24.05.2025
Cybercrimes
Pin-Up: How casinos evade taxes, withdraw millions and threaten Ukraine’s security
Ukr Game Technology LLC, operating under the Pin-Up brand, has been in the spotlight for its multimillion-dollar tax debt, suspicions of aiding Russia, and illegal operation of online casinos.

Tax debt for hundreds of millions: how Pin-Up avoids responsibility
Ukr Game Technologies LLC has accumulated a tax debt of UAH 564.62 million, which became the basis for a court decision of the Kyiv District Administrative Court. The court ruled to suspend all expenditure transactions on all bank accounts of the company and seized its funds to the extent of the debt. The decision was made at the request of the Central Interregional Department of the State Tax Service for Large Taxpayers, which had repeatedly tried to resolve the situation.
The composition of the debt is as follows:
- AH 410 million – unpaid taxes for the first quarter of 2024.
- UAH 150.48 million – debt for the first half of 2024.
- UAH 145.2 thousand – liabilities under the clarifying declaration.
- UAH 612.64 thousand and UAH 956.9 thousand – accrued penalties for late payment.
- UAH 2.73 million – penalties based on the results of the desk audit for the period from November 2022 to November 2024
These amounts arose due to non-payment of taxes on income from betting and gambling activities. The tax service repeatedly sent the company demands, notifications and letters asking for documents to describe the property as a tax lien, but Ukr Game Technology systematically evaded cooperation. Tax administrator Tsyukalo T. V. visited the company’s address twice (on April 25 and May 7), but found neither the company’s representatives nor its property. As a result of these visits, acts were drawn up on the absence of the taxpayer at the location and on obstruction of the exercise of powers.
Earlier, the tax service had already described the company’s property in the amount of UAH 2.16 million and UAH 20.18 billion, but these assets do not cover the debt, and their existence was not confirmed during the inspections. The company was notified of the court hearing by email and phone, but its representatives did not attend the hearing and did not provide a response. As a result, the court suspended expenditure operations until July 7, 2025, and seized the funds.
Russian trace: Pin-Up’s ties to the aggressor state

The tax debt scandal is only part of what you should know. Ihor Zotko, director of Ukr Game Technology LLC, is a suspect in criminal case No. 62024000000000286 under Article 111-2 of the Criminal Code of Ukraine (aiding the aggressor state). The investigation established that Zotko received UAH 605.74 million from Russian beneficiaries headed by Dmitry Punin, which he accumulated in bank accounts. These funds are related to the Pin-Up online casino, which continues to operate despite court restrictions.
The company received a license from KRAIL on April 9, 2021, but, according to the SBI, this license ignored violations of the law, in particular the ban on the participation of residents of the aggressor state in the gambling business. Pin-Up online casino operates through a web resource, the technical support of which is provided by the Cyprus-based company GURUFLOW TEAM LTD, controlled by Russian citizens. Cash flows from the casino’s activities are transferred outside Ukraine through this company, which, in turn, received a loan from the Russian company Fonkor LLC (formerly known as Pin-Up.RU) in the amount of 14.2 million euros.
Moreover, Pin-Up is accused of collecting personal data of users, including members of the Armed Forces, law enforcement officers and other persons liable for military service. This information may pose a threat to national security, as the transfer of such data to Russian structures could be used for blackmail or other criminal purposes.
Criminal charges: from tax evasion to creation of a criminal organization

Igor Zotko, Dmitry Punin and their accomplices are suspected of a number of serious crimes:
- Aiding and abetting the aggressor state (Part 1 of Article 111-2 of the Criminal Code).
- Legalization of the proceeds of crime (Part 2 of Article 209 of the Criminal Code).
- Tax evasion (Article 212(3) of the Criminal Code).
- Establishment of a criminal organization (Art. 255(1), (2), (3) of the CC).
- Illegal handling of weapons (Article 263(1) of the Criminal Code).
- Official crimes and forgery of documents (Art. 365-3(1), Art. 366(1) of the Criminal Code).
These charges demonstrate the systemic nature of the violations, which go far beyond simple tax evasion. The investigation believes that Pin-Up is part of an organized criminal scheme that uses the gambling business as a tool for money laundering and financing activities that threaten the security of Ukraine.
Seizure of property: what does Pin-Up lose?
The court seized corporate rights and real estate related to Pin-Up’s activities. ARMA gained control over the following assets:
- 75% of the authorized capital of Kupetsky Dvor Restaurant LLC, which owns a complex of cafe buildings at Stolychne Highway, 26 km, in Kyiv (area 536.5 sq.m.).
- 75% of the authorized capital of Garant Real Estate LLC, which owns the Podil Plaza hotel at 7 Konstantynivska Street, Kyiv (area of 2965.5 sq.m.).
- 50% of the authorized capital of Restaurant Monaco LLC, which owns non-residential premises in Kyiv with a total area of 2318.8 sq.m., including the restaurant Monaco.
The co-owner of these assets is Gennadiy Viktorovich Timonin, who is also associated with the Cyprus-based Podil Hotel Management Ltd. The seizure provides for a ban on the alienation, disposal, and use of property, which significantly complicates the company’s operations.
Struggle for control: who will oversee Pin-Up?
Despite all the court rulings and arrests, Pin-Up’s websites continue to operate, and the struggle for control of the company is gaining momentum. The confrontation between different groups of influence seeking to gain control over the casino continues. The main question is who will become the new “curator” of Pin-Up and get access to its financial flows. At the same time, there are attempts to drive the company into the shadows to avoid paying taxes and continue operations without government oversight.
This situation points to serious gaps in the regulation of the gambling business in Ukraine. KRAIL, which issued the license to Pin-Up, is accused of condoning violations, and the lack of effective control allows the company to continue operating despite criminal cases and debts.
Conclusions: What’s next?
The Pin-Up scandal is not just a story about a tax debt or a violation of license conditions. It is an example of systemic corruption that permeates the gambling business and poses a threat to national security. Ties with Russian beneficiaries, withdrawal of funds abroad, collection of personal data and tax evasion – all of this demonstrates the need for immediate reforms in the field of gambling regulation.
While the courts are making arrests, law enforcement agencies are launching criminal proceedings (BES – 72023000500000083, Sumy Regional Prosecutor’s Office – 42024200000000229), and the tax authorities are trying to collect debts, Pin-Up continues to operate, and the struggle for control of the company is only getting worse. Will the state be able to put an end to this story? Or perhaps influential patrons will help the casino stay in the shadows?
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