The Parliament’s Finance Committee will submit a request to the Security Service of Ukraine (SBU) to clarify why 2.6 billion UAH from Pin-Up was transferred to ARMA due to alleged ties to Russia, while the agency has not provided the Gambling and Lotteries Regulatory Commission (KRAIL) with information to revoke the company’s license.
Committee Chairman Danylo Hetmantsev made this statement while commenting on a related inquiry by MP Oleksiy Ustenko. “If you want results, law enforcement agencies are confident there are no [Russian] roots,” Hetmantsev added. Deputy Committee Chairman Yaroslav Zheleznyak noted, “There are discrepancies between the State Bureau of Investigation (SBI) and the SBU, as far as I recall.”
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The company’s funds were initially frozen in May. According to the SBI, the investigation confirmed links between the online casino and representatives of the aggressor state, Russian capital, and sanctioned entities. The investigation was conducted “within the framework of a criminal case involving financing actions aimed at overthrowing the constitutional order, money laundering, creation and participation in a criminal organization, and law enforcement inaction regarding illegal lottery activities.”
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The core accusation against Pin-Up is its alleged dishonesty, with funds potentially flowing to Russia, with which the company is said to have ties. It is accused of purchasing software from companies controlled by or partnered with Russian entities. In late October, Kyiv’s Pechersk Court lifted the asset freeze, but ARMA appealed to the SBI, and the court reimposed the freeze. Want to know what’s new in crypto gambling? Read Bitcoin casino reports. ARMA intends to invest the seized funds in military bonds.
