The Specialized Anti‑Corruption Prosecutor’s Office (SAP) is asking for 150 mln UAH that were posted as bail for former Minister of Energy Herman Halushchenko to be placed under the management of the Asset Recovery and Management Agency (ARMA).
Grounds and legal mechanism for transfer
Prosecutor Vitaliy Rybalkin explained that these funds are currently material evidence in the case related to the “Forest Gump” operation and are “seized on the treasury account of the High Anti‑Corruption Court (HACC)”. He noted that, as a general rule, material evidence is kept in the deposit account of the pre‑trial investigation authority.
According to the prosecutor, if the sum exceeds the threshold value, the Criminal Procedure Code (CPC) allows the funds to be placed under ARMA’s management so their value is not eroded by inflation. “They buy bonds at 17%. The state will receive these 150 mln UAH with a bond, it can put them to something useful. Plus the interest so that inflationary factors do not affect the value of this seized piece of material evidence,” explained prosecutor Vitaliy Rybalkin.
What a bond is and why it is considered a preservation option
A bond is a debt security that gives its holder the right to the return of the nominal value and to receive interest (yield). The purchase of bonds by state or other bodies allows them to earn interest income, which can offset losses from inflation.
The prosecutor says that placing the funds under ARMA’s management and buying bonds should preserve the value of the bail; preserving the value of the funds protects the purchasing power of the deposited money, which is relevant for private investors.
Reaction of the defence and the status of the court proceedings
Defence lawyers representing Halushchenko criticised the prosecutor for a “business‑like approach” to seized funds. At the hearing in the Appeals Chamber of the High Anti‑Corruption Court (HACC) a representative attended from only one of the four limited liability companies (LLCs) that posted bail, while the former minister did not appear.
At the lawyers’ request for additional time to prepare, the court postponed the hearing until November.
Context of the investigation
On 10 November 2025 the National Anti‑Corruption Bureau of Ukraine (NABU) announced the exposure of corruption in the energy sector related to the “Forest Gump” operation. According to the investigation, participants allegedly influenced state strategic enterprises, including Energoatom.
The funds referred to in the SAP’s motion are linked to this criminal proceeding and currently remain seized as material evidence.
