Court orders Galushchenko held in custody with UAH 200M bail option

The ruling was announced by investigating judge Viktor Nohachevskyi, Ukrinform reports.

"To apply a preventive measure in the form of detention to the suspect German Borysovych Galushchenko, born on May 1, 1973, for a period of 60 days from the date of his actual detention, that is, until April 15, 2026 inclusive. To set bail for the suspect German Borysovych Galushchenko, born on May 1, 1973, in the amount of UAH 200 million," the judge said.

If bail is posted, the court obliges Galushchenko to appear before detectives of the National Anti-Corruption Bureau of Ukraine upon first request, not leave Kyiv or the Kyiv region without permission, refrain from communicating with other suspects in the case, surrender his foreign travel passports, and wear an electronic monitoring device.

During the hearing, prosecutor Ivan Diachuk of the Specialized Anti-Corruption Prosecutor's Office requested detention with an alternative bail of UAH 425.984 million and mandatory electronic monitoring. According to the prosecutor, Galushchenko faces 7 to 12 years in prison with confiscation of property.

The prosecution argued that the risk of absconding was supported by the fact that during martial law Galushchenko left Ukraine 58 times.

Galushchenko, in turn, stated in court that his detention was unlawful and claimed he was held without proper legal grounds and in violation of human rights. He said that the court had partially confirmed the illegality of his detention the day before. Together with his lawyers, he is preparing further legal steps.

"If I had wanted to flee, believe me, I would have fled," the former minister said.

He stated that at the time of his detention on February 15, he was heading to Warsaw and did not intend to leave Ukraine permanently. Investigators, however, cited the trip as one of the grounds for holding him in custody.

On February 16, Galushchenko was formally notified of suspicion in the so-called "Midas" case.

According to the investigation, in February 2021, a fund was registered on the island of Anguilla (a self-governing British Overseas Territory) at the initiative of members of a criminal organization exposed by NABU and SAPO in November 2025. The fund was intended to attract approximately $100 million in "investments."

The fund was headed by a long-time associate of the organization's members, a citizen of Seychelles and Saint Kitts and Nevis, who allegedly provided professional money-laundering services. Among the "investors" was the family of the former minister.

Investigators state that two companies were established in the Marshall Islands and integrated into a trust registered in Saint Kitts and Nevis. The beneficial owners were listed as Galushchenko's former wife and four children. These companies became "investors" in the fund through share purchases, while members of the criminal organization allegedly transferred funds to the fund's accounts in three Swiss banks in his interest.

Law enforcement agencies report that during the suspect's tenure, through a trusted intermediary known as "Rocket," the organization received over $112 million in cash from illicit activities in the energy sector. The funds were laundered through various financial instruments, including cryptocurrency and investments in the fund.

More than $7.4 million was reportedly transferred to the fund's accounts controlled by the former minister's family. Additionally, over 1.3 million Swiss francs and 2.4 million euros were issued in cash and transferred directly to the family in Switzerland.

Part of the funds was used to pay for the children's education at prestigious Swiss institutions, while the rest was placed on deposit accounts generating additional income for the family.

The investigation is ongoing. Within the framework of the probe, NABU is cooperating with authorities in 15 countries.

On November 10, 2025, NABU announced a special operation uncovering large-scale corruption in the energy sector, including influence schemes targeting strategic state enterprises such as Energoatom.