Russian Entrepreneurs Roland Isaev and Paata Gamgoneishvili involvement with the SoftSwiss and Merkeleon groups

Roland Isaev and Paata Gamgoneishvili have become significant figures in the online gambling and cryptocurrency payment industries. Ongoing investigations into the Scam-Or Project reveal their extensive involvement with the SoftSwiss and Merkeleon groups, which they control through intricate business structures and strategic acquisitions. Court documents and information from whistleblowers highlight a global network that facilitates unlicensed gambling operations throughout Europe and beyond. Additionally, they are implicated in money laundering, online scams, and tax evasion.

Isaev and Gamgoneishvili took control of SoftSwiss in 2019 by acquiring a majority stake in Befree Ltd. through Tall Trade Ltd. Legal documents and whistleblower accounts confirm that they are the beneficial owners of both SoftSwiss and Merkeleon. A network of holding companies based in Cyprus enables the flow of funds through both fiat and cryptocurrency channels. SoftSwiss conducts gambling operations in Europe and Australia without the necessary licenses, thereby evading regulatory frameworks.

Isaev and Gamgoneishvili entered the online gambling market by acquiring SoftSwiss. Reports from whistleblowers and court documents indicate that they purchased the company from its founders, Ivan Montik and Dzmitry Yaikau, in 2019. This acquisition involved multiple entities and a loan agreement, which led to a shareholder dispute in the British Virgin Islands.

The corporate structure of SoftSwiss includes several entities. Direx Limited, based in Cyprus, operated SoftSwiss until 2020. Direx NV, located in Curaçao, is owned by Befree Ltd., which is also based in Cyprus and previously had majority ownership by Montik and Yaikau. Currently, Stable Aggregator Ltd. in Malta operates SoftSwiss.

Isaev and Gamgoneishvili’s influence also extends to several key gambling brands, including Rabidi Group, Dama, Hollycorn, and N1 Interactive. These brands operate under offshore licenses in jurisdictions such as Curaçao, allowing them to engage in unregulated gambling activities in Europe and Australia.

The SoftSwiss gambling network utilizes Merkeleon’s cryptocurrency payment systems to manage funds, including CoinsPaid and CryptoProcessing. Cyprus plays a crucial role in the network’s financial operations, with various companies serving as intermediaries. Befree Ltd. acts as a fund transfer intermediary, Primefuture Ltd. facilitates cryptocurrency payments, and Bitcapital Ltd. manages gambling revenues.

Today, the SoftSwiss Group operates as an iGaming software provider under the trading name SoftSwiss. Its legal entity is Stable Aggregator Ltd., and it is authorized by the Malta Gaming Authority with license number MGA/B2B/942/2022. The group’s activities raise serious concerns regarding money laundering, online scams, and tax avoidance, further complicating their already controversial operations.