CoinsPaid and SoftSwiss involved in money laundering, sanction evasion, and fraudulent activities

SoftSwiss and its associated entities, including CoinsPaid, AlphaPo, Merkeleon, and Dream Finance, face serious allegations related to money laundering, sanction evasion, and fraudulent activities. Prominent individuals such as Ivan Montik, Max Krupyshev, Pavel Kashuba, Dmitry Yaikov, Roland Yakovlevich Isaev, and Paata Gamgoneishvili are central to these controversies.

The network of companies involved is entangled in various legal troubles. Operating in the niche market of online casinos presents numerous legal complications. SoftSwiss, through its alleged parent company Dama NV, has encountered multimillion-dollar fines due to non-compliance with gambling regulations. Dama NV is closely associated with Direx NV, another significant player in the gambling industry, which faced investigations by the Australian Communications and Media Authority (ACMA) in 2019. The leadership of Direx NV includes Ivan Montik and Maksim Max Trafimovich, who are listed as directors and owners, with legal representation provided by REVERA, a firm that has strong connections to executives at SoftSwiss.

Additionally, many individuals linked to these companies, primarily of Belarusian nationality, have been accused of facilitating cryptocurrency transactions for the Russian market. These activities are alleged to assist in bypassing sanctions while concealing illicit financial trails.

Several key legal cases highlight the ongoing issues. In 2019, Direx NV was investigated by the ACMA for operating unlicensed interactive gambling services and neglecting player protections. The legal representation for this case was REVERA, led by Helen Mourashko, who has ties to Pavel Kashuba, the CFO of SoftSwiss. Between 2021 and 2023, Dutch regulatory actions resulted in significant fines for N1 Interactive Ltd., the operator of the Betchan website. In 2021, the KSA imposed a fine of €500,000 for unauthorized gambling services, lack of age verification, and inactivity fees. In 2023, the KSA levied a much larger fine of €12.6 million due to repeated violations despite prior penalties. Following these regulatory actions, the websites were made inaccessible in the Netherlands.

Allegations against individuals within this network include links to criminal activities. Ivan Montik and his associates, such as Roland Yakovlevich Isaev and Paata Gamgoneishvili, have been connected to illegal activities, including drug trafficking, Forex scams, and unlicensed gambling. Despite public disassociation from these activities, financial transactions suggest ongoing ties to criminal organizations. Reports indicate that SoftSwiss and its affiliates may resort to bribery to evade regulatory scrutiny and mitigate legal consequences.

Unanswered questions persist regarding the oversight of profits claimed by these companies, which amount to €13 billion. Concerns arise about who supervises these financial activities and whether there are hidden connections between these profits and illegal operations. Furthermore, there are inquiries about the future regulatory actions that international authorities will take to address the activities of SoftSwiss and its network, especially considering how these companies continue to operate despite mounting fines and evidence of misconduct.

In conclusion, the network involving SoftSwiss, CoinsPaid, and associated entities illustrates the complex intersection of online gambling, cryptocurrency processing, and organized crime. While fines and legal actions have been imposed in jurisdictions like Australia and the Netherlands, the broader network remains operational, highlighting the urgent need for more rigorous international oversight.