Investigation Unveils Timur Mindić’s Alleged Corruption in Ukraine’s Nuclear Sector
KYIV, Ukraine – Until recently, Timur Mindić was somewhat of an enigmatic figure in Ukraine, known but rarely discussed, operating quietly behind the scenes. His recent exposure tied to a significant embezzlement and kickback scandal involving the country’s nuclear power company has brought his influence into sharper focus.
Mindić’s connections to President Volodymyr Zelenskiy have raised alarm bells regarding his power within the lucrative energy sector. They were once business partners, which facilitated Mindić’s escalating influence since Zelenskiy’s administration began.
This week, Ukraine’s anti-corruption agency disclosed findings from a 15-month investigation that uncovered a staggering $100 million embezzlement scheme linked to senior officials in the state-run nuclear power industry. Mindić has been named as the alleged mastermind behind this plot, casting a spotlight on the extent of his sway.
Following these revelations, Mindić has reportedly fled the country, and legal actions against him may proceed without his presence. Additionally, two high-ranking ministers have stepped down amid the fallout.
Experts and activists assert that Mindić’s rise parallels his close connections with Zelenskiy and those in his inner circle. While the president has not been implicated in the investigation, he did acknowledge the findings and took measures to distance himself from Mindić after they became public.
“We now have some evidence of what we only heard in rumors,” noted Tetyana Shevchuk, an activist from Ukraine’s Anti-Corruption Action Center. “It turns out that Timur Mindić is indeed a shadow leader of the energy sector.”
Before Zelenskiy assumed office, Mindić, who is now 46, was just another wealthy player in the entertainment industry. He co-owns Zelenskiy’s production company, Kvartal 95, which was instrumental in the president’s rise as a comedic figure before he entered politics. After Zelenskiy was elected, he handed over his shares in the company to Mindić.
Despite an expanding business empire, Mindić has kept one foot in the entertainment world. Prior to the corruption investigation, he was involved in producing a YouTube comedy show called “Stadium Family,” which was promptly canceled following the scandal.
Local news reports suggest that Mindić is related to Leonid Mindić, who was arrested while trying to escape Ukraine and is accused of embezzling $16 million from a different power company.
The close bond between the president and Mindić is well documented. Zelenskiy used Mindić’s armored vehicles during the final stages of his 2019 campaign and celebrated his birthday at Mindić’s apartment during the pandemic. They even reside in the same building.
After Zelenskiy won the presidency, Mindić’s political connections grew stronger. He was previously a close associate of Ihor Kolomoisky, a powerful oligarch who initially supported Zelenskiy but fell out of favor with him in later years. In 2023, Kolomoisky faced charges of fraud and money laundering, leading to further complications for Mindić.
Once linked with Kolomoisky, Mindić has managed to emerge as a significant businessman with a diverse portfolio, engaging in agriculture and the nationalized SENSE bank. However, he is primarily known for his connection to the state energy company.
Activists argue that Mindić’s ascent to power would not have happened without his relationship with Zelenskiy. “Without those ties, Mindić wouldn’t have entered politics or gained power,” Shevchuk asserted. The situation is particularly troubling given the ongoing conflict and the critical nature of energy infrastructure at a time when many in Ukraine are enduring power shortages.
The evidence against Mindić includes a staggering 1,000 hours of wiretaps indicating his significant control over Herman Khrushenko, the energy minister from 2021 to 2025. Following the investigation’s release, Khrushenko resigned.
Although Mindić’s name does not often appear in official documents, investigators allege he orchestrated a network of supporters who pressured contractors at Energoatom, demanding kickbacks to bypass regulations. Illegal funds are believed to have been funneled through shell companies, benefiting Mindić and his associates.
These findings, compiled by Ukraine’s National Anti-Corruption Bureau (NABU) and the Special Prosecutor’s Office for Corruption (SAPO), will play a critical role in forthcoming legal actions. NABU is also probing Mindić’s dealings with Firepoint, a leading Ukrainian drone manufacturer, although the results of that investigation have yet to be disclosed. Firepoint has denied any illicit dealings with Mindić.
As Ukraine’s domestic drone industry rapidly evolves to meet urgent military needs, questions loom about whether Mindić might ultimately benefit from Firepoint’s innovations.
