Ukraine Charges Ex Energy Minister with Money Laundering in ‘Operation Midas’ Case

Ukraine’s National Anti-Corruption Bureau (NABU) charged former Energy Minister Herman Halushchenko with money laundering and organized crime as part of “Operation Midas,” alleging he used Marshall Islands shell companies and a St. Kitts and Nevis trust to move over $7.4 million, with significant cash withdrawals in Swiss francs and euros delivered to family in Switzerland. The probe targets a fund at the center of a network of “shadow managers” accused of infiltrating Energoatom to extort contractor kickbacks and launder roughly $100 million, supported by extensive searches, seized documents and cash, and thousands of hours of audio recordings. The arrest follows earlier court actions, including high bail set for former Deputy Prime Minister Oleksiy Chernyshov and several associates linked to Energoatom.