Ukrainian Figure Linked to Embezzlement Scandal
KYIV, Ukraine — Timur Mindić has come into the spotlight due to a significant embezzlement and kickback scandal involving Ukraine’s state-owned nuclear energy enterprise. Although he was previously a somewhat obscure individual, his influence in navigating various deals behind the scenes has become a topic of concern.
Many worry about the extent of Mindić’s influence in this vital sector, especially given his connections to President Volodymyr Zelenskiy. The two have a history as business partners, and Mindić’s prominence grew alongside Zelenskiy’s presidency.
This week, Ukraine’s anti-corruption watchdog unveiled the results of a 15-month investigation into a $100 million embezzlement scheme involving high-ranking government officials and the state-run nuclear power company. Mindić is accused of being the mastermind behind this scheme, exposing the depth of his influence.
As a result, Mindić has reportedly fled the country, and proceedings against him may be conducted in his absence. Additionally, two government ministers have stepped down in light of the allegations.
Officials, experts, and activists in Ukraine suggest that Mindić’s rise is closely connected to his close relationships with the president and Zelenskiy’s inner circle. While the president was not implicated in the investigation, he did take action against Mindić following its revelations, endorsing the work of anti-corruption agencies.
“We now have some evidence of what we only heard in rumors,” stated Tetyana Shevchuk, an activist with the Ukrainian Anti-Corruption Action Center. “We’ve long suspected that Timur Mindić is the shadow ruler of the energy sector.”
Entertainment Mogul to Political Figure
Before Zelenskiy assumed office, Mindić, 46, was among several affluent Ukrainian entertainment entrepreneurs. He co-owned Zelenskiy’s production company, Kvartal 95, which was instrumental in the president’s rise to fame. After Zelenskiy became president, he handed his shares in the company to a partner.
Despite branching out into various business ventures, Mindić has still maintained ties with the entertainment industry. Up until the recent investigation, he was involved with a YouTube comedy show, “Stadium Family.” Following the scandal, the show’s owners decided to discontinue it.
Reports indicate that he is also related to Leonid Mindić, who was arrested while attempting to leave the country in June and faces charges of embezzling $16 million from a power firm.
Connections to Zelenskiy
The friendship between Zelenskiy and Mindić has been well-documented. Notable moments include the president using Mindić’s armored vehicle during the final sprint of his 2019 presidential campaign and celebrating a birthday at his apartment amid the pandemic. The two reside in the same building.
Following Zelenskiy’s election victory, Mindić’s political connections grew stronger. He was also closely affiliated with Ihor Kolomoisky, a wealthy oligarch who backed Zelenskiy. However, Zelenskiy later distanced himself from Kolomoisky, who was arrested in 2023 on fraud and money laundering charges.
As Kolomoisky’s enterprises shifted, Mindić appeared as a beneficiary of various businesses, evolving from an oligarch to a well-known businessman. His interests extend to agriculture and a nationalized bank, but he’s frequently associated with the state energy sector. Activists believe his ascent would have been impossible without his ties to Zelenskiy.
Allegations of Control
The accusations against Mindić are supported by roughly 1,000 hours of wiretap recordings, which reveal his considerable influence over Herman Khrushenko, who served as Ukraine’s energy minister from 2021 to 2025. Khrushenko resigned after the investigation became public.
While Mindić is not always explicitly named as a beneficiary in formal documents, investigators allege that he managed a network compelling contractors at the state-run nuclear company Energoatom to pay kickbacks of up to 15% to expedite processes.
Allegations also state that illegal funds were funneled through shell companies directly to Mindić and his associates. The evidence gathered by Ukraine’s National Anti-Corruption Bureau (NABU) and the Special Prosecutor’s Office for Corruption (SAPO) will be key in any forthcoming legal actions.
Involvement with Drone Manufacturer
NABU is currently probing Mindić’s potential dealings with Firepoint, Ukraine’s leading drone manufacturer, although findings from this investigation are still pending. Firepoint, which develops high-stakes drones capable of penetrating Russian territory, has denied any wrongdoing linked to Mindić.
The domestic drone sector has rapidly advanced during wartime, evolving from a niche market into a vital technological asset. Numerous local firms are now innovating drones for military applications, and NABU’s inquiry seeks to determine whether Mindić stands as the ultimate beneficiary of these endeavors.
