An extensive anti-corruption investigation into allegations of graft involving the state nuclear power company Energoatom has rocked Ukraine.

What is happening with the probe, which could become the most significant anti-corruption case in the country and spark a massive political scandal?

On Monday morning, the National Anti-Corruption Bureau of Ukraine (NABU) and the Specialised Anti-Corruption Prosecutor's Office (SAPO) announced they had uncovered a large-scale corruption scheme in the energy sector.

The operation was given the code name “Midas”, after King Midas from the Greek myth, who turned everything he touched into gold.

NABU and SAPO said the investigation, which was 15 months in the making and involved 1,000 hours of audio recordings, uncovered the participation of several members of the Ukrainian government.

A worker walks in front of a transformer which was destroyed after a recent Russian missile attack at DTEK's power plant in Ukraine, Nov. 28, 2024. AP Photo

The anti-corruption bureau reported that the group was collecting bribes from Energoatom contractors, amounting to 10-15% of each contract's value.

Around $100 million in funds was laundered, according to the NABU.

"In fact, the management of a strategic enterprise with an annual revenue of over €4 billion was carried out not by officials, but by outsiders who had no formal authority," the NABU said in a statement.

The allegation is