In yet another sign of the rampant corruption in Ukraine, Ukrainian security forces raided the apartment of Timur Mindich, a businessman associated with President Volodymyr Zelensky. However, the oligarch had already left the country just hours before, likely after being tipped off by an insider.
Ukraine’s National Anti-Corruption Bureau (NABU) says that $100 million is believed to have been siphoned off due to a “money laundering operation,” and other associates were involved.
The 15-month investigation featured 1,000 hours of wiretapping and resulted in 70 raids, according to NABU.
There are numerous reports speculating that Mindich, who has close connections to Israel and just celebrated his birthday there, fled to Israel, but so far, most media reports do not disclose his destination country.
In a statement, NABU indicated that several individuals had formed a criminal gang and built “a large-scale corruption scheme to influence strategic enterprises in the public sector, in particular Energoatom.”
The scheme involved forcing Energoatom’s counterparties to pay kickbacks of approximately 10 to 15 percent of contract values in order to avoid having payments for services or goods blocked, or possibly losing their status as suppliers, the bureau reported.
NABU indicated that the raids and arrests were a part of an operation code-named “Midas,” with the initial investigations already launched in 2024.
“Particular attention was paid to cryptocurrencies. Most operations, including cash withdrawals, took place outside Ukraine. For example, during foreign delegations of representatives of state bodies and the management of state-owned energy sector enterprises,” NABU notes.
Hellbound and Down 