During a special operation codenamed “Midas,” detectives from the National Anti-Corruption Bureau of Ukraine (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO) have identified the leader of a large-scale criminal organization – Timur Mindich – a figure known as “Karlson”.
The National Anti-Corruption Bureau of Ukraine (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO) have uncovered a large-scale criminal organization involving current and former officials from the energy sector, a well-known businessman, and several other individuals.
According to investigators, the group built an extensive corruption network to influence strategic state enterprises — including the state-owned nuclear energy company Energoatom — for personal gain, taking bribes and laundering illicit funds.
Currently, five individuals have been detained under Article 208 of the Criminal Procedure Code, and seven have been officially charged, including:
A businessman identified as the leader of the criminal organization – Timur Mindich – “Karlson”;
A former adviser to the Minister of Energy;
The Executive Director for Physical Protection and Security at Energoatom;
Four other individuals responsible for running the “back office” that laundered the illicit proceeds.
Authorities are now considering motions for pre-trial detention.
According to investigators, Karlsson oversaw the operation of a sophisticated money-laundering network, informally referred to as a “laundry,” which was used to clean funds obtained through corruption.
Operating from an apartment on the upper floors of a residential building on Hrushevsky Street in central Kyiv, Karlson allegedly directed the distribution and transfer of illicit cash, while also coordinating efforts to influence senior government officials to serve his own business and political interests — particularly within the energy and defense sectors.
Wiretaps obtained by NABU detectives reveal Karlson managing financial flows, discussing the cover employment of trusted associates, and issuing instructions on “security” measures amid concerns that the anti-corruption bureau might be monitoring his activities.
According to NABU, the evidence points to the existence of a high-level organized criminal structure embedded within state institutions and energy enterprises. The operation “Midas” has already led to multiple searches and detentions in connection with kickback schemes at Energoatom, Ukraine’s largest nuclear energy producer.
The Corruption Scheme
The organization’s main source of profit was systematic kickbacks from Energoatom’s contractors, amounting to 10–15% of contract values.
Companies were reportedly forced to pay bribes to avoid blocked payments or loss of supplier status — a practice referred to internally as the “barrier system.”
To execute this scheme, the criminal group’s leader enlisted a former deputy head of the State Property Fund (later an adviser to the energy minister) and a former law enforcement officer who became an executive at Energoatom.
Leveraging their influence within the ministry and the company, they controlled key appointments, procurement processes, and financial flows. In effect, real control over Energoatom — a strategic enterprise with an annual income exceeding ₴200 billion — was exercised not by official managers but by informal overseers (“watchers”) outside the government structure.
Money Laundering
The laundering of illicit funds was managed through a dedicated office in central Kyiv, located in property belonging to the family of former Ukrainian MP and current Russian senator Andrii Derkach, who is also charged in another NABU-SAPO case.
This office kept detailed “black ledgers”, tracked cash flows, and laundered money via a network of offshore companies. Much of the cash-handling occurred outside Ukraine, and the office charged a percentage fee for laundering money on behalf of external clients.
Investigators estimate that over $100 million passed through this “laundry” during the documented period.
The Operation
The special operation, codenamed “Midas”, lasted over 15 months – beginning in summer 2024. NABU and SAPO collected extensive evidence, including thousands of hours of wiretaps.
In the final phase, almost the entire staff of NABU detectives was mobilized.
More than 70 searches were conducted across Kyiv and other regions, leading to the seizure of large volumes of documents and cash.
The investigation continues as NABU and SAPO work to identify additional participants in the criminal organization.
Further details, including the identities of the involved officials and the scale of financial damage, are expected to be made public in the coming days.
And note the wording used by NABU: “Exerted influence to satisfy private interests in the energy and defense sectors.”
Tags: mindich nabu SAPO
