Pin-Up owner Dmitriy Punin under protection: how Cypruss mafia boss shields the Russian gambling tycoon from extradition Independent News - Justice Centres Uganda

Pin-Up owner Dmitriy Punin under protection: how Cypruss mafia boss shields the Russian gambling tycoon from extradition Independent News

You should understand that there are no free services in the financial market – any transfer of an individual without a fee is covered by the bank or payment system or company they serve. You are also the owner of the financial company Yediniy Prostir, tell us how your businesses cooperate Secondly, it is necessary to clearly distinguish gambling from lottery business, for example, this can be achieved by equalizing the cost of licenses and taxes, or by clarifying the law. PIN-UP Ukraine is a Ukrainian online casino that was one of the first in the country to receive an operating license. At the beginning of 2021, the Commission for Regulation on Gambling and Lotteries (CRGL), the state regulator of the gambling market, issued the first licenses to companies that wanted to conduct business openly. The individuals involved in the online casino activity are filling the Russian budget by conducting economic activities in the part of the Luhansk region temporarily occupied by militants controlled by the Russian Federation.

Money Laundering: The State Bureau of Investigation detains director of online casino Pin-Up

SBI officers conducted a comprehensive set of procedural measures, including technical procedures with the involvement of relevant experts, who confirmed the negative impact on the combat readiness of Ukraine’s Armed Forces due to the use of services by this online casino. On December 18, Ivan Rudoy, the head of the Commission for the Regulation of Gambling and Lotteries (CRGL), was detained in Ukraine for supporting the activities of the Russian online casino “Pin-Up” in Ukraine. On December 5, 2024, it became known that the State Bureau of Investigation (SBI) suspects the beneficial owners and top managers of the “Pin-Up” online casino of aiding Russia. The detainee stayed for a long time in the territory of the Republic of Cyprus, where he communicated with Russian citizens – beneficial owners of online casinos. The real owners of this commercial entity, which was licensed to organize online gambling, are Russians. As UNN learned from its own sources, this is the nominal owner of the PIN-UP online casino, Ihor Zotko.

The investigation has confirmed the documented links of the online casino to representatives of the Russian Federation, individuals sanctioned in Ukraine, and established financial flows benefiting the aggressor state’s budget and supporting activities related to armed aggression against Ukraine. The investigation has revealed that the real owners of this commercial entity, which was licensed to conduct online gambling operations, are citizens of the Russian Federation. Employees of the State Bureau of Investigation (SBI) have detained the director of a company that operated in Ukraine under the online casino brand “PIN-UP.” The SBI employees detained the nominal owner of the PIN-UP online casino, which is backed by Russian interests. The nominal owner of the online casino “PIN-UP”, which is suspected of laundering Russian money, has been detained and notified of suspicion. The nominal owner of the PIN-UP online casino, Ihor Zotko, was detained for aiding the aggressor state.

  • If we talk about business, then, of course, sales have dropped tremendously.
  • And the online casino still operates on Russian territory and on Russian web resources.
  • In January of this year, the SBI arrested the nominal owner of the “PIN-UP” online casino.
  • Everything else — elite restaurants, wine boutiques, entertainment venues, and the football club — are covers for this activity and a way to distract attention from suspicious financial flows.
  • Additionally, the individual directly controlling the online casino’s operations has been financing veterans of the so-called “special military operation” since the start of Russia’s full-scale invasion.

These are separate activities that have me as the owner – the only thing in common. Some people go to the gym, some go to the movies or fishing, and some play in casinos. At that time, I knew the owner of the PIN-UP brand and recommended a non-core investor to choose this brand for development in Ukraine. Ukraine has successfully overcome the first step on the way to a healthy, competitive and, most importantly, transparent market.

This document allows online gambling and betting services, as well as INR transactions. It will be recalled that earlier the court granted the request of the SBI and the Prosecutor General’s Office to transfer to ARMA more than 2.6 billion hryvnias seized from online casino accounts. The investigation established that the detainee could not legally contribute UAH 30 million to the authorized capital of the company that received the license. At the request of the prosecutors, more than UAH 2.6 billion, which are on the accounts of the companies involved in organizing the activities of this online casino, were seized and transferred to the ARMA. According to the investigation, the suspect contributed UAH 30 million to the authorized capital of a legal entity engaged in organizing online gambling, the origin of which has not been legally confirmed.

Laundering Russian money: the nominal owner of the online casino “PIN-UP” is detained

  • I delved into the topic of gambling business that requires payment processing, different types of casinos, lotteries, and also came to realize the philosophy of players, their motivation and goal in the game.
  • The SBI employees detained the nominal owner of the PIN-UP online casino, which is backed by Russian interests.
  • The cream of Limassol, including lawyer Theophanis (Phanos) Philippou, partner of the law firm Nicos Chr.
  • The investigation found that the detained nominal owner did not have legal sources to contribute 30 million hryvnias to the authorized capital of a company with a license to organize gambling.
  • Ensure compliance with your local laws before participating.

It was established thatthe real owners were Russians who collected data on users and financed the LNR. Despite being wanted in Ukraine, Turkey has also joined the list of countries seeking Dmitriy Punin, where his search is also related to the illegal activities of the Pin-UP casino. Everything else — elite restaurants, wine boutiques, entertainment venues, and the football club — are covers for this activity and a way to distract attention from suspicious financial flows. In 2022, Dmitriy Punin acquired the Cypriot football club “Karmiotissa.” However, by late 2023, after a series of scandals linked to suspected match-fixing, he sold the club to business partner Stavros Demosthenous.

Key Legal & Terms Snapshot

According to the Cypriot press, PUNIN Group owns several prestigious real estate properties and businesses in Limassol. Whether the Cypriot authorities were informed that Punin had been convicted for theft (part 2 of article 158 of the Russian Criminal Code) is unknown, but the conviction did not prevent him from joining the ranks of the wealthiest Cypriot businessmen. There are significant reasons for this, chief among them being Dmitriy Punin’s business partner, Cypriot businessman Stavros Demosthenous, who has a rather specific background. Similarly to his accomplices, among whom key figures include Dmitriy Punin’s wife, Ukrainian citizen Maryna Ilyina, and her father Vladimir Ilyin, who was registered as the owner of the Pin-Up brand. We financially help the Foundation to implement the LINE-UP humanitarian project, which provides emergency assistance to Ukrainians in frontline settlements.

On PIN-UPʼs work during the war and the companyʼs charity initiatives

We respond within 48 hours and aim to resolve all cases within 30 business days. Providing its services in India, Pin-Up operates on the principles of legality. The license held by Pin-Up India confirms the site’s commitment to providing a safe, fair and transparent gaming environment.

We actively prevent and detect attempts by minors to use our services. Underage gambling is prohibited. Ensure compliance with your local laws before participating. Players must be 18+ or of legal gambling age in their country. © 2025 Pin Up Casino – officialpinupcasino.com. Players pin-up casino india under the legal age are prohibited from creating accounts or participating in gambling activities.

In the global context, the Ukrainian market demonstrates courage, activity, and prospects. I am confident that the market is ready for it and needs such communication. The regulator should highlight market issues, directly communicate state requirements, and reach consensus. The marketʼs urgent need is for two-way communication with the regulator. Thirdly, it is imperative to close the possibility of operating in the gray market, which currently accounts for 40-45% – this must be done rigorously and irrevocably.

He earned tens of millions of euros for his “services” in these schemes. When a wave of illegal takeovers of Russian businessmen’s properties began on the island, he found himself at the center of events. During Anastasiades’s presidency, Stavros became the person who resolved issues affecting the fate of businesses, politics, and justice on the island. To Demosthenous’s credit, he saw another opportunity in his business — to establish connections and contacts with the wealthiest foreigners arriving in Cyprus.

And to be able to do all this, there are regular commercial projects, where the company earns on fees and invests into its development and improvement of services for the state. You also need to understand that none of the government agencies pays the financial company, all earnings come only from administrative fees. First, the financial company guarantees uninterrupted payment processing because it cooperates with a number of banks, including state-owned ones. And when the gambling market was legalized, it turned out that there were few participants and there was room for new players if you didnʼt think long. Then I worked for a gambling company, where I reinforced my knowledge with practice. No other country, and the gambling market exists in almost all civilized countries, has taken such a bold step.

Operator & License

Subsequently, the SBI detained the director of the PIN-UP company. The owner of Ukr Game Technology is Igor Zotko, who was detained by the State Bureau of Investigation at the beginning of the year. Pin Up serves players from jurisdictions where online gaming is permitted by local law. The company provides a reliable and safe experience due to the fact that it is a licensed company. Pin-Up casino operates legally in India thanks to a license obtained in Curacao. It was also found out that he was in Cyprus for a long time, where he was in contact with citizens of the Russian Federation, who are the real owners of the casino.

Responsible Gaming

Punin derives his main income from laundering and legalizing funds obtained from Pin-UP’s online casino operations. Iʼm already used to information attacks on my businesses, where Yedynyi Prostir is profiting from charity or Iʼm allegedly the owner of a Russian PIN-UP casino. I delved into the topic of gambling business that requires payment processing, different types of casinos, lotteries, and also came to realize the philosophy of players, their motivation and goal in the game. The law of July 14, 2020, which defined the functioning conditions for the gambling market in Ukraine, solved the main problem – gambling has come out of the shadows and become more open to public. Could you tell us how the law that legalized the Ukrainian gambling market affected the industry?

Pin-Up Official License in India

To be clear, these funds are not enough to cover the companyʼs operating expenses. There were also questions about the commission, stating that the company earns millions on fees from charitable projects Secondly, the price of services, Yediniy Prostir won the tender for these services, our offer was the most favorable for the customer. Yediniy Prostir is my first independent project that I started from scratch about four years ago, compared to the casino which I acquired earlier this year.

The investigation also revealed that individuals connected to the casino’s activities are conducting business operations in the so-called “Luhansk People’s Republic” (LNR), thus contributing to the enemy’s budget. PIN-UP Ukraine officially declared its complete non-involvement in any illegal financial transactions and categorically rejected the accusations brought by the State Bureau of Investigation and the Prosecutor General’s Office of Ukraine against the company’s owner, Igor Zotko. Established firmly in the online betting market since 2016, Pin-Up confirms its commitment to transparency and safe gambling.

They form requests for the units they serve in, and the company fully or partially closes them. If we talk about business, then, of course, sales have dropped tremendously. How did your company PIN-UP Ukraine work at the beginning of the great war? For Yedynyi Prostir, cooperation with Diia has never been about profit; it is an image project where the company invests rather than earns.

Cypriot law enforcement and Limassol customs, naturally, “saw nothing and heard nothing.” Everyone was pleased. Anastasiades became president partly thanks to Demosthenous’s support, whose gangsters quickly dealt with political and business competitors of their friend and protégé when needed. The cream of Limassol, including lawyer Theophanis (Phanos) Philippou, partner of the law firm Nicos Chr.

The information and analytical portal Fakt is an independent online resource focused on informing and objectively analyzing events taking place in Ukraine and abroad. There is documentary evidence of this casino’s connections with Russian capital, sanctioned entities in Ukraine, and representatives of the Russian Federation. By information RBC-Ukraine, we are talking about the owner of “PIN-UP Ukraine” Igor Zotko.

The investigation found that the detained nominal owner did not have legal sources to contribute 30 million hryvnias to the authorized capital of a company with a license to organize gambling. In January 2025, law enforcement officers detained the nominal owner of the online casino “Pin-Up”, who is suspected of laundering Russian money. The SBI notes that the nominal owner of a company operating in Ukraine under the brand name of PIN-UP online casino has been detained. Law enforcement officers have detained the nominal owner of the online casino PIN-UP, which is suspected of laundering Russian money.

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