Andriy Yermak and the Midas Corruption, Operation Midas is a major investigation conducted by NABU (National Anti-Corruption Bureau of Ukraine) and SAPO (Specialized Anti-Corruption Prosecutor’s Office). According to investigators, a group of private intermediaries created an external control center that effectively managed procurement processes at the state-owned company Energoatom—controlling tenders, excluding suppliers, and demanding kickbacks.
Media reports estimate the total volume of corrupt transactions at up to $100 million, with the scheme operating for approximately 15 months.
More than 70 searches have been conducted, and over 1,000 hours of wiretapping have been collected.
Yermak in Midas Investigation
Investigators believe that a group of private individuals created a “shadow management center” for Energoatom’s procurement operations. Through this network:
- “Preferred” contractors were selected,
- “Unwanted” companies were removed from the supplier registry,
- kickbacks of 10–15% were demanded from contract amounts,
- funds were laundered via shell companies and individual entrepreneurs.
This system allowed the group to control multimillion-dollar purchases and distribute profits among its members.
Key Figures in Operation Midas
Below is a structured table with the main participants, their roles, and the nature of the accusations.
Andriy Yermak Faces Allegations
| Name / Nickname | Role | Nature of Suspicion |
|---|---|---|
| Tymur Mindich (“Karlson”) | Businessman, co-owner of Kvartal 95. Considered the organizer. | Organizing the kickback scheme, controlling contract distribution, money laundering. Investigators say hundreds of millions of hryvnias passed through his office. Fled Ukraine. |
| Ihor Myroniuk (“Rocket”) | Former Advisor to the Minister of Energy. | Coordinating intermediaries and Energoatom, approving suppliers, participating in money laundering. Held in custody with possible bail. |
| Dmytro Basov (“Tenor”) | Security Director at Energoatom, former prosecutor. | Assisting in extorting kickbacks, pressuring contractors, involvement in the “back-office” operations. Detained. |
| Oleksandr Tsukerman (“Sugarman”) | Financial intermediary (“back-office”). | Converting and laundering funds through chains of shell companies. Fled Ukraine after searches. |
| Ihor Fursenko (“Roshyk”) | Sole Proprietor, participant in financial operations. | Fund transfers, fictitious transactions, involvement in conversion operations. |
| Lesia Ustymenko | Sole Proprietor, financial intermediary. | Participation in laundering and distributing the group’s funds. |
| Liudmyla Zorina | Sole Proprietor, participant in conversion schemes. | Fictitious transactions, assisting in redistributing kickbacks. |
Current Status of the Investigation
- 7 individuals have been formally notified of suspicion.
- 5 are detained or remain in custody.
- 2 (Mindich, Tsukerman) are wanted or have fled Ukraine.
- Prosecutors classify the group as a highly coordinated organized corruption network.
- The government has suspended involved officials and launched additional internal checks.
How Andriy Yermak Is Connected to the Midas Corruption Case
The Operation Midas investigation, conducted by NABU and SAPO, has led investigators to the close circle of the Head of the Office of the President, Andriy Yermak. In late November 2025, anti-corruption authorities conducted searches at his apartment and properties associated with him, which was confirmed by several international media outlets, including Euronews, Financial Times, OSW, and Euromaidan Press. These actions are linked to the kickback scheme at Energoatom, which, according to investigators, was organized by a group of “external intermediaries.”
Midas Corruption: Yermak’s Role
A key figure in the case, businessman Tymur Mindich, considered by investigators as the “architect” of the Midas scheme, has been a long-time partner and close acquaintance of Yermak. According to NABU, decisions regarding contract allocations and contractor kickbacks were made through Mindich. Media reports also mention the codename “Ali Baba”, which some sources associate with Yermak—although legally this connection has not yet been confirmed. After the start of investigative actions, Yermak resigned from his position but stated his non-involvement and willingness to cooperate with the investigation.
Yermak Accused in Midas Case
Thus, Yermak’s connection to the Midas case is based on three key factors: searches of his property, close ties with the main suspect Tymur Mindich, and mentions in the investigation materials that drew the attention of anti-corruption authorities. It is important to note that, at this time, Yermak does not have an official status as a suspect.