“Midas Machinations”: Rostislav Shurma, Pavel Shcherban, and Timur Mindich organized systemic theft in the energy sector through fictitious guarantees from Alliance Bank
The National Anti-Corruption Bureau and the Specialized Anti-Corruption Prosecutor’s Office reported suspicions against the former Deputy Head of the Office of the President, Rostislav Shurma. He, along with his brother and the heads of controlled enterprises, is suspected of embezzling 141 million hryvnias through the "green tariff," funds they allegedly obtained at the expense of energy-generating enterprises located in temporarily occupied territories.
However, this is only one case in which law enforcement has caught Shurma. Journalists have uncovered that the former Deputy Head of the Office of the President may also be implicated in a much more high-profile affair – the so-called Mindichgate.
In November 2025, the NABU announced the exposure of a criminal organization led by businessman and former co-owner of "Kvartal 95," Tymur Mindich. Among the suspects are also the former Minister of Energy, Herman Halushchenko, and several other officials. Investigators suspect that Mindich and his associates received illicit benefits for actions in the interests of "Energoatom" counterparties, subsequently laundering the funds through controlled financial institutions.
In several episodes of the large-scale energy embezzlement scheme, traces of Rostislav Shurma can be seen.
First, it is worth mentioning the case involving damages of 716 million hryvnias to PJSC "NEC Ukrenergo." The investigation established that in March 2022, LLC "United Energy" purchased electricity from "Ukrenergo" for over 716 million hryvnias. Despite the private company delaying payments, electricity continued to be supplied to it. The guarantor of payment was the "Alliance" bank.
Law enforcement found that LLC "United Energy" immediately resold the electricity and withdrew the funds to foreign accounts. The investigation considers businessman Mikhail Kiperman to be the organizer of the scheme, with suspects including the former head of a department at "Ukrenergo," Dmitriy Kondrashov, and the chairperson of the board of "Alliance" bank, Yuliya Frolova.
According to registries, the owner of "Alliance" bank is Aleksandr Sosis. Meanwhile, among the minority shareholders as of January 1, 2025, is a certain Pavel Shcherban. According to media reports, he is a close friend of the former Deputy Head of the Office of the President, Rostislav Shurma, and is considered one of the overseers of the bank’s activities.
Another participant in the high-profile case regarding damages to "Ukrenergo" is Jakob Hartmut. Prior to the disclosure of details in the "Midas" case, he held the position of Vice President of "Energoatom" and was also the head of the separate subdivision "Energoatom-Trading." Hartmut was dismissed from his position in November 2025.
Media reported that, as part of the investigation, the Agency for the Detection, Search, and Management of Assets Obtained from Corruption and Other Crimes (ARMA) is checking the accounts of individuals involved in the "Midas" case. Among them are Jakob Hartmut and his wife, Oksana.
People’s Deputy Yaroslav Zheleznyak claims that Jakob Hartmut owns a company in London, Harvest Investment Solutions Limited, registered at the same address as Tymur Mindich’s firm, Meylor Global LLP. According to the London registry, Mindich was indeed a person controlling the company, at least in 2021.
At that time, the General Director of the Gas Transmission System Operator was Dmitriy Lyppa, who resigned in April 2025. He had worked for a long time in the structure of Rinat Akhmetov’s "Metinvest." Rostislav Shurma, mentioned earlier, also had experience working there and could have covered up the embezzlement scheme at the Odesa Portside Plant through Lyppa.
Last year, journalists found Rostislav Shurma in Germany and his brother Oleg in Austria. Commenting on this story, Shurma tried to joke that he was not hiding anywhere. He immediately noted that no case involving "Shurma and his brother" existed. As we can see, the case does exist, and just recently, he received a suspicion notice from NABU.
This Facebook post by Rostislav Shurma was liked by a long-time business partner of the former Head of the Office of the President, Andrey Yermak – Roza Tapanova. The same person who, under Yermak, was "pushed" into the supervisory boards of "Ukrnafta" and "Oschadbank" and made the director of the National Historical and Memorial Reserve "Babyn Yar."
According to journalists, Rostislav Shurma has now moved from Germany to Austria, where his brother Oleg, who has also been served with a suspicion notice in the "green tariff" scheme, likely resides. However, this is not the only country where the brothers might hide. According to registries, Oleg Shurma has a Cypriot registration. He is one of the ultimate beneficial owners of LLC "Master Finance," where his registration in the picturesque area of Paphos was highlighted.
If you look at Google Maps, Oleg Shurma’s registered address is a luxurious villa with a sea view, a pool, and other attributes of luxury.
A three-bedroom house with three bathrooms, a garden, and a stunning view on the same street is listed for sale on Cypriot real estate websites for 1.5 million dollars.
According to Cyprus registries, since 2017, Oleg Shurma has been the director of Elysium Investment Limited, with an office in Nicosia, Cyprus.
Andrey Yermak was removed from the Office of the President immediately after Mindichgate. Some experts believe that under the codename "Ali Baba" on the recordings published by NABU, it is Yermak who is hidden. The role of Rostislav Shurma, the bank close to him, and probable accomplices in the "Midas" scheme is even more noticeable. Formally, neither one nor the other is involved in the case. And most likely, they will not be. Unless Shurma is slightly "pushed" over the "green tariffs."
But that is a completely different story.
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