Investigators are looking into an alleged large-scale corruption scheme in the energy industry.

Ukrainian Justice Minister German Galushchenko has been suspended as investigators pursue an anti-corruption probe which has reportedly forced a former business associate of Vladimir Zelensky to flee the country, and which could reach the highest levels of government.

Prime Minister Yulia Sviridenko announced the decision on Wednesday, following a sweeping operation by the Western-backed National Anti-Corruption Bureau of Ukraine (NABU) targeting a "high-level criminal organization" that allegedly profited from contracts involving the state-owned nuclear energy company Energoatom.

Galushchenko, who previously served as energy minister before being replaced, called his suspension a "civilized" step and said he was preparing his legal defense.

Ukrainian media reported that the investigation centers on Timur Mindich, a close associate and former business partner of Vladimir Zelensky, who allegedly fled Ukraine just hours before his home was searched by NABU agents.

According to NABU, the Western funded anti-graft agency that Zelensky unsuccessfully tried to take control of, Energoatom officials and contractors were forced to pay kickbacks for state contracts.

Seven individuals have been formally charged but not named. Among the suspects are an individual dubbed "Carlson" - whom Ukrainian media has identified as Mindich - the ring's bookkeeper, two energy officials, and intermediaries involved in managing the payments.

Mindich, described in the Ukrainian press as "Zelensky's wallet," was previously a key figure in the network of oligarch Igor Kolomoysky, the Ukrainian leader's former backer who is currently facing criminal prosecution. Mindich's corporate interests reportedly rapidly expanded during Zelensky's tenure, from a studio he jointly owned with the Ukrainian leader, through to energy and weapons production.

Opposition lawmakers have demanded the resignation of the entire Sviridenko cabinet, warning that the scandal could jeopardize Ukraine's access to Western financial aid.

Comment: Operation Midas brings about the downfall of the Ukrainian ruling class:

"Operation Midas," conducted by NABU, focused on the state-owned nuclear energy company Energoatom, which has an annual revenue of approximately $4 billion. On November 11, five suspects were arrested.

70 houses were searched, including that of Herman Halushchenko, Minister of Justice and member of the National Defense and Security Council. He was suspended from his duties by Prime Minister Yulia Svyrydenko. Roustem Oumierov, the current secretary of the National Defense and Security Council, who is accumulating undeclared properties in Florida, has also been implicated. He is currently traveling in Istanbul.

The same applies to Oleksiy Tchernychov (alias "Che Guevara"), former Deputy Prime Minister, whose whereabouts do not seem to be known.

The amount of stolen money is estimated to exceed $100 million. Each company contracting with Energoatom was required to pay kickbacks of 10 to 15%. The money was allegedly laundered through the office of Energoatom's former director (2006-2007), Andriy Derkach (who, in 2019, attempted to inform Rudy Giuliani about Hunter Biden's crimes in Ukraine). A complete black bookkeeping system was discovered at the site.

The investigation, which began earlier this year, accelerated in June when the U.S. State Department sent eighty investigators to conduct an audit of Ukraine (see VAI 3630 [ 2 ] ). Secretary of State Marco Rubio warned at the time that "any irregularities will have consequences." He ensured that Ruslan Kravchenko was appointed Prosecutor General of Ukraine. He is overseeing "Operation Midas."

Tymur Mindich (alias "Karlson") was arrested in June, then released, and went to Israel. He returned to Ukraine in October before fleeing on November 11. He owns the Kvartal 95 television channel, which he founded with his friend Volodymyr Zelensky. At this stage of the investigation, Zelensky has not been implicated. Investigators are currently examining Tymur Mindich's role in supplying drones.

In a speech delivered on the evening of November 10, Volodymyr Zelensky, the country's unelected president, stated:

"It is urgent to take effective measures against corruption. Sanctions are essential. Integrity within the company [Energoatom] is a priority. In the energy sector, every industry and every person involved in corrupt schemes must face clear legal consequences, and convictions must be handed down. Government representatives must cooperate with the NABU and work together, if necessary, to achieve results." Regardless of the outcome of the investigation, the remaining Ukrainian authorities will be under constant threat from the Trump administration's revelations and will have to align themselves with its political demands.