The investigation into the so-called Midas case has revealed that a criminal organization laundered approximately US$12.9 million on behalf of Herman Halushchenko, the former Ukrainian energy minister. This significant sum was handled in a manner described as complex, with funds notably funneled through accounts associated with a foundation, which were maintained at Swiss banks before being invested in deposits. Halushchenko, who is referred to by the codename 'Sigismund' in investigation documents, appears to have benefited financially from these illicit transactions.

Evidence from the National Anti-Corruption Bureau (NABU) indicates that from 2021 to 2025, Halushchenko received substantial financial gains tied to this money laundering operation. During his time in office, he reportedly had more than US$7.4 million routed into companies registered in the Marshall Islands, alongside nearly US$4 million that was extracted from these operations. These transactions raise serious concerns regarding the integrity of government officials and the overall governance in Ukraine amidst ongoing efforts to combat corruption.

The release of fresh audio recordings by NABU further substantiates these claims, suggesting a systematic approach by Halushchenko to allegedly enrich himself through corrupt practices while in a position of power. The ramifications of these findings could have significant implications not only for Halushchenko but also for public trust in the Ukrainian government's efforts to address corruption and uphold accountability among its leaders.