Herman Galushchenko Under Investigation
Former Energy Minister Herman Galushchenko is suspected of money laundering as part of the 'Midas' case. Ukraine's National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor's Office (SAPO) have broadened the scope of the investigation, formally accusing Galushchenko of involvement in a criminal organization and the legalization of illicit funds. He was detained on February 15, 2026, while attempting to leave Ukraine. Two days later, on February 17, a court ordered him to be held in custody, with bail set at 200 million hryvnias.
The 'Midas' Case Details
The 'Midas' investigation centers on a criminal organization, which included Galushchenko, that allegedly obtained over $112 million in cash from illegal activities within the energy sector. According to the probe, a fund was registered in Anguilla in February 2021 with the stated aim of attracting around $100 million in investments. This fund was headed by a citizen of Seychelles and St. Kitts and Nevis, and Galushchenko's family was among the investors. More than $7.4 million was transferred to the fund's accounts, which were controlled by the suspect's family.
Furthermore, anti-corruption authorities discovered that Galushchenko's family directly received over 1.3 million Swiss francs and 2.4 million euros in cash in Switzerland. A portion of these funds was used for their children's tuition at prestigious schools and for medical services at a clinic owned by Alexander Zuckerman. Between 2021 and 2025, a total of $12.9 million was laundered for Herman Galushchenko's benefit.
As part of Operation 'Midas,' NABU has collaborated with authorities in 15 countries to gather evidence. On wiretaps, other figures in the case referred to Galushchenko using the codenames 'Professor' and 'Sigismund.' Other individuals implicated in the case include businessmen Timur Mindich and Alexander Zuckerman, as well as Igor Myronyuk, known by the alias 'Rocket,' and Dmitry Basov, the security director of the state-owned nuclear power company Energoatom.
- Timur Mindich
- Alexander Zuckerman
- Igor Myronyuk ('Rocket')
- Dmitry Basov
On November 10, 2025, NABU announced that seven individuals had been formally notified of suspicion in this case. The investigation continues to generate significant public attention, highlighting deep-seated corruption issues within a sector vital to Ukraine's economy and security. This case is a major test for Ukraine's anti-corruption institutions, which have been a focal point of international support and domestic reform efforts since 2014.
The 'Midas' case underscores the profound corruption challenges facing Ukraine, particularly within its critical energy sector. The ongoing investigation has captured widespread public interest and is likely to influence future anti-corruption policies in the country.