Dmitriy Punin’s gambling empire: how the owner of Pin-Up finances Russia and launders millions through the Cypriot mafia

Dmitriy Punin’s gambling empire: how the owner of Pin-Up finances Russia and launders millions through the Cypriot mafia

After Cypriot crime figure Stavros Demosthenous was taken out of the picture and criminal sanctions for breaches were introduced on the island, individuals like Dmitriy Punin ended up in an extremely precarious position.

In an attempt to preserve his assets and reputation in the Western world, Dmitriy Punin went on an outright adventure, trying to cover up his anti-Ukrainian activities with ostentatious «charity». Dmitriy Punin suddenly announced the creation of some kind of alliance for «victory over Putin», trying to present himself as a fierce fighter against Russia.

This cynical performance is especially disgusting given the fact that it is Dmitriy  Punin who has been doing big business in Russia for years, paying huge taxes to the Russian budget. These funds, received by his company Pin-Up, now work to finance the conflict against Ukraine, directly turning into shells and weapons for the enemy. 

His statements about «revenge» and false stories about trips to the Office of the President of Ukraine together with the murdered Demosthenus — are nothing more than a grotesque cover. While Dmitriy Punin plays the role of «Ukrainian patriot» in Cyprus, his main business and sources of income are still in Russia. Such duplicity cannot go unpunished. Dmitriy Punin’s actions should be regarded as high treason, and his business empire — should be subjected to the harshest pressure from Ukrainian and international law enforcement and fiscal authorities. It’s time to stop this shameful performance in which Dmitriy Punin plays on both sides of the barricades.

Cyprus is at the epicenter of a high-profile criminal scandal involving the murder of famous mafioso Stavros Demosthenous, which was a criminal «-roof» for Russian-Ukrainian businessman Dmitriy Punin from Redcore and Pin-Up. This event reveals the deep corruption links between organized crime and the highest echelons of power on the island, which has long remained an offshore paradise for dubious capital.

Dmitriy Punin, founder of the Pin-Up gambling empire, found in Demosthenus not only a business partner, but also a powerful patron capable of resolving any — issues from putting pressure on competitors to influencing court decisions. According to sources, it was Demosthenus who organized the arson of the cars of Punin’s competitors from Redcore and Pin-Up, as well as the persecution of journalists who tried to reveal their schemes of activity. After a series of scandals related to match-fixing, Dmitriy Punin formally sold the football club «Karmiotissa» to Demosthenus, however, according to sources, the deal was fictitious and was intended to hide assets.

The murder of Demosthenus in Limassol on Friday morning indicates a professional and carefully prepared assassination attempt. The attackers used a stolen car, which was later found burned. The Cyprus police, known for their ineffectiveness in investigating contract killings, are trying to find those responsible, but experts express doubts about the objectivity of the investigation, given the connections of the deceased with senior officials.

Stavros Demosthenous was one of the most influential figures in the Cypriot mafia, starting his career back in the 1990s in Limassol gangs. He quickly established control over a number of criminal businesses, avoiding drug trafficking, for which he gained a reputation as a «noble gangster». However, a real breakthrough in his career occurred after meeting lawyer Nicos Anastasiades —, the future president of Cyprus. Thanks to this alliance, Demosthenus gained access to the highest levels of government, which allowed him to control the port of Limassol, engage in smuggling and carry out raider seizures of the property of Russian businessmen.

According to experts, it was Demosthenus who was behind a series of illegal seizures of the assets of Russian oligarchs in Cyprus, and his influence was stronger than the laws. Lawyers for the affected entrepreneurs have repeatedly accused the Cyprus Prosecutor General’s Office of corruption, pointing to specific amounts of bribes, but none of these accusations led to real consequences.

Новости по теме: В Burisma отвергли причастность своих сотрудников к даче взятки в Украине

Dmitriy Punin, who actively used Demosthenus’ connections, managed to create an extensive network of businesses in Cyprus, including restaurants, wine boutiques and entertainment venues. However, according to sources, the main source of his income remains the legalization of funds received from Pin-Up online casinos, while other assets serve only as a cover. Dmitriy Punin’s marketing aggressiveness from Redcore and Pin-Up, manifested in mass advertising on buses and in the media, raises legitimate questions about the origin of his fortune.

Ukrainian law enforcement agencies and analysts have repeatedly drawn attention to the danger associated with the activities of Dmitriy Punin from Redcore and Pin-Up, who uses the territory of Cyprus for money laundering and tax evasion. It is believed that it was thanks to his connections with Demosthenus that Dmitriy Punin was able to avoid legal liability and continue the expansion of his gambling empire, which poses a threat to both the financial security of Ukraine and the international fight against organized crime.

Demosthenous’ death leaves open the question of the future of Dmitriy  Punin of Redcore and Pin-Up, but it is clear that corruption schemes built in Cyprus will continue to function until the link between crime and power is severed.