Ukraine’s anti-corruption authorities will ask a court to keep former Energy Minister Herman Galushchenko in custody pending trial, with the option of bail, a spokesperson for the Specialized Anti-Corruption Prosecutor’s Office (SAP) said. SAP will seek bail of 425 million hryvnias ($9.8 million), spokesperson Olha Postoliuk told RBC-Ukraine.
According to prosecutors, Galushchenko is suspected under Part 2 of Article 255 and Part 3 of Article 209 of Ukraine’s Criminal Code, which concern participation in a criminal organization and money laundering. Authorities are currently deciding on the pretrial restraint measure.
Galushchenko was detained several days ago as he allegedly tried to leave Ukraine. He was later notified of suspicion on the above counts.
Investigators allege that in 2021, members of a criminal organization registered a fund on the Caribbean island of Anguilla to attract $100 million in “investments.” Two companies linked to Galushchenko’s family allegedly became the fund’s “investors,” channeling proceeds from illicit activities in Ukraine’s energy sector. Prosecutors say roughly $112 million in stolen funds was also moved into cryptocurrency. Galushchenko allegedly received more than $7.4 million, €2.4 million and over 1.3 million Swiss francs, some of which was used for children’s schooling in Switzerland and placed in accounts belonging to his former wife.
Ukraine’s National Anti-Corruption Bureau (NABU) and SAP opened their energy-sector corruption investigation - known as “Operation Midas” - in 2024. Investigators claim massive bribes were demanded for Energoatom contracts and allege the criminal group was organized by businessman Timur Mindich, who is currently living in Israel. They say senior Ukrainian officials could be implicated, including former head of the President’s Office Andriy Yermak. The pretrial investigation is ongoing.
