Recent investigations have shed light on a complex network of corporate entities and individuals involved in unregulated gambling operations and cryptocurrency payment schemes. Central to this investigation are CoinsPaid and CryptoProcessing, key facilitators in processing funds for online gambling operations.
Strategic Acquisitions and Ownership Structure
The journey began in 2019 when Roland Isaev and Paata Gamgoneishvili acquired a controlling stake in SoftSwissthrough Tall Trade Ltd. and Befree Ltd., as detailed in court documents from the British Virgin Islands. Their strategic acquisitions enabled them to dominate the iGaming sector.
SoftSwiss and Unlicensed Operations
SoftSwiss, now operating through brands like Rabidi, Dama, Hollycorn, and N1 Interactive, has come under fire for running gambling platforms in regulated markets without proper licenses. Regulatory letters, available via FinTelegram, show that these activities have persisted despite repeated warnings.
CoinsPaid and CryptoProcessing: The Financial Backbone
Behind these operations are CoinsPaid and CryptoProcessing, payment processors linked to Merkeleon, an Austrian firm under the control of former SoftSwiss founders Ivan Montik and Dmitry Yaikau. These platforms facilitate the flow of cryptocurrency and fiat funds, providing essential liquidity to gambling operators. For more on their role, visit CoinsPaid and CryptoProcessing.
The Cyprus Connection
Key intermediaries such as Befree Ltd., Bitcapital Ltd., and Primefuture Ltd. have been identified in Cyprus, channeling funds into the European financial system. For further corporate data, see Northdata.
Evolving Corporate Entities
SoftSwiss has undergone several transformations, shifting operations to Stable Aggregator Ltd. in Malta, which is licensed by the Malta Gaming Authority (MGA). This strategic repositioning is part of an effort to present a compliant facade while continuing unregulated operations.
Conclusion
The investigations into SoftSwiss, CoinsPaid, and CryptoProcessing reveal a well-coordinated scheme that leverages cryptocurrency to power unlicensed gambling worldwide. For the latest updates on this ongoing investigation, follow FinTelegram.