“The authors of the website Mindichgate, which recently appeared in the Ukrainian information space, created a detailed map of connections with Timur Mindich. About three dozen officials, politicians and businessmen: surnames, positions, official contacts, political roles – everything is carefully collected and laid out for public viewing. However, there is still a noticeable gap in the scheme. The card is missing the name of the business owner, through which”, — write on: ua.news
The authors of the website Mindichgate, which recently appeared in the Ukrainian information space, created a detailed map of connections with Timur Mindich. About three dozen officials, politicians and businessmen: surnames, positions, official contacts, political roles – everything is carefully collected and laid out for public viewing.
However, there is still a noticeable gap in the scheme. The map lacks the name of the owner of the business through which Mindich’s billions of financial flows probably flow. We are talking about the pharmaceutical empire of Ihor Chervonenko – a business that, based on its turnover, offshore structure and history of interaction with the authorities, looks no less influential than most of the people already involved in the scheme.
That’s why UA.News journalists remind that and who connects Timur Mindich with Igor Chervonenko.
Empire Structure: Where’s the Money?
The key holding in Chervonenko’s business is Pharmastor LLC, whose revenue for 2024 amounted to UAH 4.24 billion. It was this company that became the “mother” for a number of well-known brands to Ukrainians:
- “Good Day Pharmacy” — UAH 1.43 billion;
- “Zirka Pharmaceutika” — UAH 571 million;
- MK “IRIS” — UAH 509 million.
Almost 90% of the authorized capital of “Pharmaster” belongs to the Cypriot FARMINVEST HOLDINGS LIMITED. It is in the offshore corridors of Limassol, according to UA.News sources, that real control over assets is concentrated. According to the same information, more than 30% of offshore assets are related to structures close to Timur Mindich.
Rebbe Rutman is the architect of connections
The question of how Ihor Chervonenko, the owner of the pharmaceutical empire, got together with Timur Mindich also has an answer. According to UA.News sources, a key role in dating played back Raphael Dov Ber Rutman, Chabad rabbi, executive chairman of the Federation of Jewish Communities.
It was he who introduced the Chervonenko brothers to Mindich. The motive: the business needed to get rid of the pressure of law enforcement officers, and Yevhen Chervonenko (Ihor Chervonenko’s older brother) needed to get out of the pressure of sanctions. A share in the pharmaceutical business was probably the payment for the resolved issue.
Scheme for 2 billion: an “intellectual” classic
The chain “Apteka Dobrogo dnya” not only sells medicines to Ukrainians, but also pays royalties for intellectual property. In May 2025, the Pechersk District Prosecutor’s Office opened criminal proceedings under Part 3 of Art. 209 of the Criminal Code of Ukraine (laundering of property obtained by crime).
The figurehead of the criminal proceedings may be the company “PHARMASTOR” LLC. The illegal withdrawal of UAH 2 billion from Ukraine is being investigated. by transferring funds to SKILL TRADE SP offices. Z OO and KVIK VENT OÜ.
Funds received from pharmaceutical enterprises were transferred for “the alleged use of intellectual property objects, in particular royalties and other license payments.”
According to the version of the investigation, there were no real rights behind these payments – it was about the channel of legalization of funds and their further withdrawal.
Real estate and lifestyle
Ihor Chervonenko himself owns real estate in the very center of Kyiv — two apartments on Volodymyrska Street, across from St. Sophia Cathedral (Ihor Alfredovych is apparently registered at these addresses).
In addition, he probably owns an apartment on Lesya Ukrainka Boulevard (45.5 m²) and luxurious apartments on Velyka Zhytomyrska (344 m²).
UA.News journalists prepared an official request to Ihor Chervonenko with a list of questions to find out the details of Mindich’s share in the pharmacy business and the nature of their relationship. Among other things, they also asked if there was a trip by Chervonenko to Herzliya (Israel), DAN ACCADIA HERZLIYA hotel to celebrate Timur Mindich’s birthday on September 19.
In a few days, the editors received a response from the representative of Igor Chervonenko, the lawyer of Iryna Kostenko. The lawyer defined the UA.News request as an “information vinaigrette” designed to discredit her client.
Namely, focusing exclusively on publication “Mindich and Chervonenko’s pharmacy empire: a loud insider about another partnership “friend of the president”, called it “negative and discrediting information that has a devastating effect on his (Chervonenko’s – Ed.) business reputation and causes significant material damage.”
We will remind you, Ihor Chervonenko is the ultimate beneficiary and controls one of the largest pharmaceutical groups in Ukraine, of which it is a key company “PHARMASTOR” LLC . Chervonenko’s share in “PHARMASTOR” is 69.13%, while the main contribution to the statutory fund (64 million 440 thousand UAH or 89.50%) belongs to the Cypriot ZAKzOV “Pharminvest Holdings Limited”.
Earlier, as it happened is known UA.News from own sources, Mindich owns a share in the pharmaceutical business Chervonenko, which combines one of the most influential “shadow” businessmen of the country and a key player in the highly regulated farm market.
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