Explainer: How Ukraine’s biggest corruption scheme persisted despite all odds
Ukraine's largest corruption scandal in years came to light last year with a wave of arrests, sanctions, and a political shakeup. New revelations over the past few weeks suggest that produced little result. Last November, Ukraine’s anti-corruption authorities' Operation Midas uncovered a $100 million money-laundering and bribery scheme that implicated high-ranking officials and associates close…
According to prosecutors, a $100 million money-laundering and bribery scheme exposed last year's largest corruption scandal in Ukraine. The investigation centered on Timur Mindich, a close associate of President Volodymyr Zelensky and co-owner of his Kvartal 95 production company. Mindich fled the country shortly before his arrest and was sanctioned by Zelensky.
Other high-ranking officials involved in the scheme include then-Chief of Staff Andriy Yermak and former deputy head of the presidential office, Iryna Mudra. New evidence suggests that Mindich's influence network was more extensive than initially thought, reaching into courts and law enforcement. Mindich retained significant control over a state-owned bank, Sense Bank, even after his flight and despite being sanctioned.
Mudra allegedly led the nomination committee for independent members of Sense Bank's board in May 2025 and played a role in influencing board appointments.
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