Ukraine Alleges Tax Evasion By Major Operator

Ukraine's Economic Security Bureau announced today that it has seized UAH700 million ($18.6 million USD) from an online gambling operator after they were accused of tax evasion in the country.

The operator wasn't named by the bureau, but it was revealed that the company does hold a gaming licence in Ukraine. Sources like Forbes and the New Voice of Ukraine claims that the operator in question is Cosmolot. The company stand accused of evading paying UAH1.2 billion in taxes to the country. An investigation into the company found that they were misdirecting payments, and that the group's employees were running unlicenced betting operations, with upwards of 30 similar sites functioning.

Staff from the operator were also found to have been concealing evidence, and hindering the investigation.

For their part, Cosmolot states that the allegations are groundless and that they've already responded to the case in court. A statement from the company read: "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 licence."

The matter has been referred to the Prosecutor General's Office, who're helping regulator KRAIL and the Economic Security Bureau with the case.

Casino Listings News is following the story and will be updating readers as the story develops.

Source: The New Voice of Ukriane