NABU notifies ex-Energy Minister Halushchenko of suspicion in Midas case
Herman Halushchenko notified of suspicion in Midas corruption case (Photo: mev.gov.ua)
NABU and SAPO have notified former Energy Minister Herman Halushchenko of suspicion in the high-profile "Midas" corruption case, the agency's press service reported on Feb. 16.
Investigators accuse Halushchenko of money laundering and participating in a criminal organization (Part 2 Art. 255, Part 3 Art. 209 of the Criminal Code). Detectives detained the ex-minister on Feb. 15 while he was attempting to flee Ukraine.
The Scheme: Anguilla & Marshall Islands
Investigation showed that a criminal group — exposed by NABU in Nov. 2025 — registered a fund in Anguilla (UK overseas territory) in Feb. 2021 to "attract" about $100m.
To hide Halushchenko's involvement, two companies were created in the Marshall Islands, integrated into a St. Kitts and Nevis trust. The beneficiaries were the ex-minister's former wife and four children.
NABU found that during Halushchenko's tenure, the criminal organization received over $112m in cash from illicit energy sector activities via a proxy known as "Rocket." Funds were laundered through cryptocurrency and the offshore fund.
Over $7.4m was transferred to family-controlled fund accounts. Additionally, the family received over 1.3m CHF ($1.45 million) and 2.4m EUR ($2.5 million) in cash or direct transfers in Switzerland.
Midas Operation
Halushchenko served as Energy Minister (2021–2025) and briefly as Justice Minister (July–Nov 2025).
Midas case targets a massive corruption scheme allegedly organized by businessman Timur Mindich. The group reportedly demanded 10–15% kickbacks on Energoatom contracts.
In October, NV reported that Halushchenko maintained influence over energy companies even after moving to the Justice Ministry, cooperating primarily with Mindich.
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