investigation, dubbed “Operation Midas,” which included approximately 1,000 hours of wiretaps.
NABU revealed that Energoatom, a state-run nuclear company, shelled out roughly $100 million to secure government contracts, amounting to a major kickback scheme allegedly led by Timur Mindich, a close business partner of Zelensky.
According to authorities, Mindich laundered the money with the assistance of German Galushchenko, a former Ukrainian Justice Minister and Energy Minister, who allegedly facilitated the operation from within the government.
In the announcement, NABU alleged that approximately $1.2 million was laundered to a former deputy prime minister of Ukraine, identified internally by the codename “Che Guevara.”
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“Using their official connections in the ministry and the state-owned company, [the suspects] ensured control over personnel decisions, procurement processes, and financial flows,” the anti-corruption agencies announced in a statement.
Mindich reportedly fled to Israel prior to a raid at his home, according to The Times of Israel.
Mindich was previously a wealthy Ukrainian entertainment industry entrepreneur, going on to co-own Zelensky’s production company, Kvartal 95, while Zelensky pursued his comedy career before entering politics.
After Zelensky became president in 2019, Mindich’s influence grew, as he became a close associate with Ukrainian oligarch Ihor Kolomoysky, who supported Zelensky’s presidential campaign.
Zelensky went on to cut ties with Kolomoysky, who was later arrested on fraud and money-laundering charges, prompting Mindich to fill in.
According to Tetiana Shevchuk of Ukraine’s Anti-Corruption Action Center, Mindich “would have never been in politics, never been in a position of power or business without his connection to Zelensky, and this magnitude is worse because it’s happening during wartime, and it is related to energy infrastructure at a time when Ukrainians don’t have electricity in their homes.”
In an attempt to contain the backlash, Zelensky announced plans to “overhaul” the state-owned energy companies, calling for a “full audit of their financial activities,” while announcing that the Energoatom nuclear company will have a new supervisory board “within a week.”
Zelensky explained that he has also directed government officials to “maintain constant and meaningful communication with law enforcement and anti-corruption bodies. Any scheme uncovered in these companies must receive a swift and just response.”
“The full transparency and integrity in the energy sector remain an absolute priority.”
Zelensky previously signed a controversial law in July, which would have stripped autonomy away from NABU and the Specialized Anti-Corruption Prosecutor’s Office (SAPO), although the decision was quickly overturned after waves of major protests across Ukraine.
The White House has yet to make a statement in regards to the revelation.
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