Ukraine has dismissed Mykola Hladyshenko as chair of the supervisory board of state-owned Sense Bank after NABU released recordings that it says show the bank was used to launder 150 million hryvnias ($3.3 million) to post bail for a former minister.

The Cabinet’s 21 August decision ended Hladyshenko’s powers and appointed a state representative to the board to help restore a quorum. The Finance Ministry and National Bank of Ukraine (NBU) must now ensure the bank is properly governed and prepare it for sale.

New recordings changed the NBU’s assessment

The NBU’s 20 August decision followed a review opened in May, when recordings linked to the wider Mindich case raised questions about Hladyshenko’s independence. The regulator twice asked Ukraine’s anti-corruption agencies for evidence, but they could not release pretrial investigation materials. Hladyshenko stepped aside while the review continued.

NBU Governor Andrii Pyshnyi told Parliament that new public evidence changed the regulator’s assessment. The material suggested that Hladyshenko’s withdrawal had been merely formal and that he continued to influence the bank.

It also raised questions about the remaining board members’ oversight. That evidence emerged on 19 August as part of Operation “Forest Gump”.

The Mindich tapes are recordings from NABU’s investigation into an alleged $100 million kickback network at state nuclear operator Energoatom. They are named after businessman Tymur Mindich, a former business partner of President Volodymyr Zelenskyy.

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The NBU also demanded that Sense Bank suspend Liudmyla Snihur, head of the bank’s financial and currency monitoring department, while it investigates possible interference with the bank’s operating systems. The government initiated suspension proceedings against the chair of the management board, Oleksii Stupak.

According to Ekonomichna Pravda’s account of the NABU materials, investigators allege that the group moved illicit cash through Sense Bank, companies under its control, and private individuals before using the money to post bail for former Energy and Justice Minister Herman Halushchenko, a suspect in the Mindich case.

Snihur allegedly helped create a temporary “window” during which transactions passed without the bank’s usual checks.

Sense Bank was already for sale

Ukraine nationalized Sense Bank, formerly Alfa-Bank Ukraine, in 2023 after sanctions barred its Russian-linked owners from controlling it.

Kyiv was preparing to privatize Sense Bank before the current investigation. The government accelerated sale preparations on 20 August and said the proceeds would fund Ukraine’s defense forces.

Editor's note: This article was updated to include comments from Ukraine's Deputy Prime Minister Oleksii Chernyshov.

Deputy Prime Minister and National Unity Minister Oleksii Chernyshov will keep his position after a decision from the High Anti-Corruption Court on July 2, despite an ongoing corruption investigation.

Chernyshov is a suspect in a "large-scale" illegal land grab corruption case. After a court hearing on June 27, he was banned from traveling abroad without permission and slapped with a bail set at Hr 120 million ($2.9 million) while awaiting trial.

Despite Cheryshov’s defense appealing the bail, it was paid in full shortly after the July 2 hearing,  Olesya Chemerys, spokesperson for the High Anti-Corruption Court, told Ukrainian media Ukrainska Pravda. July 2 was the last day to pay the bail.

Prosecutors filed a motion for his removal on June 27. The day before, he told the Kyiv Independent that he denied the allegations and would not step down from his job.

"I definitely respect the court’s decision. At the same time, I will use all legal means to defend myself in court further and to protect my name and reputation," Chernyshov told the Kyiv Independent after the hearing on July 2.

Chernshov is the highest-ranking official in Ukrainian history to face such charges while in office, attracting a lot of eyes to the case. He is also considered a close ally of President Volodymyr Zelensky, marking a major accusation against the president’s inner circle.

Chernyshov has headed the National Unity Ministry since December, which was previously named the Reintegration of Temporarily Occupied territories Ministry, to strengthen ties with the Ukrainian diaspora. It was initially unclear why the ministry was created and what Chernyshov’s responsibilities were.

Earlier this week, several Ukrainian MPs, including lawmaker Yaroslav Zhelezniak, speculated that the ministry could be dismantled due to Chernyshov’s case.  Zhelezniak believes that the ministry is not needed and was created with the political goal of securing a position for Cherynshov, reported Radio Svoboda.

For now, Chernyshov says that the ministry will continue to operate as usual. "We have a lot of important work ahead, and stay dedicated to our values and tasks," he told the Kyiv Independent on July 2.

Speaking to reporters after the court dismissed the motion for his removal, Chernyshov said he had "collected funds" to pay the bail as his personal accounts are blocked.

The court’s decision to keep Cheryshov in place has raised concerns among the Anti-Corruption Action Center, a Kyiv-based watchdog. With Chernyshov still acting as deputy prime minister, he could potentially use his position to influence the court’s decision going forward in the case, said Olena Shcherban, deputy executive director at ANTAC.

"The logic of the court is currently completely unclear to me, as are the motives — but given the high profile of the position and Chernyshov being close to the president's entourage, I do not exclude that the court could be influenced," Shcherban told the Kyiv Independent.

"Whether this will affect the case is not yet known; it all depends on whether Chernyshov will still influence witnesses and use his position to save himself — and I think he will definitely use it," she added.

According to the National Anti-Corruption Bureau (NABU) investigation, during his time as communities and territories minister in 2020-2022, Chernyshov and his associates undervalued land plots to benefit a developer in exchange for kickbacks.

Chernyshov and his accomplices allegedly received "significant" discounts on apartments in existing buildings, totaling over Hr 14.5 million ($346,000), from the developer. The actions cost Ukraine Hr 1 billion ($24 million), according to NABU.

Chernyshov first raised eyebrows after he left the country on a business trip days before law enforcement unveiled the charges and detained two of his close associates. Despite suspicions that he had fled the country to avoid arrest, he returned to Ukraine on June 22 and was summoned to NABU the following day.

During the court hearing, NABU and the Specialized Anti-Corruption Prosecutor's Office (SAPO) requested that Chernyshov be suspended from office and that the court set bail of Hr 120 million ($2.9 million).

The two offices also requested additional measures restricting his movements, including that he hand in his passport and wear an electronic monitoring device.

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Ukraine's National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor's Office (SAPO) have filed a motion with the High Anti-Corruption Court seeking to impose bail and suspend Deputy Prime Minister Oleksii Chernyshov from office, NABU's press service reported on June 27.

Chernyshov was officially named a suspect on June 23 in what NABU called a "large-scale" illegal land grab case. Chernyshov heads the new National Unity Ministry in charge of returning refugees and is a close ally of President Volodymyr Zelensky. He left Ukraine days before law enforcement revealed a massive corruption scheme and detained two of his former close associates — Maksym Horbatiuk and Vasyl Volodin.

Investigators allege that Chernyshov and his associates undervalued the land fivefold, costing the state Hr 1 billion (about $24 million), and received discounted apartments worth over Hr 14.5 million ($346,000) in return. In a comment to the Kyiv Independent, Chernyshov has denied the allegations and said he has no plans to step down.

The agencies are requesting that Chernyshov be placed under a bail measure of Hr 120 million ($2.8 million) and be formally removed from his current post while the investigation proceeds.

The agencies said the proposed measures reflect the risks identified during the investigation, including concerns about potential obstruction of justice. They emphasized that their motion aligns with the court's precedent in similar high-profile corruption cases.

The motion also requests that Chernyshov be subject to standard obligations, including a travel ban, passport surrender, and mandatory cooperation with law enforcement. SAPO additionally urged that he be prohibited from contacting other suspects or witnesses in the case.

The agency noted that Chernyshov returned to Ukraine voluntarily and responded to their summons.

If the court upholds the request, Chernyshov would be required to pay the bail within five days. Failure to do so or breach of the imposed conditions could result in a more severe pre-trial measure, prosecutors said.

Chernyshov returned to Ukraine on June 22 following growing public pressure and reported to NABU the following day. Despite his claim that he had been on a scheduled business trip, critics accused him of attempting to evade charges.

Chernyshov is considered a close ally of Zelensky and has held several high-profile roles, including CEO of state-owned oil and gas giant Naftogaz.

Exclusive: Ukrainian deputy prime minister suspected of corruption says he won’t step down

Ukrainian minister and deputy Prime Minister Oleksii Chernyshov has been formally named a suspect in a high-profile illegal land grab case, becoming the highest-ranking official in Ukrainian history to face such charges.

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Ukrainian Deputy Prime Minister Oleksii Chernyshov on June 23 was formally named a suspect in a high-profile illegal land grab case, becoming the highest-ranking official in Ukrainian history to face such charges while in office.

After reports and public speculation around Chernyshov's potential involvement, the National Anti-Corruption Bureau (NABU) released a statement announcing that he was the sixth suspect in a “large-scale” corruption scheme led by a property developer from Kyiv who illegally claimed a land plot to build a residential complex.

In a comment to the Kyiv Independent, Chernyshov denied the accusations against him. "I'm absolutely not involved in that (scheme) — that's clear," he said.

He also said he won't step down from his post. "I will stay in this position," Chernyshov told the Kyiv Independent.

Chernyshov, who heads the new National Unity Ministry in charge of returning refugees, is a close ally of President Volodymyr Zelensky. He raised eyebrows in Ukraine after leaving the country days before law enforcement revealed a massive corruption scheme and detained two of his former close associates — Maksym Horbatiuk and Vasyl Volodin.

According to the anti-corruption agency, during his time as communities and territories minister in 2020-2022, Chernyshov and his associates undervalued land plots by five times to benefit the developer, which Ukrainian media identified as Serhii Kopystyra, allegedly costing the state Hr 1 billion ($24 million).

In exchange, NABU says the developer gave kickbacks to Chernyshov and his accomplices with "significant" discounts on apartments in his existing buildings, totaling over Hr 14.5 million ($346,000). Ukrainian news site Ukrainska Pravda reports this took place between 2021-2022.

NABU and Ukraine's Specialized Anti-Corruption Prosecutor's Office (SAPO) seized the plot to prevent the scheme. Most of the illegally obtained apartments have been seized.

Chernyshov arrived back in the country on June 22 after suspicions mounted in Ukraine that he was on the run and avoiding detention.

"I was definitely on a business trip and I was not escaping out of Ukraine," Chernyshov told the Kyiv Independent. "The rumors of me not returning are nothing but manipulation. I came exactly once my trip was over. I had a very intensive trip in Europe."

Chernyshov claims he was targeted by a "smear campaign" but said he didn't know who could be behind it.

He also said that he came back on his own accord and denied that anyone had asked him to return.

The minister arrived at the NABU offices on June 23, after the agency summoned him to be charged. Upon leaving the bureau, Chernyshov wrote on Facebook that he had a “constructive chat” with detectives and will cooperate with the organization.

An investigation into Chernyshov and two of his associates took place last year after suspicions arose, according to Ukrainska Pravda, with the agency obtaining a warrant to search Chernyshov's home.

But sources in anti-corruption agencies told Ukrainska Pravda that the head of NABU, Semen Kryvonos, blocked police searches due to his close relationship with Chernyshov, who was his boss when Kryvonos headed the State Architecture Inspection, an agency that was subordinated to Chernyshov's former ministry.

Searches allegedly took place a few weeks ago, after a one-year delay, according to Ukrainska Pravda.

Chernyshov said that while he knows Kryvonos in a professional manner, the two are not in contact. He added that the allegations against Horbatiuk and Volodin look "quite serious" but that it was for law enforcement to decide if their detention is justified.

He was appointed head of state-owned energy giant Naftogaz in 2022 after the dissolution of the Communities and Territories Development Ministry. He became the national unity minister in December 2024, a ministry created from scratch.

Chernyshov is widely believed to have a personal friendship with Zelensky. According to a report by Ukrainska Pravda, he was among only a handful of guests invited to celebrate Zelensky's birthday during the Covid-19 pandemic in 2021 — and the only member of the Cabinet of Ministers in attendance.

"The key thing is that today NABU and SAPO have actually reached the immediate circle of the president's 'family,'" Olena Shcherban, deputy executive director at the Anti-Corruption Action Center (ANTAC), a Kyiv-based watchdog, told the Kyiv Independent.

The President's Office feels the threat from NABU and SAPO and will likely attack the two institutions in response to Chernyshov's notice of suspicion, rather than "saving" the minister, Shcherban added.

"I am sure we will see both attempts to make harmful changes to the law and personal attacks on the SAPO head (Oleksandr Klymenko)," she said.  

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