The High Anti-Corruption Court arrested former Energy Minister Galushchenko with bail set at UAH 200 million
Investigating judge Viktor Nogachevsky announced the decision to arrest Galushchenko until 15 April 2026 inclusive. An alternative bail of 200 million hryvnia has been set. If bail is posted, the suspect is required to appear before NABU detectives upon first request, not to leave Kyiv and the Kyiv region without permission, to refrain from communicating with other figures involved in the proceedings, to surrender his foreign passports, and to wear an electronic bracelet.
Prosecutor Ivan Dyachuk of the Specialised Anti-Corruption Prosecutor's Office insisted on bail of 425 million 984 thousand hryvnias. According to him, the former minister faces 7 to 12 years in prison with confiscation of property. Among the risks, the prosecutor cited the possibility of absconding, in particular due to 58 trips abroad during martial law.
During the hearing, Galushchenko claimed that his detention was illegal and that his rights had been violated. According to him, at the time of his arrest on 15 February, he was on his way to Warsaw and had no intention of leaving Ukraine. "If I wanted to escape, believe me, I would have escaped," the former minister said.
Galushchenko was notified of the suspicion on 16 February as part of a case that law enforcement officials call "Midas." According to the investigation, in February 2021, a fund was registered on the island of Anguilla with the aim of attracting about $100 million in investments. It was headed by a citizen of the Seychelles and Saint Kitts and Nevis who, according to the investigation, provided money laundering services on a professional basis.
Investigators established that two companies integrated into a trust registered in Saint Kitts and Nevis were created in the Marshall Islands to conceal the former minister's involvement. Galushchenko's ex-wife and four children were registered as beneficiaries. These structures purchased shares in the fund, and the funds were transferred to accounts in three Swiss banks.
Law enforcement officials claim that during Galushchenko's tenure, through a trusted person known as "Rocket," the criminal organisation received more than $112 million in cash from illegal activities in the energy sector. Some of the funds were legalised through cryptocurrency and other financial instruments.
According to the investigation, more than $7.4 million was transferred to the fund's accounts, which were managed by the former minister's family. Another $1.3 million Swiss francs and €2.4 million were issued in cash and transferred to the family in Switzerland. Some of the money was spent on educating children at prestigious Swiss institutions, and some was placed in deposits.
As part of the investigation, NABU is cooperating with the competent authorities of 15 countries.
