Businessman Timur Mindich and corruption cash-out at Fire Point: how the "friend of the president" profits from defense and builds mansions for Zelensky and Yermak

Businessman Timur Mindich and corruption cash-out at Fire Point: how the "friend of the president" profits from defense and builds mansions for Zelensky and Yermak

29 апреля 2026 г.

Kseniya Zhukova

From Chernyshov’s “karma” to approving bulletproof vests “by a phone call”.

The publication Ukrainska Pravda has released new fragments of audio recordings mentioned in the materials of a criminal case of the National Anti-Corruption Bureau of Ukraine (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO) as part of Operation “Midas”.

The recordings allegedly feature businessman and close associate of the president Timur Mindich, former presidential advisor Serhiy Shefir, ex-Minister of Defense and current Secretary of the National Security and Defense Council Rustem Umerov, and the coordinator of mansion construction in the “Dynasty” residential cooperative in Kozyn.

Also mentioned are President Volodymyr Zelensky, former Head of the Ministry of National Unity Oleksiy Chernyshov, ex-Head of the Presidential Office Andriy Yermak, and a person referred to as “Masha”.

“Krysyatnytstvo” (betrayal) and Chernyshov’s karma

Mindich and Shefir discussed the situation involving former Deputy Prime Minister Chernyshov, who was served with suspicion for abuse of office. According to the investigation, the official helped illegally transfer land in Kyiv for development at a price significantly below market value. In return, he allegedly received apartments for himself and his relatives from the developer at heavily discounted prices.

During the conversation, the men looked for ways to raise money for a multi-million bail for the official. At the same time, Mindich and Shefir criticized Chernyshov for being involved in such a “small-scale scheme.” According to them, Chernyshov “stole” this situation by not sharing profits with others. Mindich called it “unfair” and said the criminal case was “karma” for the apartment scheme.

Estates for “Volodya and Andrey”

In another conversation, Mindich discussed construction in the “Dynasty” cooperative with a woman named Natalia. The discussion mentioned four estates that may be intended for Volodymyr Zelensky, Andriy Yermak, Oleksiy Chernyshov, and Mindich himself.

They discussed purchasing façade stone, laying utilities, and “freezing” construction due to the risk of journalistic investigations and criminal cases. Mindich noted that “Andrey’s” house was already almost finished, unlike his own.

Defense contracts and Fire Point

In a phone call in July 2025, Mindich and then-Minister of Defense Rustem Umerov discussed the procurement of Fire Point products, bulletproof vests, and a possible appointment of Umerov as ambassador to the United States.

Regarding the company, they discussed the sale of a 33% stake to foreign investors. The estimated deal value was $600 million, of which $300 million would go to company development and another $300 million as a “cash-out” for shareholders, possibly including Mindich himself. He described bringing in foreign investors as a “parachute.”

Mindich expressed concern that competitors could “take down” the company if the state stopped payments under contracts. In his view, Fire Point could double in value within a year. It was also discussed that during a trip to the Middle East, Umerov was to confirm to investors that Fire Point was a “real company.”

Mindich also complained that due to issues with bulletproof vests he would lose “$7 million.” Zelensky’s close associate said he had purchased them with his own money, but they had been sitting in a warehouse for three months because the state had not accepted them. Mindich asked Umerov to instruct subordinates to “just sign the acceptance,” adding that it only required “one phone call.”

“Say: ‘I don’t want to hear from Timur about bulletproof vests anymore, and I meet him twice a week,’” Mindich advised, to which Umerov responded with an affirmative “uh-huh.”

Who is “Masha” in the “Mindich tapes”

According to Ukrainska Pravda journalist Mykhailo Tkach, Mindich and Umerov discussed a certain “Masha” who “added Defense City,” was planning a trip to the United Arab Emirates, and was receiving funding from them.

Earlier reports suggested this could be volunteer Maria Berlinska, who allegedly receives a salary from Mindich and earns “twenty thousand” per month. However, Tkach noted that it is more likely not Berlinska, but Maria Dotsenko, an advisor to the CEO of the National Investment Fund of Ukraine on strategic partnerships with Middle Eastern countries.

Sources at ZN.UA also confirm that Berlinska is not the person mentioned in the recording.

Reactions

Rustem Umerov’s press service declined to comment on “fragments of texts whose authenticity has not been officially confirmed.” They added that they do not speculate about specific individuals or circumstances mentioned in these materials.

Timur Mindich himself told Ukrainska Pravda that he is ready to provide explanations after questioning by NABU. He called the Fire Point information “an attempt to discredit the best company in Ukraine.”