Ukraine’s anti-corruption watchdog closed its internal investigation into the $100 million Energoatom scandal on 12 January, finding no evidence that its employees had taken bribes.
The same week, the High Anti-Corruption Court extended the criminal investigation by nine months—and the detective who helped expose the scheme says the main suspect is just the beginning.
“I never believed Mindich was the key figure behind all these projects.”
“I never believed Mindich was the key figure behind all these projects,” Ruslan Mahamedrasulov, the National Anti-Corruption Bureau (NABU) detective who gathered key evidence for Operation Midas, said in December. “Given the scale and the way they were carried out, it’s simply not possible.”
Asked if case materials could eventually name people from Ukraine’s senior leadership, he replied: “I hope so.”
The watchdog’s verdict
The National Agency on Corruption Prevention (NACP) launched its probe on 10 November after NABU released wiretap recordings in which a suspect discusses delivering $20,000 to the agency. Anastasia Radina, chair of parliament’s anti-corruption committee, said NABU recordings from May 2025 show Energoatom security director Dmytro Basov—codenamed “Tenor”—likely bringing a $20,000 bribe to NACP.
“After the analysis, it can be stated that the mentioned transfer of undue benefit to NACP is neither a one-time nor a systematic phenomenon.”
Two months later, NACP head Viktor Pavlushchyk announced the agency found nothing. His team examined declaration verifications, conflict-of-interest guidance provided to Energoatom, inspections of both Energoatom and the Ministry of Energy, and court cases involving the nuclear operator.
“After the analysis, it can be stated that the mentioned transfer of undue benefit to NACP is neither a one-time nor a systematic phenomenon,” Pavlushchyk told ZN.UA.
The phrasing is notable: not “it didn’t happen,” but “it’s not systematic.”
A credibility problem
NACP’s self-clearance arrives with the agency already under European scrutiny. The European Commission’s November 2025 enlargement report shifted from praising NACP as an institution that “achieved good results and demonstrated its independence” in 2024 to expressing concerns “regarding its impartiality and effectiveness in some of its operations” one year later.
Those concerns connect to €50 billion ($58 billion). The EU’s Ukraine Facility—the largest wartime support package in European history—ties quarterly payments to governance benchmarks, including anti-corruption performance. When Ukraine attempted to limit NABU’s independence in July 2025, the EU froze $5.5 billion until street protests forced a reversal.
“NACP has retained problematic practices in financial control despite previous criticism.”
NACP’s job is catching officials who live beyond their means—before scandals erupt. Transparency International Ukraine’s October 2025 Shadow Report found “the NACP has retained problematic practices in financial control despite previous criticism from civil society and international auditors.”
The organization noted that full declaration checks often prove less effective than targeted monitoring: in the first half of 2024, 200 declaration verifications uncovered only UAH 14.4 million in unjustified assets, while a single lifestyle monitoring case found nearly twice that amount.
The agency found nothing wrong. Investigators later discovered $6 million in cash in her home.
One example: NACP reviewed the declaration of Tetiana Krupa, a regional official who listed a house at $76 and farmland at $118 per hectare. The agency found nothing wrong. Investigators later discovered $6 million in cash in her home.
She declared a house worth $76. Authorities found $6 million in her closet. The agency saw no problem.
The investigation expands
While the NACP closed its probe, the criminal case continued to grow. On 26 December, the High Anti-Corruption Court extended the Midas pretrial investigation until August 2026.
NABU’s 15-month investigation documented a scheme in which Energoatom contractors paid 10-15% kickbacks to avoid blocked payments or losing their supplier status—a practice known as “Shlagbaum” (barrier).
Investigators estimate $100 million was laundered through an office linked to Andriy Derkach, a former Ukrainian MP now serving as a Russian Federation senator.
“There are accusations, there is a case. The investigation is ongoing. Then there will be a trial.”
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Seven suspects have been charged. Tymur Mindich, the businessman NABU accuses of orchestrating the scheme, left Ukraine hours before November raids and remains in Israel. In December, Ukrainska Pravda journalists found him in Herzliya, near Tel Aviv.
“I cannot deny the NABU and SAP accusations,” Mindich told them. “There are accusations, there is a case. The investigation is ongoing. Then there will be a trial.”
“I’ve been made the fall guy,” Mindich said, calling the coverage “the coolest, most genius media attack.”
He confirmed knowing National Security and Defense Council Secretary Rustem Umerov and former Energy Minister Herman Halushchenko, but denied giving either instructions. His trip to Israel the night before raids was “planned,” he insisted.
“I’ve been made the fall guy,” Mindich said, calling the coverage “the coolest, most genius media attack.”
On 1 December, the High Anti-Corruption Court ordered Mindich detained in absentia. His case may now go to Interpol.
New oversight at Energoatom
Ukraine has moved to meet EU corporate governance requirements at the nuclear operator. On 31 December, Prime Minister Yulia Svyrydenko announced four independent supervisory board members.
These are Rumina Velshi, former head of Canada’s nuclear regulator; Laura Garbenčiūtė-Bakienė, a Lithuanian finance and audit specialist; Patrick Fragman, a French nuclear industry executive; and Brice Bohuon, a French energy regulation lawyer.
“Very glad we have good new independent members,” EU Delegation head Katarína Mathernová wrote. “Looking forward to the finalization of the full Board in January.”
The detective’s warning
Mahamedrasulov spent nearly five months in detention after Security Service officers arrested him on 21 July 2025—the same day parliament voted to strip NABU of independence. He was charged with espionage; he calls the charges fabricated.
“Over 100 searches across all my contacts,” Mahamedrasulov told Ukrainska Pravda. “There were cases of people being beaten, held for several days, and pressured to testify against me.”
His assessment suggests the investigation still has further to climb.
Released in December after Yermak’s dismissal, he has returned to NABU. The espionage case remains open.
“At the start, our work focused on the Defense Ministry and Karlsson’s activities in that area,” he said, using Mindich’s codename. His assessment suggests the investigation still has further to climb.
NACP said it will share its findings with NABU and parliament’s anti-corruption committee, adding it remains “ready to verify other facts, if such become known.”
