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PIN-UP and PINCO: why Kazakhstan has issued a warrant for the arrest of Dmitry Punin and Marina Ilyina

The Kazakh Financial Markets Authority named Punin and Ilina in its wanted notice. We examine the dates, the two separate pairs of wanted individuals, the theory regarding payments, and the difference between turnover and losses.

An editorial collage featuring Dmitry Punin and Marina Ilyina against a backdrop of Astana, relating to the PIN-UP and PINCO manhunt.

30 October 2026 Wanted notices have been issued in Kazakhstan for Dmitry Punin and Marina Ilyina. 4 November The Financial Monitoring Agency (AFM) has published its own statement containing their names and photographs. The agency suspects them of organising the illegal operations of the online casinos Pinco and Pin-Up, which target users in Kazakhstan. This provides further confirmation that the search is specifically for individuals from Kazakhstan: the date the cards were registered and the date of the AFM’s public statement differ. [1] [2]

What exactly did the Financial Markets Authority announce?

The search is being conducted by the Economic Investigations Department in Astana, reports Kazinform, citing the General Prosecutor’s Office’s legal statistics portal. The Financial Market Authority’s statement indicates that both are subject to a preventive measure in the form of detention. The press release itself does not mention their arrest or extradition to Kazakhstan. Nor does it allow us to conclude that there has been a public notice issued by Interpol. At the time of writing, a Kazakhstani source has confirmed the search warrant and the allegations against them, but not a court ruling on their guilt. [1] [2]

Photographs from the Kazakhstan Financial Markets Authority’s wanted notice for Dmitry Punin and Marina Ilyina
Dmitry Punin and Marina Ilyina. Photographs from the official statement by the Kazakhstan Financial Markets Authority dated 4 November 2026. Source.

What does the sum of 106 billion tenge mean?

The Financial Markets Agency describes a chain in which, according to the agency, various companies facilitated the operation of online casinos and the processing of payments. According to the investigation, customers’ funds were accumulated in transit accounts and then converted into cryptocurrency via affiliated companies. In February, the AFM named Gold Pay LLP and Cyber Pay LLP – later renamed Pinnacle Financial Solutions – among the payment organisations involved. These are details from the investigation’s version of events, rather than facts established by the court for each named party. [1] [3]

Over 106 billion tenge — an indicator of the scale of financial transactions, as cited by the Financial Markets Authority. The press release does not specify whether this sum represents Punin’s or Ilyina’s personal income, nor the amount of damages awarded by the court. To compare turnover, income and damages, we need the time frame, the calculation method and the rules by which the investigation ruled out possible repeated transfers of the same funds. The public press release does not provide such a breakdown. [1]

Photo gallery: Dmitry Punin and Marina Ilyina

Dmitry Punin

Dmitry Punin — an archive photograph from a previous article about PIN-UP
Dmitry Punin. Archive photo from a KARTEL KHIMPROM article; in the original publication, the image is attributed to the Ukrainian Ministry of Internal Affairs. Source.

A Russian citizen is named in the AFM’s November wanted notice. The agency described the alleged roles of both individuals in general terms. It is not possible to determine from the press release which specific payments, contracts or instructions the investigation attributes personally to Punin. A previous article by our editorial team examined his mention in publications about PIN-UP and, separately, attempts to challenge those publications. [1] [4]

Marina Ilyina

Marina Ilyina — an archive photograph from a previous article about PIN-UP
Marina Ilyina. Archive photo from a KARTEL KHIMPROM article; in the original publication, the photo was attributed to the Ukrainian Ministry of Internal Affairs. Source.

A Ukrainian national is also named in the AFM’s wanted notice. In its own materials, PIN-UP Global publicly presented Ilina as the CEO and owner of the brand. This confirms her public corporate role. Exactly who managed player services and payments in Kazakhstan remains to be established as part of the specific legal proceedings. No comments from Ilyina and Punin specifically regarding the AFM’s November statement have been found in verified sources. [1] [5]

The February announcement and the Ukrainian verdict: differing statuses

Back on 2 February 2026, the AFM reported that Dmitry Druzhinsky and Marina Levkovich (Ginzburg) were wanted. According to the agency, their role involved coordinating the payment infrastructure and liaising with banks and payment organisations. The November statement concerns a different pair. Marina Levkovich and Marina Ilyina are two different people. [1] [3]

There was a separate Ukrainian investigation: the State Bureau of Investigation (DBR) reported that in July 2025, a court handed down a sentence to the director of Ukr Game Technology LLC, a Ukrainian operator operating under the PIN-UP brand. According to the State Bureau of Investigation, the sentence came into force on 10 August 2025; over 2.8 billion UAH was paid into the budget, taking into account income from the management of previously seized funds. This sum relates to Ukrainian special confiscation and is not comparable to the Kazakhstani turnover of 106 billion tenge. The Ukrainian sentence referred to in the report concerns the director of a local operator. [1] [6]

Which documents to keep an eye on next

The next key milestones will be reports of their actual arrest, a procedural decision to refer the case to court, and documents detailing the roles of each wanted individual separately. For now, the key development is that the AFM has confirmed two new names and revealed which payment scheme it is investigating. Related: our editorial dossier on Marina Ilyina and PIN-UP. [1] [2] [7]

Sources

  1. Kazakhstan’s Financial Markets Authority — official wanted notice, 4 November 2026 ↗
  2. Kazinform — registration of wanted notices on 30 October 2026 and the AFM division ↗
  3. Kazakhstan’s Financial Markets Authority — February statement on Druzhinsky and Levkovich ↗
  4. KARTEL KHIMPROM — a previous article on Punin, Ilina and PIN-UP ↗
  5. PIN-UP Global — Marina Ilyina’s public profile and interview ↗
  6. Ukraine’s State Bureau of Investigation — a sentence against the director of a Ukrainian operator has come into force, along with special confiscation ↗
  7. KARTEL KHIMPROM — previously published material on Marina Ilyina ↗
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