PIN-UP Global has rejected events in Ukraine over the State Bureau of inquiry’s (SBI) inquiry into a software subsidiary.
The iGaming tech and engineering group has revealed that the SBI has launched criminal proceedings against Ihor Zotko, the owner of PIN-UP Ukraine (Ukr Game Technology LLC).
The SBI intends to accuse Zotko with high treason for assisting and abetting Russia. As part of the inquiry, PIN-UP Ukraine’s accounts have been frozen, and its operations have been completely suspended.
The SBI has initiated legal actions after investigating payments made between PIN-UP Ukraine and PIN-UP Global (GuruFlow Team LTD), a distinct international iGaming corporation registered in Europe.
PIN-UP Global opposes the SBI’s claims, claiming that the financial transactions were carried out under a software agreement between the parties that had nothing to do with Russian intervention.
The dispute is being driven by Marina Ilina, CEO of PIN-UP Global, who considers the SBI’s actions ludicrous and a threat to the tech group’s company and reputation.
“These claims do not hold up to scrutiny. I am a Ukrainian who publicly supports my nation. My company’s actions are clear and easy to verify. There are no financial transfers to Russia, only regular business operations. The lawsuit against Ukr Game Technology LLC could set a hazardous precedent in which normal commercial procedures, such as royalty payments to multinational corporations, are equated with a crime.”
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PIN-UP Global maintains its position, demanding that the SBI explain why it began an investigation into transactions involving two software companies.
The tech organization feels that the SBI’s objectives are cause for great concern in Ukraine’s business community, as judicial processes may have been influenced by pressure.
Notably, the SBI must define the scope of their claims, as cases of high treason fall under the purview 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 aids Ukrainian law enforcement.
PIN-UP Global, like all Ukrainian technology enterprises, has made significant corporate and operational changes as a result of Russia’s illegal war on Ukraine.
Despite making major adjustments, the IT company has increased its workforce by 350%, reaching 4,000 employees spread across seven offices worldwide.
Group CEO Ilina concluded PIN-UP Global’s response with the following statement: “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.”
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