Explainer: Is Zelensky implicated in Ukraine's largest corruption scandal, and what do the new tapes reveal?
From left: Timur Mindich, a businessman (Screenshot/Ukrainska Pravda), President Volodymyr Zelensky (Tom Nicholson/Getty Images), Rustem Umerov, secretary of the National Security and Defense Council of Ukraine (Maksym Kishka/Frontliner/Getty Images)
on GoogleAs a new round of leaked tapes surfaces in Ukraine's sweeping corruption scandal, one question stands at the center: Did President Volodymyr Zelensky know?
Alleged transcripts of the audio tapes were published by media outlet Ukrainska Pravda on April 28 and May 1 and by lawmakers Yaroslav Zheleznyak and Oleksiy Honcharenko on May 1.
The tapes are allegedly part of an investigation conducted by the National Anti-Corruption Bureau (NABU) of a $100 million corruption scheme centered around the state nuclear monopoly Energoatom.
The Energoatom probe, launched last year, is the biggest corruption investigation of Zelensky's tenure.
The new transcripts of the alleged calls between the culprits have them hint at the president's involvement. The corruption scandal may have political ramifications for Zelensky, if his role is confirmed, analysts say.
The Kyiv Independent explains what we know and what we don't, following the new round of revelations.
What is the Energoatom corruption probe?
The corruption probe centered around the state nuclear power company Energoatom became Ukraine's largest political scandal on record back in November, when the National Anti-Corruption Bureau published the first round of tapes where high-ranking officials and their acquaintances discussed large-scale kickbacks.
The alleged ringleader is Timur Mindich, a close associate of Zelensky and a co-owner of the president's Kvartal 95 production company. He fled to Israel in November.
Nine suspects have been charged in the case. Apart from Mindich, the suspects include former Deputy Prime Minister Oleksiy Chernyshov and ex-Justice Minister Herman Halushchenko, who served as energy minister earlier that year.
Furthermore, there are multiple alleged references to Zelensky's former Chief of Staff Andriy Yermak and a conversation allegedly featuring Rustem Umerov, secretary of the National Security and Defense Council and former defense minister.
The new round of tapes, obtained by journalists and lawmakers without the bureau's consent, adds details to the multi-million dollar scheme.
A central aspect of the new tapes is an alleged plot in which those who allegedly embezzled money from Energoatom contracts used the funds to finance the construction of luxury houses in the posh village of Kozyn, not far from Kyiv.
Suspects in the Energoatom case have allegedly given money to ex-Deputy Prime Minister Chernyshov for the construction of high-end houses near Kyiv, the Bihus.info investigative journalism project reported in November, citing audio tapes released by the bureau.
"What is most concerning is that, despite the public outcry, there has been no official response from the President's Office," Yaroslav Yurchyshyn, a lawmaker from the Holos opposition party, told the Kyiv Independent. "Those mentioned in the recordings should request to be suspended for the duration of the investigation."
Olena Shcherban, an expert at the Anti-Corruption Action Center, also argued that Zelensky "should have ensured a fully transparent investigation and the dismissal of everyone implicated."
"This is a matter of political responsibility, because it's clear we're talking about people trusted by the president — about him personally, about those he appointed to positions, and even those to whom he informally delegated power," she told the Kyiv Independent.
"It's obvious that neither Umerov nor anyone else would have listened to Mindich if they didn't understand that he was acting in line with Zelensky's will."
The President's Office declined to comment, and Yermak did not respond to requests for comment. Umerov denied the accusations of wrongdoing.
Is Zelensky implicated?
Allegations of Zelensky's involvement emerged due to a transcript of a discussion between Mindich and an unidentified woman named Natalia, apparently referring to the construction project in Kozyn.
Specifically, Mindich tells Natalia that Max Donets, identified by journalists as the head of Zelensky's personal security, is expected to arrive.
Natalia also mentions that a fence is being built between Mindich's house and "Vova's" house — a short form of the name Volodymyr that many interpreted as a reference to Zelensky.
According to a transcript of the tapes read by prosecutors at a court hearing last year, Zelensky also called Halushchenko during a conversation between the minister and Mindich. The president allegedly made the call after Mindich sent him a message.
If Zelensky's involvement is confirmed, the revelations could have a major legal and political impact.
An incumbent president cannot be investigated by Ukrainian law enforcement agencies but can be impeached based on evidence of wrongdoing. A former president can be investigated and charged.
Political analyst Volodymyr Fesenko told the Kyiv Independent that the new tapes could damage Zelensky's rating, but he expects the short-term effect to be minimal.
They could have a big impact in the long term if there are new charges in the Energoatom case and if Zelensky's role is confirmed by law enforcement, according to Fesenko. Then Zelensky might choose not to run in a post-war election, he argued.
Will Yermak be charged?
The new tapes also contain multiple alleged references to Yermak.
Yermak is under investigation in the Energoatom case but has not been charged yet. He resigned in November following searches at his premises by the bureau.
Natalia tells Mindich in the tapes that a house is being built for "Andriy" — a possible reference to Andriy Yermak.
A law enforcement source told the Kyiv Independent that one of the luxury houses in Kozyn, financed through the Energoatom corruption scheme, was meant for Yermak.
The tapes also appear to confirm previous Ukrainska Pravda reports that Vasyl Vesely, an aide to the state-owned Sense Bank's management, was a protégé of Yermak and had a lot of influence over the bank.
Vesely previously denied the allegations, and Sense Bank did not respond to a request for comment.
Vesely and Oleksandr Tsukerman, a suspect in the case, mention talking to "Khirurg" (Surgeon) in the alleged tapes several times while discussing Sense Bank. Vesely also says that Khirurg "needs him."
Oleksandr Abakumov, the detective in charge of the Energoatom case, said in March that Yermak is referred to in the NABU recordings as "Khirurg."
Vesely also allegedly tells Tsukerman that he needs to resolve some legal issues with the Ukrainian petrochemical company Karpatnaftokhim. Vesely's brother, Andriy, co-owns the company.
Ukrainska Pravda previously reported that Yermak allegedly influenced Karpatnaftokhim through Vasyl Vesely. Karpatnaftokhim did not respond to a request for comment.
The new revelations re-ignited a discussion on whether Yermak will be charged in the Energoatom case.
Many observers expected Yermak to be charged following the searches at his premises in November. However, no charges followed.
The bureau and its supporters argue that there is still not enough evidence to charge Yermak. But critics suspect foul play and accuse the bureau of reaching a behind-the-scenes deal with Zelensky, which the bureau denies.
Will Umerov be suspended or fired?
The tapes also provide more evidence of alleged links between Mindich and Umerov, the only official appearing on the tapes still in a position of power.
In the transcript, Mindich and Umerov allegedly discuss defense contracts, including drones and bulletproof vests, personnel changes, and the possible sale of a stake in drone maker Fire Point to foreign investors.
Mindich also tells Umerov that he was the most comfortable defense minister for him, compared to alternative candidates vying for the job.
Umerov was questioned by the bureau in the Energoatom case in November.
According to the charges brought against Mindich, he committed his alleged crimes by influencing Umerov and Halushchenko, a former energy and justice minister.
The charges state that Mindich pressured Umerov to conclude a contract with an Israeli company for the supply of bulletproof vests.
The supply contract was eventually canceled because Defense Ministry officials refused to accept low-quality bulletproof vests from the company.
On April 29, the Ukrainian Defense Ministry's anti-corruption watchdog called for suspending Umerov. The watchdog said that "the public has been presented with unverified but credible evidence of links" between Mindich and Umerov and that Umerov's actions could constitute "abuse of office and possible disclosure of state secrets."
There are also concerns that the new tapes could impact the peace talks between Ukraine, the U.S., and Russia. Umerov leads Ukraine's team in the said talks.
What is Fire Point's role?
The new tapes also appear to confirm links between Mindich and Fire Point.
The Kyiv Independent reported in August that Fire Point was the subject of a corruption probe, exploring its connections to Mindich, who was alleged to be its unofficial beneficiary. Fire Point denied its connection to Mindich.
The new tapes allegedly show Mindich complaining to Umerov about Fire Point's underfunding. The two were also reportedly discussing the sale of a 33% share in the company to foreign investors.
Umerov was allegedly asking Mindich how to approach decisions tied to Fire Point, asking him whether "it will suit us?" when discussing the sale.
The Defense Ministry's anti-corruption watchdog called for nationalizing Fire Point on April 29 following the new revelations.
"According to materials available to anti-corruption authorities, the former defense minister considers Tymur Mindich to be the de facto owner of Fire Point," the watchdog said. "All available data strongly suggests that Mindich is either one of the company's beneficial owners or its sole ultimate beneficiary."
Did Mindich influence government appointments?
The tapes also demonstrate Mindich's alleged influence on Cabinet changes.
In the new tapes, Mindich and Umerov discuss potential candidates for the defense minister opening, including Denys Shmyhal.
"It will just weaken you," Umerov allegedly tells Mindich. "It will be fucked up," he allegedly responds.
They also discuss potential replacements for Oksana Markarova, then Ukraine's ambassador to the U.S.
The new transcripts also contain an alleged conversation between Mindich and Zelensky's former aide, Serhiy Shefir, as well as alleged references to conversations with Zelensky's Deputy Chief of Staff, Oleh Tatarov. Neither responded to requests for comment.
Tatarov is highly controversial because he was charged with bribery in 2020, although the case has been obstructed by prosecutors and courts and closed.
It remains unsolved whether Mindich's opinion on government changes was taken into consideration.
Shmyhal eventually replaced Umerov as defense minister in July 2025.
