Russian connections in the Pin-Up business: how a Ukrainian casino continues to operate despite sanctions

Russian connections in the Pin-Up business: how a Ukrainian casino continues to operate despite sanctions

The Ukrainian company LLC "Ukr Game Technology," led on paper by Ihor Zotko and operating the widely recognized Pin-Up brand of online casinos and betting services, is at the center of a large-scale scheme recently exposed by the SBI.

This information became known to the media from the materials of the SBI criminal case No. 62024000000000286.

According to the investigation, behind the facade of legal gambling business lies a connection with Russia, the withdrawal of hundreds of millions of hryvnias abroad, and even a threat to Ukraine’s national security. Here is what is known about this high-profile case.

The company received a license from the Commission for the Regulation of Gambling and Lotteries (CRGL) in April 2021 to operate under the Pin-Up brand.

This network includes the online casino Pin-Up.Casino, sports betting Pin-Up.Bet, and the affiliate program Pin-Up.Partners, which operate not only in Ukraine but also in Kazakhstan, Azerbaijan, Turkey, India, and Brazil.

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However, behind the curtain of the successful business is the Cypriot company GURUFLOW TEAM LTD, which, according to the SBI, is controlled by Russian citizens, lawyer Dmitriy Punin and his wife Marina Ilyina, who holds the position of director and presents herself as CEO of Pin-Up Global, as well as another Russian — CEO of Pin-Up.Partners Mikhail Rogozhin, who in February 2024 received an award in Dubai at SIGMA Eurasia 2024.

The investigation claims: these individuals, through the Cypriot firm, manage the Pin-Up network and withdraw funds from Ukraine. According to the investigation, from January 2022 to February 2024, LLC "Ukr Game Technology" transferred more than 260 million hryvnias (6.25 million euros) to GURUFLOW as payment for software. These transactions took place even after the start of Russia’s full-scale invasion, under martial law, when the withdrawal of currency from Ukraine was strictly limited. The Guru Platform Suit software used by Pin-Up supports Russian payment systems such as "MIR", QIWI, and Yandex Money, which are under the sanctions of the National Security and Defence Council of Ukraine.

Moreover, until April 2022, GURUFLOW owned the Russian company "LLC "Pin-Up.RU", which after rebranding became "LLC "FONKOR" and paid 579 million rubles to the Russian budget in 2022. This money, according to the investigation, went to finance Russia’s military bloc and its aggression against Ukraine. In March 2023, the NSDC imposed sanctions on "FONKOR" for 50 years, but this did not stop the scheme.

The nominal owner of the Russian casino’s representation in Ukraine since March 2023 is Ihor Zotko. According to the special services, he could not explain the origin of 30 million hryvnias contributed to the company’s authorized capital, and also received 605 million hryvnias as dividends. The investigation considers these operations part of a scheme to legalize proceeds obtained in a criminal way. In January 2025, Zotko was charged under the article on aiding the aggressor state — he faces up to 15 years in prison.

The examination by the Kyiv Research Institute of Forensic Expertise (KRIFE) from November 2024 showed: the use of casinos by Ukrainian military personnel negatively affects the combat capability of the Defence Forces. The software collects personal data of players — from profile to banking — and can transfer it into the hands of Russians. The SBU had warned about such risks back in 2021-2022, but the network continues to operate.

To evade sanctions, Pin-Up uses "mirror" sites, such as pin-up.world, and redirects users between platforms. In March 2022, the brand in Russia changed its name to Ivanbet, and related sites are administered by Curacao and B.W.I. Black-Wood Limited (Cyprus), whose ultimate beneficiary is another Russian Maksim Bayev. These platforms operate even in the occupied territories of Ukraine, without paying taxes to the state budget.

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Among the officials who covered the casino’s actions were the head of the CRGL Ivan Rudyi and commission member Yevhen Yakhniy.