Operation Midas: The $112 Million Cash Scheme Uncovered in Ukraine's Energy Sector.

Operation Midas: A Golden Touch for Corruption

According to Novyny.live: A sweeping investigation, codenamed 'Operation Midas,' has exposed massive corruption schemes within Ukraine's state energy sector, with participants receiving over $112 million in cash. This case is a significant test of Ukraine's anti-corruption institutions, which are crucial for maintaining international support. Among the key figures are former ministers, including ex-Energy Minister Herman Halushchenko, as well as businessmen and advisors allegedly involved in the abuses.

Launched in 2022, Operation Midas aims to uncover and document corrupt activities in the state energy sector. Between 2021 and 2025, more than $112 million in U.S. dollars was recorded in a 'shadow ledger.' Halushchenko, who was appointed Minister of Justice in July 2025, was identified under the codename 'Sigismund.' The press service of the National Anti-Corruption Bureau of Ukraine (NABU) states that

"funds received from the energy sector and transferred by 'Rocket' to the criminal organization's office in cash were recorded in the shadow ledger under the codename 'Complex.'"

Key Figures in the Case

Other individuals implicated in the case include:

• Ihor Myroniuk, former advisor to the Minister of Energy
• Dmytro Basov, Executive Director of the National Nuclear Energy Company 'Energoatom'
• Businessman Timur Mindich, who is currently in Israel

NABU's press service emphasizes that 'the key role of 'Sigismund' in the activities of the Ministry of Energy, Energoatom, the National Energy and Utilities Regulatory Commission, the United Gas Transmission System of Ukraine, and other state energy sector entities has not diminished in practice.'

A crucial aspect of the investigation involves the use of cryptocurrency to launder money, which was funneled into accounts of a Swiss foundation or paid in cash to Halushchenko's ex-wife. In light of these circumstances, the High Anti-Corruption Court (HACC) has ordered Halushchenko to be held in custody with the possibility of posting bail.

Operation Midas demonstrates the increasing activity of Ukrainian law enforcement in combating corruption, particularly within the strategically vital energy sector. The uncovered schemes point to systematic abuse at high levels of power, which could have serious consequences for the country's political and economic stability. These events also underscore the critical importance of transparency and accountability in government, a key requirement for Ukraine's continued international backing amidst ongoing challenges.