NABU and SAPO stated that in the Midas case, funds from the energy sector were legalized through cryptocurrency and a network of offshore structures, and the trail leads to accounts in Swiss banks.
NABU and SAPO stated that in the Midas case, funds from the energy sector were legalized through cryptocurrency and a network of offshore structures, and the trail leads to accounts in Swiss banks.
According to NABU, the former Minister of Energy of 2021-2025 is suspected of money laundering and participation in a criminal organization. Detectives claim that during the official’s tenure, the group received more than $112 million in cash, and then «diluted» these amounts through various financial instruments, including cryptocurrency and investments in a specially created fund.
The scheme described by anti-corruption activists began with the registration of a fund on the island of Anguilla in 2021. To hide the suspect’s involvement, two companies were created in the Marshall Islands, embedded in a trust in St. Kitts and Nevis. According to the investigation, the official’s ex-wife and four children were registered as their beneficiaries. These companies acted as «investors» in the fund, and the funds began to flow into accounts opened in three banks in Switzerland.
A separate touch, important for the investigation, is the role of the trustee. NABU notes that the cash was transferred through a person known as «Rocket». Currently, transfers to the fund’s accounts of more than $7.4 million have been established, as well as cash withdrawals and direct transfers to the family in Switzerland in the amounts of more than 1.3 million Swiss francs and 2.4 million euros. Part of the money, according to the investigation, was spent on the education of children in Switzerland and placed in deposits.
The Midas case became public in the fall of 2025, when NABU and SAPO announced the exposure of a criminal organization related to the energy sector. On February 15, 2026, the former minister was detained while trying to leave Ukraine. NABU states that it is cooperating with competent authorities in 15 countries within the framework of this investigation.
Previously, dev.ua wrote about how 44 million hryvnias received under plea agreements in SAPO and NABU cases and approved by the Supreme Anti-Corruption Court were transferred to the Sternenko Community charitable foundation. The funds will be used to purchase FPV drones for units of the Defense Forces.
