Herman Halushchenko, who previously served as Ukraine’s Minister of Energy. Photo from his Facebook account.
Former Ukrainian Energy Minister Herman Halushchenko has been notified of suspicion in connection with the “Midas” case, accused of large-scale money laundering. He was detained while attempting to cross the border.
Source: NABU
Details: Halushchenko is suspected of participating in a criminal organization (Part 2, Article 255) and laundering proceeds of crime (Part 3, Article 209 of the Criminal Code of Ukraine).
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According to investigators, in February 2021, a fund was registered on the island of Anguilla, a British Overseas Territory, at the initiative of individuals involved in the “Midas” case. The fund aimed to attract approximately $100 million in “investment.”
The fund was headed by a long-time acquaintance of those involved in the criminal organization, a citizen of the Seychelles and Saint Kitts and Nevis, who provided money laundering services professionally.
Authorities allege that the Halushchenko family was among the fund’s “investors.”
NABU statement: “To conceal his involvement, two companies were established on the Marshall Islands, integrated into the structure of a trust registered in Saint Kitts and Nevis. The beneficial owners were designated as the former minister’s ex-wife and four children.
These companies became ‘investors’ in the fund (by purchasing its shares), and individuals involved in the criminal organization began transferring funds to accounts held by the fund in three Swiss banks on behalf of the suspect.”
Details: The investigation indicates that during Halushchenko’s tenure, the criminal organization received more than $112 million in cash from illegal activities in the energy sector through his trusted associate, known as “Rocket” (former Energy Ministry advisor Igor Mironyuk – ed).
These funds were laundered through various financial instruments, including cryptocurrency and “investment” in the fund.
To date, more than $7.4 million has been transferred to accounts held by the fund and managed by the Halushchenko family.
An additional 1.3 million Swiss francs and 2.4 million euros were issued in cash and transferred directly to the former minister’s family in Switzerland.
A portion of these funds was used to pay for the education of the minister’s children at prestigious institutions in Switzerland and was placed in accounts held by his ex-wife.
The remainder was deposited, generating additional income for the family and used for personal expenses.
Sources in political circles reported that Halushchenko was detained on the night of February 15 while attempting to cross the border, according to reports.
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“MindyGate. What’s Happening in Power a Week After the Anti-Corruption ‘Earthquake’”
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