Ex-Energy Minister Galushchenko Charged in 'Midas' Money Laundering Case.

Herman Galushchenko Case

According to TSN.ua: Ukraine's National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor's Office (SAPO) have formally charged former Energy Minister Herman Galushchenko in the 'Midas' case. He is suspected of money laundering and participating in a criminal organization. Galushchenko served as Energy Minister from 2021 to 2025, a period during which, investigators allege, a criminal network was established to carry out illegal activities in the energy sector. This case highlights ongoing challenges in a sector critical to both Ukraine's economy and its national security.

Investigation Details

According to the investigation, an investment fund was established on the island of Anguilla in February 2021 with the stated aim of attracting around $100 million USD. However, the criminal organization is alleged to have received over $112 million in cash from its operations. Galushchenko's family controlled the fund's accounts, to which more than $7.4 million was transferred. Furthermore, case materials indicate that over 1.3 million Swiss francs and 2.4 million euros were either issued in cash or transferred to the family in Switzerland.

On February 15, 2025, NABU detectives detained Herman Galushchenko as he attempted to leave Ukrainian territory. This arrest marked a significant development in the ongoing 'Midas' investigation, which continues to draw considerable public attention. The case is linked to a criminal organization that, according to investigators, operated through companies integrated into a trust structure, including entities based in the Marshall Islands.

The investigation is ongoing, and NABU detectives continue to gather evidence to support their case.

Galushchenko's detention could signify a major step in Ukraine's fight against corruption, particularly within the energy sector, which has long been plagued by systemic abuse.

Cases like 'Midas' reveal the complexity and systematic nature of corruption schemes, demanding sustained effort from law enforcement to expose and dismantle them. The progress of this investigation is also likely to impact public trust in Ukraine's anti-corruption institutions.