Former energy minister Halushchenko served notice of suspicion in Midas case
Ukraine's former energy minister Herman Halushchenko has been formally issued a notice of suspicion in connection with the Midas case.
Source: National Anti-Corruption Bureau of Ukraine (NABU)
Details: Halushchenko has been accused under Article 255.2 (participation in a criminal organisation) and Article 209.3 of the Criminal Code of Ukraine (legalisation of proceeds from crime).
Investigators revealed that a fund had been registered in Anguilla, a self-governing UK overseas territory, in February 2021 on the initiative of members of the criminal organisation linked to the Midas case. The fund aimed to attract around US$100 million in investments.
The fund was headed by a long-time associate of the criminal group, a citizen of the Seychelles and Saint Kitts and Nevis, who professionally provided services for laundering money obtained illegally.
Reports indicated that Halushchenko's family had been among the fund's "investors".
Quote from NABU: "To conceal his involvement, two companies were set up in the Marshall Islands, integrated into a trust structure registered in Saint Kitts and Nevis. The companies listed the former spouse and four children of the senior official as beneficiaries.
These companies became 'investors' in the fund (by purchasing its shares) and members of the criminal organisation began transferring funds to the fund's accounts in three Swiss banks on behalf of the suspect."
Details: Investigators reported that during Halushchenko's time in office, over US$112 million in cash had been obtained illegally from the energy sector through his trusted associate known as Rocket (former advisor to the energy minister Ihor Myroniuk).
The funds were laundered using various financial instruments, including cryptocurrency and investments in the fund.
So far, over US$7.4 million has been transferred to the fund accounts managed by Halushchenko's family.
An additional CHF 1.3 million (about US$1.69 million) and €2.4 million were given in cash or directly transferred to the former minister's family in Switzerland.
Part of the money was spent on children's tuition at prestigious Swiss schools and deposited into the former spouse's accounts.
The remainder was placed in a deposit, generating additional income for the family to use as they wished.
According to Ukrainska Pravda sources in political circles, NABU and the Special Anti-Corruption Prosecutor's Office (SAPO) detained Halushchenko on the night of 14-15 February while he attempted to cross the border.
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Background:
- On the morning of 10 November, it was revealed that NABU detectives had conducted searches at the homes of Tymur Mindich and Justice Minister Herman Halushchenko (who was then suspended on 12 November). Ukrainska Pravda sources also reported that Mindich left Ukraine hours before the searches.
- That same day, NABU reported that they had exposed a large-scale corruption scheme in the energy sector and released audio recordings.
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