KYIV – In the heart of Ukraine’s political and industrial landscape, a name now echoes with scandal and intrigue: Tymur Mindich. Once an elusive figure, Mindich operated from the shadows, orchestrating deals with a subtle yet potent influence. His presence was more felt than seen, known to insiders but seldom mentioned openly.
His ascent in Ukraine’s lucrative industries, particularly in the energy sector, was often linked to his close ties with President Volodymyr Zelenskyy. Their past business partnership provided Mindich with a gateway to power, expanding his reach significantly during Zelenskyy’s presidency.
This week, the veil was lifted on Mindich’s activities when Ukraine’s anti-corruption agencies unveiled a comprehensive report. After a thorough 15-month investigation, they revealed a staggering $100 million embezzlement scheme involving top officials and the state nuclear energy company, with Mindich identified as the scheme’s architect.
Mindich has since fled Ukraine, leaving the prospect of legal proceedings against him to proceed in his absence. This scandal has already claimed political casualties, with two prominent government ministers stepping down.
Observers and activists in Ukraine argue that Mindich’s rise to power was inextricably linked to his relationship with the president and Zelenskyy’s influential circle. “We’ve known of his sway through whispers; now we have concrete evidence,” remarked Tetiana Shevchuk from Ukraine’s Anti-Corruption Action Center. “For a long time, Tymur Mindich has been suspected of being the puppet master of the energy sector.”
“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 watchdogs 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 wire-tapping 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.
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