PIN-UP Global strongly denies high treason charges against Ukrainian partner

PIN-UP Global has responded to the criminal charges raised against the owner of the PIN-UP Ukraine operator (Ukr Game Technology LLC), Ihor Zotko, labeling them "legally absurd." 

The State Bureau of Investigation (SBI) of Ukraine has initiated criminal proceedings against Zotko on charges of high treason and aiding and abetting Russia. As a result, the company's accounts were frozen and its operations were completely suspended.

The accusations are based on license payments that Ukr Game Technology LLC (Brand PIN-UP.UA) transferred to PIN-UP Global (GuruFlow Team LTD), an international iGaming holding company registered in a European jurisdiction, said the company.

Marina Ilina, CEO of PIN-UP Global, strongly denied the accusations against the Ukrainian partner, stating that these are legitimate payments under the software license agreement. She further said that GuruFlow Team LTD has transparent operations, is licensed in Europe, and has "no financial transactions" with Russia.

Marina Ilina said: "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, but 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."

According to the CEO, the investigation led by the SBI raises "serious concerns and looks like an element of pressure," noting that, according to the country's legislation, cases of high treason are in the competence of the Security Service of Ukraine (SSU), and not the SBI.

Ilina further added that she believes the situation around Ukr Game Technology LLC may affect the international business perception of the investment climate in Ukraine, "creating risks for the operation of foreign iGaming companies in the country."