“Midas”: Mindich and Umerov discussed where to allocate funds from “Project 23”
New footage released following Operation Midas reveals that sanctioned businessman Timur Mindich discussed the so-called “Project 23” not only with Shugerman and other participants in the scheme, but also with former Ukrainian Defense Minister Rustem Umerov.
Ukrainian MP Yaroslav Zheleznyak reported this on his channel.
It is worth recalling that, according to a journalistic investigation, “Project 23” was either a joint budget for the scheme’s participants or a fund used to finance necessary expenses. The individuals implicated in Operation Midas appeared visibly nervous when speaking with journalists and being asked relevant questions.
In particular, Zuckerman immediately denied any involvement in such projects when asked, but inquired where the journalists had obtained such information and asked to see the available evidence.
It has now come to light that on July 8, 2025, Umerov discussed the very same “Project 23” with Mindich.
U: — One question about 23. Look, I’m two or three times more comfortable.
M: — Two.
U: — Well, remember, you said back then: no need for “Rheinmetall.”
M: — And no one else, no one.
U: — Right.
M: — They want Ukrainians to be there, don’t they?
U: — Right.
M: — I told him, and he said: “Well, make a decision.”
U: — Maybe, look, there’s one option here.
M: — But there’s one problem here.
U: — What is it?
M: — What if he comes in…
U: — He’ll say it was me.
M: — Well, of course.
U: — There’s this option… (gives the code). We dial it, right?
M: — Yes.
U: — Is it registered under you? Or should we put it under the business? You handle the joint venture, but you’ll represent the interests.
M: — No, that won’t work.
U: — Is he afraid?
M: — You know how much money he has… Well, how much do you think he has?
U: — 200?
M: — Cash, cash… Not to mention apartments, cars, houses. Why does he need that?
U: — Where does he get it from?
M: — From here… three from here, five from there… He doesn’t have many expenses… He doesn’t spend… He gives his driver $300, and that’s probably on the government’s dime…
Thus, Umerov and Mindich were likely discussing a person involved in government activities who possesses significant wealth and receives income from various sources.
In the same conversation, Mindich and Umerov assessed Svyrydenko’s candidacy for the post of Prime Minister of Ukraine.
We previously reported that on July 8, 2025, then-Ukrainian Defense Minister Rustem Umerov and sanctioned businessman Timur Mindich discussed personnel matters and political influence in the country. Specifically, they discussed who would become the new defense minister and what new position then-Prime Minister Denys Shmyhal would assume.
Recall that six months ago, detectives from the National Anti-Corruption Bureau and the Specialized Anti-Corruption Prosecutor’s Office reported the exposure of large-scale embezzlement in the energy sector following Operation “Midas.” The case was dubbed “Mindichgate” because audio recordings from wiretaps in the apartment of the organizer of this corruption scheme—Timur Mindich, a businessman and close friend of President Volodymyr Zelenskyy—were made public.
This new disclosure by UP could significantly expand the circle of suspects and the embezzlement schemes linked to them. In particular, the recorded conversations may involve the former head of the Ministry of Defense and current Secretary of the National Security and Defense Council, Rustem Umerov.
Timur Mindich remains abroad, while in Kyiv, the business of his wife, Kateryna Verber—founder of Kameron, a company operating offline and online stores that are official distributors of the Dolce & Gabbana, Saint Laurent, and Balmain brands—continues to operate. There is also a Russian connection here: Kateryna Verber is the daughter of the recently deceased fashion director of Moscow’s TSUM, Alla Verber.
Information has also emerged regarding possible “shady dealings” involving Timur Mindich and the ultimate beneficiaries of one of Ukraine’s largest pharmaceutical groups, Farmastor LLC. The company is the parent holding company (founder) of a dozen other enterprises with very substantial turnover: “Apteka Dobrogo Dnya” LLC, “Zirka Farmatsevtiki” LLC, and others. The key owner is Ihor Chervonenko, whose brother, Yevhen Chervonenko, has been included on the National Security and Defense Council’s sanctions lists. The brothers had the opportunity to meet with Mindich and, according to some reports, secured a reduction in law enforcement pressure on their business in exchange for transferring a stake in their pharmaceutical business.
