PIN-UP Global has strongly denied allegations by the State Bureau of Investigation of inappropriate links to Russia.
The iGaming B2B solutions provider’s CEO and Owner, Marina Ilina, has conducted a lengthy interview with NEXT, seeking to clarify PIN-UP Ukraine’s business dealings, which are currently under investigation.
Investigation Freezes Accounts and Detains Owner
As a result of the investigation, PIN-UP Ukraine’s accounts have been frozen, and operations suspended indefinitely. The SBI has brought legal proceedings to investigate payments made between the Ukrainian entity and the global arm, a separate international entity headquartered in Cyprus.
PIN-UP Global vehemently denies the charges, stating that the payment transactions were made under an inter-party software agreement with no links to the Russian state.
The Ukrainian entity’s owner, Igor Zotko, has been detained by law enforcement. Ilina has said in a statement that there is no legal justification for his detention, stating: “So far, the prosecution has not been able to explain which specific facts support their charges and why the court chose such a preventative measure without considering softer alternatives, such as bail or house arrest.”
She lamented the company’s treatment: “The accusations made, and methods used against Ukr Game Technology LLC seem to be a roughly staged campaign aimed to discredit and raid one of the major market operators, based on manipulations and legal absurdity.”
The CEO described the claim that royalty payments from Ukraine to Cyprus are an alleged Russian connection as “absurd.”
Ilina has suggested that the State Bureau of Investigation’s approach damages the country overall. She commented: ” Everything that is happening today is not about the law—it’s about politics, raiding, and the attempt of Igor Zotko’s competitors to destroy his business in Ukraine at any cost.”
She described the SBI as a political tool rather than a law-enforcement agency, adding, “The approach they have chosen in this criminal proceeding sets a dangerous precedent for any entrepreneur cooperating with Ukrainian business.”
Ilina predicts foreign investment into the country to be damaged, stating: “At any moment, the SBI can classify lawful business operations as ‘high treason’ and block accounts, meaning that no foreign investor in Ukraine can be sure of the future.”
Late last month, the National Police of Ukraine raided a live casino studio and arrested 120 for facilitating illegal gambling. The unlawful gambling site was also alleged to have Russian connections.
Further, a Commission for the Regulation of Gambling and Lotteries member was detained on suspicion of “supporting the activities of an online casino in Ukraine that had been involved in laundering Russian money.” Ivan Rudyi, the former head of the Commission, has also been detained and sanctioned for similar charges.
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