Prosecutors are seeking Hr.425 million (approximately $9.82 million) in bail for former Ukrainian Energy Minister Herman Halushchenko in connection with the so-called “Midas” corruption case.
The Specialized Anti-Corruption Prosecutor’s Office (SAPO) will ask the court to place Halushchenko in pre-trial detention with the alternative of bail set at Hr.425 million ($9.82 million), SAPO spokesperson Olha Postoliuk said in a comment to RBC-Ukraine on Tuesday, Feb. 17.
Later on Tuesday, the High Anti-Corruption Court (HACC) is scheduled to consider the motion to apply a preventive measure against the former minister. The hearing is set for 12:30 p.m.
On Monday, Ukrainian authorities said Halushchenko had been formally notified that he is under investigation as part of an alleged large-scale money-laundering scheme.
The National Anti-Corruption Bureau (NABU) and SAPO allege that Halushchenko, who served as energy minister from 2021 to 2025, participated in a criminal organization and laundered illicit proceeds through offshore structures and an investment fund linked to his family.
According to investigators, a fund was established in 2021 in Anguilla, a British Overseas Territory, with the stated aim of attracting around $100 million in investments. The structure reportedly included companies registered in the Marshall Islands, with beneficiaries allegedly including the former minister’s ex-wife and children.
Law enforcement officials say the organization handled more than $112 million, some of which was legalized through financial instruments, including cryptocurrency and investments in the fund. More than $7.4 million, along with €2.4 million and 1.3 million Swiss francs, was allegedly transferred to accounts connected to the former minister’s family, including funds reportedly used to pay for children’s education abroad.
NABU said on Sunday that detectives detained the former energy minister as he attempted to leave the country. The investigation is ongoing, with Ukrainian authorities cooperating with law enforcement agencies in 15 countries.
November 2025 energy scandal
In November 2025, NABU exposed a large-scale corruption scheme at Energoatom – Ukraine’s largest energy producer – allegedly orchestrated by Timur Mindich, a former business partner of President Volodymyr Zelensky. Investigators say that the group influenced decisions in the state energy sector, particularly at JSC Energoatom, and demanded illegal benefits of 10-15% from contract counterparties.
Among those implicated are officials and businessmen, including National Commission member Serhiy Pushkar, former Energoatom security director Dmytro Basov, and former State Property Fund deputy head Ihor Myronyuk.
The investigation alleges the participants manipulated personnel decisions, procurement, and financial transactions within the enterprise.
Halushchenko was also named in the case. Parliament dismissed him from his post, and he was reportedly interrogated by NABU on Nov. 21, 2025.
He was detained on Sunday, while attempting to cross the country’s border. According to the Ukrainska Pravda outlet, Halushchenko was stopped on a train after border authorities acted on requests from NABU and SAPO.