From diamonds to government contracts: what does Mindych, the main person involved in the NABU investigation, do?
13 November 22:51
The largest official asset of Timur Mindych, the main person involved in the NABU and SAPO Midas special operation, in Ukraine is a 50% stake in Kvartal 95 LLC. However, his business interests also include media, mining, diamond business and food service, "Komersant Ukrainian" reports citing Forbes Ukraine.
Currently, NABU suspects Israeli citizen Timur Mindich of actually running the back office of the state-owned Energoatom company, through which, according to the investigation, about $100 million has been withdrawn over the past 15 months. Detectives failed to detain him: Mindych managed to leave Ukraine before the searches were conducted.
on November 13, 2025, the National Security and Defense Council imposed sanctions against him. The list of restrictions includes asset freezes, a ban on capital outflows abroad, suspension of licenses and permits, and a ban on the purchase of land in Ukraine.
The businessman has recently avoided publicity. However, another Ukrainian business heavyweight, Ihor Kolomoisky, spoke about Mindych in the most detailed way in interviews with Ukrayinska Pravda in 2019 and 2022.
At first, he called Mindych his business partner “in not very important projects, such as development,” but later clarified that he considered him a debtor rather than a partner, and even listed his debt as an asset during the London trial of PrivatBank. At the same time, Kolomoisky emphasized that this did not spoil their personal relationship: Mindych was once his daughter’s fiancé, and the oligarch himself became the godfather of Mindych’s son.
According to Kolomoisky, it was Mindych who introduced him to the then showman Volodymyr Zelenskyi and for some time worked “on both sides”: with the 1 1 TV channel and the Kvartal 95 studio. Later, he was fired from Plus, but Mindych, according to Kolomoisky, continued to represent Kvartal’s interests in negotiations with the channel and “fully maintained the contract with Plus.”
Mindych’s largest official asset in Ukraine is a 50% stake in Kvartal 95 LLC. Other co-owners are Serhiy Shefir (37.5%) and Andriy Yakovlev (12.5%). Until 2019, Zelenskyy was also listed among the beneficiaries, but his share was formally passed through the Cyprus-based Green Family structure. In 2020, Zelenskyy announced that he had sold his shares of the business to the Shefir family. Despite this, he retains the rights to a number of trademarks for Kvartal projects. In 2023, Kvartal 95 LLC declared UAH 120.8 million in revenue.
In addition to Kvartal, Mindych is associated with another media project, Stadium Family production, a comedy YouTube project that announced its suspension on November 12.
In the mining business, Mindych owns 50% of Kvartsyty DM, a company that develops the Vasylkivske quartzite deposit in Dnipro region. Its other co-owner is Gennadiy Boholyubov. In 2023, the company received UAH 10.4 million in revenue and recorded a loss of UAH 8.2 million.
Another important area of his interests is the diamond business. Mindych owns the British distributor Meylor Global and in 2006 invested in Alkor-D, a producer of synthetic diamonds. Based at the Izumrud plant in Kyiv, this company produced about 10,000 carats of diamonds in 2023 and exported 99% of its products. In 2024, its revenue amounted to UAH 36 million.
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In the food sector, the businessman owns 25% each in Sky Food Service and Coffee Bar Plus. The former used to provide in-flight meals for UIA flights, while the latter is involved in the case of former Boryspil Airport CEO Yevhen Dykhne, who was sentenced to five years in prison in 2023. The NABU believes that in 2014-2019, some of the airport’s premises, including those for Coffee Bar Plus, were leased at low rates and without competition.
Mindych is also linked to attempts to supply bulletproof vests to the Armed Forces. National Security and Defense Council Secretary Rustem Umerov, who headed the Defense Ministry until 2025, confirmed that he had met with Mindych about the bulletproof vest contract. In the end, according to Umerov, the contract was terminated because the products did not meet the requirements, and no batch was ever delivered.
It was a contract between the State Logistics Operator and Milikon. Mindych’s name does not appear in the state registers among its direct owners, but according to anti-corruption activists cited by the media, he could have been informally interested in this scheme.
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