Once a shadowy dealmaker, former Zelenskyy associate is accused in Ukrainian corruption scandal

The full extent of that influence was exposed this week when Ukraine’s anti-corruption watchdogs released the findings of a 15-month investigation into a $100 million embezzlement scheme involving top officials and Ukraine’s state nuclear power company, accusing Mindich of being the mastermind behind the plot.

Mindich has fled the country, with any criminal proceedings against him likely to be carried out in absentia. Two top government ministers have resigned.

Ukrainian officials, experts and activists contend Mindich’s rise to power is closely tied to his privileged relationship with the president and Zelenskyy's inner circle. The investigation does not implicate Zelenskyy himself, and he has openly supported the work of anti-corruption agencies while sanctioning Mindich once its findings were revealed.

“What we were hearing only as rumors now has some evidence,” said activist Tetiana Shevchuk of Ukraine’s Anti-Corruption Action Center. “For a long time we have heard that Tymur Mindich is a shadow controller of the energy sector.”

The entertainment tycoon

Until Zelenskyy’s presidency, Mindich, 46, was just one among many wealthy Ukrainian entertainment industry entrepreneurs.

Mindich was a co-owner of Zelenskyy's production company Kvartal 95, named for the comedy troupe that helped catapult the Ukrainian president to fame as a comedian before he entered politics. Zelenskyy transferred his stake in the company to his partners after he was elected.

Despite expanding his business portfolio since Zelenskyy’s election, Mindich maintained ties to the entertainment world. Until the corruption probe was exposed this week, he was a producer of the comedy show “Stadium Family” on YouTube. In light of the scandal and his tarnished reputation, the show’s owners shut it down this week.

He is also a relative of Leonid Mindich, who was arrested by Ukraine’s anti-corruption authorities in June when he was trying to flee the country, according to local reports. He was charged with embezzling $16 million from an electric power company.

Rise under Zelenskyy

Zelenskyy and Mindich’s close friendship is documented. The president used Mindich’s armored car during the final stretch of his presidential campaign in 2019. In January 2021, Zelenskyy celebrated his birthday in Mindich's apartment during COVID. The two own apartments in the same building.

After Zelenskyy’s 2019 presidential win, Mindich's political ties grew.

He was a close business associate of Ukrainian oligarch Ihor Kolomoysky, who backed Zelenskyy’s presidential campaign. Zelenskyy later cut ties with the billionaire and in 2023, Kolomoysky was arrested by Ukrainian security services on fraud and money-laundering charges.

Businesses once associated with Kolomoysky began claiming that Mindich was now their beneficiary. “Gradually, in three years, he became not an oligarch, but a known businessman with an interest in a lot of businesses,” said Shevchuk, the anti-corruption activist.

They include agricultural enterprises and the nationalized SENSE Bank. But, his name appeared most often in association with state energy companies, according to current and former Ukrainian officials, activists and experts.

Ukrainian activists contend that without his close association with Zelenskyy, it would have been impossible for Mindich to cement his rise.

Mindich “would have never been in politics, never been in a position of power or business without his connection to Zelenskyy, and this magnitude is worse because it’s happening during war time, and it is related to energy infrastructure at a time when Ukrainians don’t have electricity in their homes,” Shevchuk said.

An alleged mastermind

The case against Mindich rests on 1,000 hours of wiretaps revealing his significant influence over Herman Haluschenko, Ukraine’s energy minister from 2021-2025, until he was named justice minister in July. Haluschenko resigned that post after the investigation became public this week.

While rarely named as a direct beneficiary in official documents, investigators cite extensive wiretapping evidence they allege shows Mindich exerted control over a network of loyalists who pressured contractors for Energoatom, the state nuclear power company, demanding kickbacks of up to 15% to bypass bureaucratic obstacles and do business smoothly.

Investigators allege the illicit funds were siphoned off, laundered through shell companies and funneled into Mindich's pockets and those of his associates.

These findings collected by the National Anti-Corruption Bureau of Ukraine, known as NABU, and Specialized Anti-Corruption Prosecutor’s Office, or SAPO will be central to any future court proceedings.

A possible drone dealer

NABU is also conducting an investigation into Mindich’s alleged dealings with Ukraine’s top drone manufacturer, Fire Point, but has not yet revealed its findings. Fire Point, which develops deep-strike drones capable of hitting targets inside Russian territory, has denied any such dealings.

Ukraine’s domestic drone industry has seen a swift and remarkable rise, fueled by wartime innovation and urgent military demands. What was once a niche sector quickly evolved into a formidable technological force within just a few years.

Fire Point is among local companies and startups that have rapidly developed advanced drones for reconnaissance, surveillance and combat operations, supported by growing investments. The NABU investigation is looking into whether Mindich is the ultimate beneficiary of the company.