Ukraine Charges Ex-Energy Minister with Money Laundering in ‘Operation Midas’ Case

Ukraine’s National Anti-Corruption Bureau (NABU) charged former Energy Minister Herman Halushchenko with money laundering and participation in a criminal organization on Monday, February 17, 2026, as part of “Operation Midas,” a sweeping investigation into the energy sector . The charges came just after Halushchenko was detained while attempting to leave the country.

Investigation Details and Allegations

The investigation, centered around a fund registered in Anguilla in February 2021, alleges that approximately $100 million in purported investments were attracted through a criminal group exposed in November 2025. The fund was reportedly headed by a professional money launderer from Seychelles and St. Kitts and Nevis, with Halushchenko’s family listed among the “investors” .

Investigators claim that over $112 million in cash from unlawful activities within the energy sector flowed to the group via an intermediary known as “Rocket.” These funds were then laundered through cryptocurrency and the Anguilla-based fund. More than $7.4 million was allegedly transferred to accounts controlled by Halushchenko’s family, along with over 1.3 million Swiss francs ($1.7 million) and 2.4 million euros .

The allegations involve a bribery scheme worth approximately $100 million related to Ukraine’s state nuclear energy company, Energoatom .

Court Proceedings and Bail

The High Anti-Corruption Court initially ordered a 60-day detention for Halushchenko. Prosecutors initially requested bail be set at 425 million hryvnias ($9.8 million), arguing he could potentially influence witnesses or attempt to flee the country . Halushchenko has stated he had no intention of leaving the country and disagreed with the bail amount, intending to appeal the decision.

Broader Context and Political Implications

This arrest is part of a larger corruption scandal that began in November 2025, impacting several high-ranking Ukrainian officials. The “Midas” case investigation also focuses on Timur Mindich, considered a possible organizer and a former associate of Ukrainian President Volodymyr Zelensky. Mindich reportedly left Ukraine before charges were filed .

The scandal has raised concerns among Ukraine’s Western allies, who emphasize the importance of reforms and the rule of law.

Role of Anti-Corruption Agencies

The National Anti-Corruption Bureau of Ukraine (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAP) are independent law enforcement agencies established after the 2014 revolution to combat corruption within the Ukrainian government. They collaborate with the General Prosecutor’s Office and the High Anti-Corruption Court, possessing broad investigative powers, including wiretapping, searches, detentions, and asset freezes, all subject to court approval. Their activities are also monitored by international partners .