A thorough investigation has revealed significant links between the collapsed Wirecard and SoftSwiss, a company based in Berlin and led by Ivan Montik, who was born in Belarus. This report emphasizes SoftSwiss’ substantial involvement in managing illegal online casinos that target players in Germany. The findings illustrate a complex and hidden gambling network that spans across Malta, Cyprus, Curaçao, and Germany.
The investigation highlights several key points. First, SoftSwiss, established by Ivan Montik, is identified as a major player in illegal online gambling, with connections to Berlin. Second, it is alleged that SoftSwiss and its associated entity, Direx N.V. (now known as Dama N.V.), processed over €61 million through Wirecard, making it one of Wirecard’s largest clients prior to its collapse in 2020. Third, official communications confirm that Ivan Montik and Maksim Trafimovich were behind Direx N.V., which operated multiple illegal platforms. Additionally, the investigation uncovered complex ownership structures, with millions being transferred between N1 Interactive Ltd in Malta and Dama N.V. in Curaçao, indicating efforts to hide ownership and avoid taxes. Lastly, the report raises suspicions about Jan Marsalek, a former Wirecard executive and Russian operative, who directly requested sales reports from SoftSwiss.
The narrative surrounding SoftSwiss reveals that Ivan Montik, a German entrepreneur originally from Belarus, currently resides in Berlin, where SoftSwiss also has an office. The company operates under the name Stable Aggregator Limited, previously known as N1 Aggregator Limited, and holds a license from the Malta Gaming Authority (MGA).
The investigation also uncovers a vast network associated with SoftSwiss, which includes companies in Cyprus, Austria, Lithuania, and both North and South America, primarily managed through nominees. This global network is supported by the law firm Revera, where Helen Mourashko, the wife of SoftSwiss and CoinsPaid executive Pavel Kashuba, serves as the partner in charge.
The report indicates that SoftSwiss, through its former entity Direx N.V., has been involved in operating illegal online casinos aimed at German players. Financial transactions worth millions between N1 Interactive Ltd and Dama N.V. suggest intentional efforts to obscure ownership and evade taxes. In March 2023, the Dutch regulator imposed a record fine of €12.64 million on N1 Interactive Ltd for running illegal gambling platforms.
SoftSwiss’s significant relationship with Wirecard is a crucial finding. Insolvency documents reveal that in 2018, SoftSwiss facilitated transactions totaling around €61 million through Wirecard, making it one of Wirecard’s top clients. Emails from Jan Marsalek, the former COO of Wirecard, indicate a close collaboration, as he personally requested financial reports from SoftSwiss in 2020, shortly before he fled to avoid prosecution.
The Australian regulator ACMA has confirmed that Ivan Montik and Maksim Trafimovich were the operators behind Direx N.V., reinforcing Montik’s position as a key figure in this gambling network. These findings are also supported by court documents from the British Virgin Islands, which link Montik and Pavel Kashuba to Befree Ltd, another operator of illegal online casinos based in Cyprus.
Montik’s central role in the SoftSwiss Group and his involvement in founding the crypto payment processor CoinsPaid are also detailed on his website.
The collapse of Wirecard in June 2020 seems to have prompted structural changes within Montik’s network. Around this time, Direx N.V. was renamed Dama N.V., and SoftSwiss’ crypto payment processor, Dream Finance OÜ, operating as CoinsPaid, emerged as a new entity for payment facilitation. This entity is linked to an Austrian company, A.R. Merkeleon GmbH, further connecting Montik to the online gambling and crypto payments sectors.
The investigation highlights the significant role Wirecard played in enabling illegal gambling operations through SoftSwiss. Emails reveal Jan Marsalek’s direct involvement, raising concerns about the influence of Russian intelligence in international payment networks. The downfall of Wirecard in 2020 coincided with major structural changes, suggesting efforts to protect the gambling operations under scrutiny.
Marsalek, who has been identified as a former Russian spy and has evaded prosecution by fleeing to Russia, personally requested sales reports from the SoftSwiss Group in 2020. It remains unclear what his current relationship is with SoftSwiss and Ivan Montik. In this context, Montik and his partner Kashuba sold a 60% stake in the Cypriot company Befree for €21 million in 2019 to Russian entrepreneurs Roland Isaev and Paata Gamgoneishvili.
Previous research has uncovered critical connections between SoftSwiss, CoinsPaid, and illegal gambling platforms operating through Malta and Curaçao. They have obtained a letter from ACMA confirming Montik and Trafimovich’s leadership roles at Direx N.V. Additionally, court documents from the British Virgin Islands reveal that Montik and Kashuba are the owners of Befree Ltd,