Former Ukraine energy minister accused of money laundering

By Ahmet Taş | Wise News Press

KYIV, UKRAINE —  Former Ukrainian Energy Minister Herman Halushchenko has been detained and charged with money laundering and criminal association linked to a massive corruption scheme involving the state-owned nuclear energy operator, Energoatom.

According to a joint statement by the National Anti-Corruption Bureau of Ukraine (NABU) and the Special Anti-Corruption Prosecutor's Office (SAPO), the "Midas" investigation has expanded its circle of suspects to include Halushchenko, who served as minister from 2021 to 2025. Authorities allege that nearly $100 million was laundered through a sophisticated network of shell companies and offshore investment funds.

Detention at the border

NABU confirmed that Halushchenko was apprehended on Sunday while attempting to cross the national border. Ukrainian media reported that the former minister was removed from a train by security forces and transported back to Kyiv for questioning.

The investigation alleges that the criminal organization established an investment fund in Anguilla in February 2021. This fund was reportedly used to funnel kickbacks from Energoatom tenders, with Halushchenko’s family listed among the primary beneficiaries.

The "Midas" scheme and Swiss accounts

According to NABU data, over €8.8 million was transferred to accounts controlled by Halushchenko’s family. Furthermore, investigators claim that 1.3 million Swiss francs and €2.4 million in cash were delivered directly to family members.

SAPO officials stated that a portion of these funds was used to cover the educational expenses of Halushchenko’s children in Switzerland, while another part was deposited into his ex-wife's accounts. The laundering methods reportedly involved complex cryptocurrency transactions and fund reinvestments to obscure the origin of the illicit wealth.

Allegations of unofficial management

The probe identifies businessman Timur Mindich as the alleged leader of the criminal organization. Mindich is known to be a close associate of Ukrainian President Volodymyr Zelenskyy, a connection that has intensified public scrutiny of the case.

NABU alleges that the group collected kickbacks ranging from 10% to 15% of contract values from companies winning Energoatom tenders. Prosecutors argued that a strategic enterprise with an annual revenue exceeding €4 billion was effectively managed by unofficial individuals with no formal authority, undermining national security.

War-time corruption and international cooperation

The timing of the alleged corruption is particularly sensitive. Investigators claim illegal profits were extracted from projects intended for defense fortifications and energy stability at a time when millions of Ukrainians were suffering from power outages due to Russian attacks on infrastructure.

Authorities confirmed that the investigation is ongoing and involves cooperation with law enforcement agencies in 15 different countries. Halushchenko has not yet issued a public statement regarding the charges.

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