The National Anti-Corruption Bureau of Ukraine (NABU) has exposed a massive embezzlement scheme in the energy sector dubbed “Operation Midas,” involving over US$100 million flowing through suspects’ offices, with key figures like Tymur Mindich and Oleksandr Tsukerman charged and placed on wanted lists. Amid investigations, government plans for an NABU audit and online disinformation campaigns targeting anti-corruption bodies highlight escalating tensions between the Cabinet of Ministers and investigative agencies.
Ukrainian authorities have uncovered a large-scale corruption scheme in the energy sector, with detectives tracing over US$100 million in illicit funds, leading to detentions and charges against high-profile suspects.
The scandal, known as Operation Midas, has destabilised criminal networks while sparking government pushback, including a failed audit attempt on NABU and intensified pro-government disinformation efforts.
Core Scandal Revelations
The National Anti-Corruption Bureau of Ukraine (NABU) launched Operation Midas, exposing embezzlement in the energy sector where around US$100 million passed through an office used by the suspects. NABU Director Semen Kryvonos detailed this during documentation, stating, as reported by Valentina Romanenko of Ukrainska Pravda,
“During the documentation process, we established that around US$100 million had passed through the office in one way or another. It may be much more. That’s what we established through operational methods.”
Kryvonos explained that a financial investigation would follow, analysing seized documents to track fund transfers, conversions into property, or offshore accounts.
“During the financial investigation and the analysis of the documents seized – and we seized some very interesting documents – we will be able to see and establish where these funds were transferred, how they were converted, perhaps into property or other assets, or whether they remained in bank accounts abroad, in certain jurisdictions,”
Kryvonos said, according to the same report.
Sources in political and business circles told Ukrainska Pravda that the tracing of over US$100 million has seriously destabilised the criminal group, despite public bravado from those involved. Questions arise whether funds belong to other influential government figures not yet under suspicion, as noted in an article by an unnamed Ukrainska Pravda correspondent.
Key Suspects and Timeline
On 10 November 2025, NABU reported uncovering the scheme and released audio recordings of conversations between those involved. Ukrainska Pravda sources revealed prior searches at the homes of Tymur Mindich and then-justice minister Herman Halushchenko, with Mindich fleeing Ukraine hours beforehand, as covered by an Ukrainska Pravda investigative team.
By 22 November 2025, Ukraine placed Tymur Mindich and Oleksandr Tsukerman, suspects in the Midas case, on its wanted list over alleged corruption, according to Ukrainska Pravda journalists who tracked their status.
Two officials quietly removed from posts were suddenly charged with corruption during a lull in Operation Midas activities, highlighting how anti-corruption agencies capitalised on the period, per sources cited in Ukrainska Pravda.
Government and NABU Tensions
In mid-March 2026, the Cabinet of Ministers planned an independent audit of NABU via a draft resolution initiated unexpectedly by Deputy Prime Minister for European Integration Taras Kachka. This move is significant as a negative audit could justify dismissing NABU Director Semen Kryvonos, but the resolution was never considered, as reported by an Ukrainska Pravda source within NABU.
NABU sources described Kachka’s initiative as sudden, with internal media monitoring showing intensified online disinformation against NABU and SAPO leadership since mid-January 2026. “Since mid-January, Telegram channels have been flooded with posts calling the NABU director and detectives ‘idiots’, alleging that someone has problems with asset declarations or has illicitly enriched themselves. Around the same time, a social media campaign began claiming that anti-corruption bodies are too dependent on the Americans,” a NABU source told Ukrainska Pravda.
Broader Corruption Context
The scandal underscores NABU’s functionality, with the European Commission stating it proves Ukraine’s anti-corruption bodies work, as noted by Tetyana Vysotska and Valentyna Romanenko in Ukrainska Pravda on 13 November 2025.
Ukraine gained one point in the 2025 Corruption Perceptions Index, described as a point for society but only a pass for the government, per Ukrainska Pravda’s coverage on 10 February 2026.
Related probes include anti-corruption agencies exposing a Yuliia Tymoshenko bribery scheme on 14 January 2026, with searches at Batkivshchyna party offices and revelations of “We pay US$10,000 for two sessions” from Tymoshenko tapes, as reported by Ukrainska Pravda.
Political Implications
President Volodymyr Zelenskyy has faced pressure to swap officials amid successive suspicions, with the Midas lull allowing charges against removed figures, according to political sources in Ukrainska Pravda’s 19 February 2026 article.
Ukrainska Pravda has faced systematic pressure from the President’s Office, including blocking government communications, pressuring advertisers, and a live confrontation between Zelenskyy and journalist Roman Kravets, as stated in their 9 October 2024 release.
Investigative Progress
NABU conducted covert actions, detentions, and court decisions on pre-trial restrictions before financial probes, with Kryvonos emphasizing operational methods confirmed the US$100 million figure initially.
Seized documents are key to mapping fund flows, potentially revealing more accomplices or assets, destabilising networks as per business circle sources.
Media and Public Reaction
The European Commission’s endorsement highlights international validation of NABU’s efforts amid domestic pushback.
Disinformation waves, apparently pro-government moderated, target NABU leadership’s integrity and foreign ties, per NABU’s internal monitoring shared with Ukrainska Pravda.
Zelenskyy Administration Links
Ukrainska Pravda journalists found Zelenskyy’s former associates tied to the scandal, with Mindich and Tsukerman’s wanted status confirming ongoing pursuits.
Quiet removals preceded charges, suggesting internal clean-ups amid public scandals, as political circles informed Ukrainska Pravda.
Anti-Corruption Infrastructure
Ukrainska Pravda’s 2020 documentary “Red Line Corruption” examined Ukraine’s anti-corruption setup, contextualising persistent challenges.
NABU’s ability to trace funds and release recordings demonstrates operational resilience despite audit threats.
