SBC News Voice of the Sports Betting Industry
PIN-UP Global has refuted developments in Ukraine related to an investigation into a software subsidiary by the State Bureau of Investigation (SBI).
The iGaming tech and engineering group has disclosed that the SBI has initiated criminal proceedings against Ihor Zotko, the owner of PIN-UP Ukraine (Ukr Game Technology LLC).
The SBI seeks to charge Zotko with high treason for aiding and abetting Russia. As part of the investigation, the accounts of PIN-UP Ukraine have been frozen, and its operations fully suspended.
Legal proceedings stem from the SBI scrutinising payments made between PIN-UP Ukraine and PIN-UP Global (GuruFlow Team LTD), a separate international iGaming company registered in Europe.
PIN-UP Global denies the SBI’s charges, stating that the payment transactions were made under a software agreement between the parties, which have no links to Russian interference.
The dispute is led by Marina Ilina, CEO of PIN-UP Global, who deems the SBI’s actions absurd and a challenge to the tech group’s business and reputation.
“These accusations do not stand up to criticism. I am a Ukrainian and openly support my country. All the activities of my company are transparent and can be easily verified.
“We have no financial transfers to Russia, only legitimate business operations. The case against Ukr Game Technology LLC may create a dangerous precedent in which standard commercial operations, such as royalty payments to international companies, are equated with a crime.”
Standing its ground, PIN-UP Global demands that the SBI clarify why it launched an investigation into transactions made between two software companies.
The tech group believes that the SBI’s motivations raise serious concerns for Ukraine’s business community, as legal proceedings may have been influenced by elements of pressure.
Of significance, the SBI must clarify the remit of its allegations, as cases of high treason fall under the jurisdiction of the Security Service of Ukraine (SSU), not the SBI.
International observers are reminded that the SBI is a state-level detective agency that investigates crimes and assists Ukraine’s local law enforcement.
Like all Ukrainian tech firms, PIN-UP Global has undertaken significant corporate adjustments and operational transformations due to Russia’s illegal war on Ukraine.
Despite undertaking drastic changes, the technology group has increased its headcount by 350%, growing its workforce to 4,000 staff working across seven offices worldwide.
Group CEO Ilina signed off PIN-UP Global’s response by stating: “We believe that the development of the situation around Ukr Game Technology LLC may affect international business perceptions of the investment climate in Ukraine and create risks for the operation of foreign iGaming companies in the country.”
