Media: Zelenskyy may be drawn into “Midas” corruption case as probe expands PHOTO

Ukraine’s National Anti-Corruption Bureau (NABU) has released new recordings in the “Midas” case, an ongoing high-profile corruption probe, in which the construction of luxury cottages near Kyiv is being discussed, with President Volodymyr Zelenskyy potentially emerging as a figure in the ongoing investigation.

The investigation is primarily focused on three figures: former Head of the Presidential Office Andriy Yermak (R2), former Deputy Prime Minister Oleksiy Chernyshov (R4), and businessman Timur Mindich (R3), according to Ukrainian media.

On the recordings, the individuals discuss details of building four houses — including construction timelines, design, financing, and interior finishing. According to investigators, the group allegedly laundered nearly $9 million obtained through corruption schemes, including in the energy sector, and directed these funds toward construction payments.

Another figure, referred to as R1, is also mentioned briefly in the recordings. Earlier media reports suggested that the houses were being built for Chernyshov, Mindich, Yermak, and Ukrainian President Volodymyr Zelenskyy. Based on this, analysts believe that R1 refers to Zelenskyy.

Additional indirect confirmation is said to appear in a dialogue involving Chernyshov: in March 2022, he allegedly acted on the instructions of a “boss,” demanding that construction of the cottages be accelerated despite the start of Russia’s full-scale invasion. In this context, the “boss” could only be the president. Earlier, there were also claims that Zelenskyy’s voice could be heard on recordings involving Mindich.

If the assumption that R1 is Zelenskyy proves correct, it could theoretically make the president an indirect figure in the case. However, under Ukraine’s Constitution, the sitting president enjoys immunity from criminal prosecution, and legal action could only be initiated after the end of his term.

Nevertheless, the released recordings may be used politically, including to weaken Zelenskyy’s chances of re-election or to exert pressure regarding policy decisions — both in relation to the format of ending the war and fulfilling EU requirements for reforms that would limit presidential control over law enforcement bodies.

Operation “Midas” is a large-scale anti-corruption investigation led by Ukraine’s National Anti-Corruption Bureau and the Specialised Anti-Corruption Prosecutor’s Office, focused on alleged bribery and money laundering schemes linked to the state energy sector, particularly Energoatom. The probe uncovered extensive audio surveillance material and months-long investigative work targeting a network of officials and businessmen suspected of coordinating illicit financial flows during the war period.

Authorities describe the case as involving a structured group allegedly responsible for extracting illegal commissions from state contracts and channelling the proceeds into luxury real estate projects, with multiple senior political and business figures already appearing in the evidence material.

The investigation has been developing through successive waves of released recordings and detentions, and is still ongoing, with prosecutors continuing to identify additional participants and clarify the financial architecture behind the scheme.

By Jeyhun Aghazada