Ukraine seizes $18.6 million from accounts of online casino

[The Buzz]

According to a report from Forbesthis week, Ukraine’s Bureau of Economic Security (BES) has confiscated UAH 700 million ($18.6 million) from the accounts of one of Ukraine's major gambling operators. The publication, citing law enforcement sources, identified the company as Cosmolot. Allegedly, the casino is accused of dodging UAH 1.2 billion ($31.9 million) in taxes.

From Yahoo! News:

According to the investigation, a large number of the company's employees organized unlicensed online gambling events.

Using more than 30 mirror sites that have similar interfaces to the licensed site, as well as "misdirection" of payments, they set up a scheme for tax evasion on a particularly large scale.

Investigators discovered that the gambling licensee was not located at the address specified in the official license. Employees also deliberately concealed evidence, including documents and other information, that would be necessary for a comprehensive, complete, and impartial investigation of the circumstances of the crime.

Currently, UAH 700 million in the company's accounts has been seized while pre-trial investigation continues.

The company stated that the charges are groundless and that it has already filed a complaint to the court to contest the charges. The company also claims that it pays all taxes required by law.

"Cosmolot employees are involved only in the maintenance and support of the official website cosmolot.ua, which operates exclusively on the basis of an official license,” the company stated.

Read the Forbes article here: https://forbes.ua/news/beb-areshtuva...05022024-18997