The High Anti-Corruption Court of Ukraine has upheld a previous ruling to keep former Energy Minister Herman Halushchenko in custody as he faces allegations linked to a corruption case known as “Midas.” This decision was made on March 2, following an appeal by Halushchenko and his legal team.
As an alternative to detention, the court set a bail amount of 200 million hryvnias (approximately $5.4 million), which has not yet been paid. Halushchenko remains in custody, as the ruling is effective immediately and cannot be appealed further.
Halushchenko, who was detained while attempting to cross the border on February 15, has been accused of involvement in a scheme that allegedly siphoned off funds from Energoatom, Ukraine’s state nuclear energy company. The prosecution claims that he played a key role in this operation.
During the court proceedings, Halushchenko’s attorney, Volodymyr Vak, argued that his client is not the individual referred to by the codename “Sigizmund” in the case materials. Vak contended that there is no substantial evidence linking Halushchenko to this alias, suggesting that initial mistakes in identification by investigators should not be grounds for continued detention.
The prosecution has requested a much higher bail of 425 million hryvnias, citing Halushchenko’s significant role in the alleged corruption scheme. Prosecutor Serhiy Savytsky stated that evidence indicates Halushchenko was a crucial link in the criminal activities related to Energoatom.
According to the investigation, Halushchenko is accused of laundering approximately $12 million between 2021 and 2025, with a portion of these funds allegedly funneled through offshore companies. The prosecution claims that over $7.4 million was transferred to these companies, while nearly $4 million was withdrawn in cash in Switzerland.
Halushchenko has denied the allegations and has requested a change in his detention conditions, seeking either house arrest or a lower bail amount. He also addressed inquiries regarding his family’s finances, asserting that they have been living in rented accommodations since 2022 and that a godfather has partially funded his son’s education in Switzerland.
The “Midas” operation, launched by the National Anti-Corruption Bureau (NABU) in November 2025, involved extensive investigations into corruption within the energy sector, resulting in over 70 searches. Investigators allege that participants in the scheme received kickbacks amounting to 15% of Energoatom’s contract values.
As part of the ongoing investigations, several other individuals connected to the case have also been detained or placed under various forms of custody, with bail amounts set for some. The case has drawn significant public attention, highlighting issues of corruption within Ukraine’s government.
In summary, the legal proceedings against Halushchenko reflect broader concerns regarding corruption in Ukraine’s energy sector, with ongoing investigations likely to reveal further details about the alleged misconduct.
The High Anti-Corruption Court of Ukraine has confirmed the detention of former Energy Minister Herman Halushchenko amid serious corruption allegations linked to the Energoatom case. The court's decision highlights ongoing efforts to address corruption within the country's energy sector.