Ukraine’s National Anti-Corruption Bureau (NABU) has carried out a series of high-profile searches in Kyiv, including premises linked to Timur Mindich, a former business partner of President Volodymyr Zelenskiy, as part of what investigators describe as a major $100mn corruption investigation in the country’s energy sector, reported The Kyiv Independent.

Law enforcement sources told The Kyiv Independent that Mindich fled the country only hours before investigators from the independent NABU  raided his home and offices on November 10.

Mindich co-owns Kvartal 95, the production company founded by Zelenskiy, and has remained a figure of interest to investigators amid earlier probes into his alleged role in state energy contracts and drone production firms.

This is the second time Zelenskiy has been embroiled has been embroiled in corruption charges. Earlier this year he attempted to take NABU under his direct control by ramming through Law 21414 that guts Ukraine’s anti-corruption drive but was quickly forced to backtrack following the first anti-government protests since the start of the war with Russia. At the time, NABU was reported investigating figures from Zelenskiy inner circle for corruption.

Now Zelenskiy has been caught up in fresh allegations as Mindich remains a close personal friend of Zelenskiy’s and wealthy. Zelenskiy has surrounded himself with friends and former colleagues from Kvatal95, including his head of staff, and Ukraine’s éminence grise, Oleksiy Termek.

Investigators released picture of a golden toilet in Mindich’s opulently decorated home and numerous packets of hundred dollar bills following their raid.

NABU claims that officials that were not appointed to run state controlled energy companies took control of procurement and ran a an alleged $100m kickback scheme involving Energoatom, the state-run nuclear power company that supplies more than half of the country’s electricity.

NABU said in a statement posted on social media that a “high-level criminal organisation” orchestrated the alleged scheme, led by a businessman and involving a former adviser to the energy minister, Energoatom’s head of security, and four other employees. In total, approximately $100mn passed through this so-called laundromat,” NABU said, without naming the suspects.

“The minister’s adviser and the director of security at Energoatom took control of all the company’s purchases and created conditions under which all contractors had to pay illegal benefits,” according to NABU chief detective Oleksandr Abakumov, Al Jazeera reports.

In his evening address, Zelenskiy backed away from Mindich and others under investigation, praising the bureau’s work but avoiding mentioning any names.

“Any effective actions against corruption are very needed. The inevitability of punishment is necessary,” he said. The president added that officials must cooperate fully with law enforcement, stressing that “there must be convictions.”

Expanding investigation

NABU confirmed it is conducting “a major anti-corruption operation” jointly with the Specialised Anti-Corruption Prosecutor’s Office (SAPO). According to its statement, the agency documented “the activities of a high-level criminal organisation” that had established control over several state-owned enterprises, including the nuclear energy giant Energoatom.

Officials said the network extracted bribes of between 10% and 15% from Energoatom contractors. A 15-month investigation involving over 1,000 hours of recorded conversations culminated in 70 searches across Ukraine, NABU reported.

“In fact, the management of a strategic enterprise with an annual revenue of more than UAH200bn ($4.7bn) was carried out not by officials, but by outsiders who had no formal authority,” the bureau said.

Audio recordings released by NABU identify several figures by their code names — “Roket,” “Tenor,” “Karlson” and “Professor.” According to sources cited by the Kyiv Independent, “Roket” is Ihor Myroniuk, a former adviser to then-energy minister Herman Halushchenko; “Tenor” is Dmytro Basov, a former prosecutor and Energoatom security chief; “Professor” is believed to be Halushchenko himself; and “Karlson” — the alleged ringleader — is Mindich.

The tapes appear to capture conversations about steering state tenders, collecting kickbacks and delaying projects to maximise profits. One recording reportedly includes “Roket” describing anti-drone defences for energy facilities as “a waste of money.”

Political reverberations

The revelations have sent shockwaves through Kyiv’s political and business circles. Justice Minister Herman Halushchenko — who served as energy minister from 2021 to 2025 — was among those searched, according to law enforcement sources.

Mindich, who has long denied wrongdoing, is believed to have left Ukraine before the raids began. In June, NABU arrested his relative Leonid Mindich while allegedly attempting to flee abroad. He was charged with embezzling $16mn from the regional energy company Kharkivoblenergo.

Zelenskiy’s political allies have been quick to frame the case as a test of Ukraine’s anti-corruption credentials, particularly as Kyiv seeks to maintain international confidence and continued Western support amid Russia’s invasion.

Prime Minister Yulia Svyrydenko told public broadcaster Suspilne that the government “is awaiting the results of the procedural actions concerning the situation with Energoatom.” She added, “Combating corruption is one of the government’s key priorities. There should be sentences and inevitable punishment for any offences.”

Current Energy Minister Svitlana Hrynchuk emphasised that Energoatom operates independently of her ministry but pledged full cooperation: “We will look into this case and respond according to the results of the investigation.”

Public reaction and controversy

Public anger has been fuelled by reports circulated on social media. MP Yaroslav Zheleznyak claimed that NABU agents found “a golden toilet” and “a golden bidet” in one of Mindich’s Kyiv properties — a detail that became a symbol of alleged excess in online debate. “A golden toilet is in one of the bathrooms of Zelenskiy’s business partner Timur Mindich,” political scientist Ivan Katchanovski posted on X, citing Zheleznyak’s statement.

Ukrainian journalist Diana Panchenko called the revelations “Zelenskiy’s personal disgrace,” writing that “if all the guilty don’t go to prison, Ukrainians will stop fighting.”

While NABU has not commented on those specific claims, the bureau said it had identified evidence of “a sophisticated money-laundering network” involving around $100mn in illicit proceeds. Investigators allege the group channelled funds through offices linked to the family of fugitive ex-lawmaker Andrii Derkach, who has served as a Russian senator since 2024.

Broader implications

The scandal has erupted as Ukraine braces for another winter under heavy Russian bombardment. Just two days before the raids, Moscow launched a large-scale drone and missile strike targeting energy infrastructure — a campaign Kyiv believes is designed to cripple the power grid.

The timing of the investigation underscores the high stakes for Ukraine’s leadership. Western partners have repeatedly warned that continued financial and military support depends on tangible progress in curbing corruption.

Analysts say the Mindich case could prove a watershed moment for Zelenskiy, whose anti-corruption image helped propel him to power in 2019 but has faced scrutiny as wartime politics blur the line between business and governance.

“Whether Zelenskiy can distance himself from his former associates while preserving the independence of NABU will determine how credible Ukraine remains in the eyes of its Western allies,” said Kyiv-based political analyst Volodymyr Fesenko.

Mindich’s influence reportedly extends across banking and energy sectors. An investigation by Ukrainska Pravda earlier this year alleged he wields behind-the-scenes control over Sense Bank, which was nationalised in 2023, though the bank has not commented on those claims.

The NABU probe adds to mounting political tension between the president’s office and the anti-corruption agencies, which some officials sought to restructure earlier this year. According to Kyiv Independent sources, an attempt to curtail NABU’s autonomy in July may have been linked to the Mindich investigation.

As the searches continue, Ukraine’s anti-corruption campaign faces a defining test — one that will measure not only the resolve of investigators but the political will of those in power.