“Midas”: Investigation into the kickback scheme in the energy sector has been completed

In the Midas case, the pre-trial investigation into members of an alleged criminal organization has been completed. It was conducted by the National Anti-Corruption Bureau of Ukraine and the Specialized Anti-Corruption Prosecutor’s Office. According to investigators, the group established corrupt influence over strategic state-owned enterprises, including JSC “National Nuclear Energy Generating Company ‘Energoatom’”, received illegal benefits, and laundered illicit proceeds.

The scheme described by detectives involved systematic payments from Energoatom contractors and enterprises under the management of the Ministry of Energy. According to the NABU and the SAPO, members of the organization received 10–15% of the value of contracts from them.

According to the investigation, a separate office within the group was used to launder these proceeds. Between 2020 and 2025, more than $111 million and €12 million received from the energy sector passed through it in cash. Detectives also established that the organization received money from other sources.

Among the financial instruments investigators say were used to launder the funds were:

• cryptocurrency;
• securities;
• a foreign investment fund.

During the investigation, the NABU and the SAPO took measures to seize assets belonging to the alleged criminal organization in Ukraine and abroad. Efforts to identify and freeze these assets will continue.

At the same time, several criminal proceedings were separated from the main case. Investigators are continuing to examine possible offers and receipt of illegal benefits in the energy sector, as well as the laundering of funds for the benefit of other individuals.

The NABU and the SAPO announced the exposure of a large-scale criminal organization in the energy sector in November 2025. The operation was code-named Midas. The list of suspects was later expanded to include:

• a former deputy prime minister;
• a former Minister of Energy of Ukraine.

The investigation lasted 15 months. More than 70 searches were conducted as part of the case, and the total length of audio recordings collected exceeded 1,000 hours. The NABU and the SAPO also released photographs of sports bags and packages stuffed with bundles of dollars and euros, found during searches of individuals involved in the energy scheme.

We previously reported:

• NABU reports a scheme to launder UAH 150 million for bail in the Midas case
• Tashlyk Pumped Storage Power Plant: UAH 170 million in overpayments through a foreign company under its control; organizer detained — NABU and SAPO
• Former energy minister suspected of laundering more than $100 million in the “Midas” case
• Carlson unmasked: Timur Mindich identified as head of criminal organization that embezzled funds in the energy sector, says NABU
• NABU uncovers a $100 million “laundromat”: Kyiv office belonged to the family of former MP Derkach