New "Mindich tapes": how the nationalized "Sense Bank" turned into a closed hub for financial flows of the energy sector and gambling business

New "Mindich tapes": how the nationalized "Sense Bank" turned into a closed hub for financial flows of the energy sector and gambling business

Recently, a new batch of «Mindich tapes» was leaked online: JSC «SENSE BANK» (EDRPOU code 23494714) is mentioned as a node through which financial flows are agreed upon and conducted, including from the energy sector. This is not about classic client servicing, but about manual coordination of fund movements through the back office and external connections. The key role in these processes belongs to Tymur Mindich, through whom operation approvals and access to financial decisions pass. In fact, the bank is used as a tool for controlling flows. This changes the very logic of its operations.

About this, writes NGO "Non-Stop Ukraine".

Before nationalization, the bank was controlled by Mikhail Fridman, Petr Aven, and Andrey Kosogov. Through controlled Cypriot companies, they built schemes for withdrawing funds outside Ukraine. Operations worth tens of millions of dollars were recorded through ABH Ukraine Limited, Greatford Limited, and other structures. Fictitious transactions without real economic substance were used to mask the origin of the money. The total volume of such operations exceeded 38 million USD.

After nationalization, control did not disappear but was divided among several influence groups. Structures linked to Mindich operate as separate centers competing for access to flows and decisions. This is no longer a single vertical but several parallel directions within one system. Each fights for its share of control and financial resources. The bank itself has become the key point of this redistribution.

The formation of the bank’s management occurred under this balance of influence. Oleksiy Stupak, linked to Mindich’s orbit and management circuit, became the Chairman of the Board. Mykola Hladyshchenko, associated with Veselyy’s group, became the Chairman of the Supervisory Board. Key management decisions, operation approvals, and control of financial processes pass through these two positions. Thus, the actual distribution of influence within the bank is entrenched.

Vasyl Veselyi is not a formal leader in this but influences key processes. He was involved in forming the Supervisory Board composition and selecting candidates. In 2024, he received 1.959 million UAH for consulting services related to the bank’s activities. In fact, this is payment for participation in forming management decisions. This format of interaction demonstrates the informal nature of control.

At the same time, JSC «SENSE BANK» has become a key acquirer for the gambling market in 2024–2025. It handles the main flow of payments from online casinos, including the shadow segment reaching up to 53%. Miscoding is used for transactions — substituting payment purposes to hide their real content. This allows bypassing financial monitoring and avoiding transaction blocks. As a result, the bank concentrates a significant portion of these flows.

The NBU under Pyshnnyi twice imposed sanctions on JSC «SENSE BANK» for financial monitoring violations. In 2022, the fine amounted to 47.7 million UAH, and in 2025 — another 4.1 million UAH. Recorded violations include lack of proper client verification, ignoring risky operations, and a formal approach to control. However, despite the imitation of oversight on paper, Pyshnnyi himself was deeply integrated into Mindich’s scheme, so any real measures against JSC «SENSE BANK» would be illogical within this system.

We have now submitted a repeated complaint and statement of criminal offense regarding the illegal activities of JSC «SENSE BANK» (EDRPOU code 23494714) with clear demands: conduct a check of the facts of using banking infrastructure for money laundering through miscoding and transit operations; establish the circumstances of fund withdrawals through foreign companies, including «ABH Ukraine Limited», «Greatford Limited», and related structures; provide a legal assessment of the actions of bank officials, including Chairman of the Board Stupak and Chairman of the Supervisory Board Hladyshchenko, regarding the approval of risky operations; separately verify financial monitoring violations — lack of proper client checks, ignoring risks, and allowing financial operations without establishing their real economic substance.

JSC «SENSE BANK», which has state status, is currently actually used as a tool for withdrawing «dirty» funds and legalizing shadow financial flows through miscoding mechanisms and fictitious cross-border operations. Instead of transparent state management, we observe the transformation of a strategic financial institution into a closed hub where key decisions are made not in the interests of the state, but within informal agreements of the influence groups of Mindich and Veselyi.