Zelensky ally Mindich expands his clout in government, business, investigative journalists claim

President Volodymyr Zelensky's former business partner Timur Mindich has dramatically increased his clout in recent years, according to an investigation by the media outlet Ukrainska Pravda published on Nov. 6.

Mindich, a co-owner of the president's Kvartal 95 production company, was not available for comment, while the president's press service did not respond to requests for comment.

In recent months, Mindich has been in the spotlight, with the National Anti-Corruption Bureau (NABU) looking into the businessman's activity.

According to the Kyiv Independent sources in law enforcement, the investigation into Mindich was allegedly one of the factors that led to an attempt by the authorities to eliminate the Anti-Corruption Bureau's independence back in July.

Zelensky celebrated his birthday in Mindich's apartment in 2021, according to the Schemes investigative journalism project. But the former partner's influence allegedly peaked later — in 2024-2025, according to Ukrainska Pravda.

Mindich was looked into, among other people, due to his alleged connections to drone producer Firepoint, sources previously told the Kyiv Independent, citing a NABU investigation into the company. Firepoint has denied having any links to Mindich.

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The Kyiv IndependentOleksiy Sorokin

After the information on alleged links between Mindich and Firepoint was published in August, a stake in the firm was sold to a Saudi company in an effort to avoid allegations that Mindich is the real owner, sources cited by Ukrainska Pravda said.

According to Ukrainska Pravda, Mindich also allegedly influences the banking industry, specifically through the nationalized Sense Bank. The bank did not respond to a request for comment.

Another industry where Mindich allegedly has interests is energy.

In June, the NABU arrested his relative Leonid Mindich when he was trying to flee abroad, according to Ukrainska Pravda. He was charged with embezzling $16 million from the electric power company Kharkivoblenergo.

The company did not respond to a request for comment.

Meanwhile, opposition lawmaker Yaroslav Zheleznyak claimed in April that the NABU was investigating Mindich in a case into a Hr 2 billion ($48 million) embezzlement scheme at the Odesa Portside Plant, a fertilizer producer. The NABU said it could not comment on the report, while the plant did not respond to a request for comment.

Oleksandr Horbunenko, one of the suspects in the investigation, fled to the U.S. in 2022 and is currently being tried in a money laundering case there, Ukrainska Pravda reported.

The NABU and the Special Anti-Corruption Prosecutor's Office (SAPO) mentioned Mindich in their requests sent to the U.S. in an effort to question Horbunenko, according to Ukrainska Pravda.

In October, Zheleznyak also published an investigation about Mindich's alleged diamond business. He cited the companies' sites and official registers.

Mindich co-owns Ukrainian diamond producer SOLO for Diamonds, Zheleznyak reported. Yulia Kusher, CEO of the company, has confirmed that Mindich controls the business.

Mindich also owned a stake in Russian diamond producer New Diamond Technology until 2024 — well into Russia's full-scale invasion of Ukraine, according to Zheleznyak's investigation. Meylor Global, which is also owned by Mindich, was the official distributor of the Russian company, Zheleznyak reported.

SOLO for Diamonds did not respond to a request for comment.

The Security Service of Ukraine (SBU) is investigating Mindich on suspicion of aiding the aggressor state in the wake of Zheleznyak's investigation, the lawmaker said on Nov. 6. He posted an official response on the criminal case that he had received from the SBU.

The SBU confirmed in a response to the Kyiv Independent that it is investigating the allegations.

Recently, Mindich met Kyrylo Budanov, head of Ukraine's military intelligence, as he allegedly tried to help the President's Office handle the scandals around Zelensky's former partner, Ukrainska Pravda's sources claim.

Andriy Yusov, a spokesman for military intelligence, told the Kyiv Independent that the claims are "incompetent" and "do not require any comment."

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