Ukraine is reportedly preparing to request judicial assistance from Cyprus regarding Russian businessman Dmitri Punin, according to reports in Russian-language media outlets.
The anticipated request relates to investigations into Punin, a prominent businessman who previously served as chairman of football club Karmiotissa FC and maintains business interests through companies based in Limassol.
Media reports suggest impending legal cooperation
Information about the planned request emerged over the past two days through reports on a Telegram news channel and two other websites. The reports indicate that Ukrainian authorities are investigating Punin’s activities amid allegations that he serves Russian interests to Ukraine’s detriment through alleged shadowy financial operations via Cyprus and specific legal entities.
According to these sources, Ukraine plans to make similar requests to other European countries as part of a broader investigation.
PIN-UP casino investigation
The case centres on the online casino “PIN-UP”, which operates in Ukraine among other markets. Ukrainian authorities reportedly determined in spring 2024 that Ukrainian companies were connected to PIN-UP operations.
Ukrainian officials allege that the legal entity controlling the electronic casino serves Russian interests against their country’s welfare. The reports claim that Punin is the businessman behind PIN-UP and that he uses front persons to operate the business.
Ukrainian sanctions imposed
The matter gained prominence on 25 May when Ukrainian President Volodymyr Zelensky implemented a decision by the National Security and Defence Council imposing sanctions on Russians allegedly connected to the PIN-UP casino.
Punin and two other individuals received restrictive measures lasting ten years, including asset freezes. All three are reportedly linked to a Cypriot company that functions as a parent structure for managing the electronic casino and coordinating related financial and operational activities.
According to a Telegram news platform: “As part of the investigation, legal assistance is expected to be requested from the authorities of the Republic of Cyprus to gather evidence about the Cypriot company’s activities and its connections with other legal and natural persons. Kyiv also seeks cooperation with other EU countries.”
Company denies allegations
The Cyprus Investigative Reporting Network (CIREN) previously examined this case on 20 June. Their report referenced the Cypriot company allegedly connected to PIN-UP casino, though the company later sold its stake.
Punin’s wife, Marina Ilina, participates in the administrative structure of the Cypriot corporate entity in question. When contacted by CIREN via email for comment, she denied any connections with the Russian government or contributing to the Russian budget through the company.
In her written response, Ilina stated: “Guruflow Team Ltd has never made any payments to Pin-Up Ru LLC during the period of ownership of corporate rights in the said entity, and Pin-Up Ru LLC did not pay any taxes in the Russian Federation during the time that Guruflow Team Ltd held a share in its charter capital”.
Read more:
