Massive Corruption Raid in Ukraine’s Energy Sector - Zelensky’s Ex-Business Partner Implicated

President Volodymyr Zelensky has voiced strong support for the large-scale anti-corruption operation currently being carried out by Ukraine’s National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO) in the country’s energy sector. In his evening address on November 10, Zelensky said that decisive action and accountability were essential, stressing that corruption in strategic state enterprises such as Energoatom must not go unpunished.

“Any effective action against corruption is much needed. The inevitability of punishment is essential,” he said. “Energoatom now provides Ukraine with the largest share of electricity generation, so integrity within the company is a top priority. Everyone who has built corrupt schemes must receive a clear procedural response. There must be convictions.” Zelensky added that officials should fully cooperate with NABU and law enforcement to achieve real results.

The president’s remarks followed a series of high-profile raids conducted earlier that day as part of Operation Midas, a long-running investigation into widespread corruption in the energy industry. Law enforcement sources confirmed that searches took place in Kyiv at premises linked to businessman Tymur Mindich, a co-owner of Kvartal 95, the television production company founded by Zelensky before his presidency. According to reports, Mindich left Ukraine only hours before the searches began. NABU said the operation had uncovered a large-scale criminal network exerting control over state-owned enterprises, including Energoatom, the country’s nuclear energy company.

The investigation revealed a corruption scheme that allegedly diverted millions from public contracts. NABU said those involved, acting through intermediaries, were collecting bribes worth 10 to 15 percent of each contract’s value. It added that the management of a key national enterprise with an annual turnover exceeding 200 billion hryvnias (around 4.7 billion dollars) was effectively controlled by outsiders with no formal authority. The agency also released portions of recorded conversations featuring individuals identified as “Roket,” “Tenor,” “Karlson,” and “Professor,” who were allegedly coordinating the schemes.

According to the Kyiv Independent, “Karlson” refers to Mindich, identified as the ringleader of the group, while “Professor” is believed to be former Energy Minister Herman Halushchenko, who served between 2021 and 2025 and whose home was also searched. NABU claims that Myroniuk and Basov, two other suspects linked to the operation, managed Energoatom’s purchases and laundered nearly 100 million dollars through entities tied to the family of fugitive ex-lawmaker Andrii Derkach, now serving as a Russian senator.

Energoatom confirmed that investigative actions were taking place at its headquarters on November 10, stressing in a statement that it is fully cooperating with NABU and SAPO, providing all requested documentation and facilitating a transparent inquiry. The company said it was not obstructing the process and welcomed a comprehensive review of the allegations.

Ukraine’s Prime Minister Yuliia Svyrydenko also commented on the case, saying that the government is awaiting the outcome of the procedural actions and will act based on the results. “Combating corruption is one of the government’s main priorities. Any violations of the law must lead to convictions and the inevitability of punishment,” she told Suspilne, adding that the Cabinet of Ministers stands ready to assist NABU and SAPO.

Energy Minister Svitlana Hrynchuk, Halushchenko’s successor, clarified that while her ministry does not directly control Energoatom, it will monitor the investigation closely and ensure that policy oversight is exercised where appropriate. She emphasized the need for transparency and accountability across the entire energy sector.

NABU said the anti-corruption operation, which followed a 15-month investigation and over 1,000 hours of recorded surveillance, led to around 70 searches nationwide. The agency described the activities as part of a broader effort to dismantle high-level criminal structures that have compromised Ukraine’s strategic industries, particularly those critical to national security during the ongoing war.

The investigation into Mindich’s business network, ongoing for several months, has previously drawn political attention. Sources indicated that the case may have been among the reasons behind attempts earlier this year to limit NABU’s institutional independence. Mindich’s name has also surfaced in connection with drone manufacturer Fire Point - though the company has denied any association - and with allegations of influence over banking and energy enterprises, including the nationalized Sense Bank.