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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.
This morning, we already held an online meeting with Prime Minister of Ukraine Yuliia Svyrydenko regarding further decisions to clean up and reboot the management of the energy sector and the institutions related to it.
First – I instructed the Cabinet of Ministers of Ukraine to…
— Volodymyr Zelenskyy / Володимир Зеленський (@ZelenskyyUa) November 16, 2025
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