Poker payment processor arrested in Las Vegas

Posted by Steve Ruddock on Apr 19, 2010 Posted in Poker Industry News | No Comments »

27 year-old Daniel Tzvetkoff was in Las Vegas attending a 10-day conference when at least one poker player spotted him and tipped off the FBI. Tzvetkoff who ran the now bankrupt Australian payment processor IntaBill was left with debts totaling around $80 million when his company went belly-up, owing some $30 million of that sum to online poker sites. It was likely someone in this latter group that spotted him in Las Vegas and got word to authorities.

Tzvetkoff was charged with a number of crimes including bank fraud, money laundering, and processing illegal online gambling transactions. Tzvetkoff is facing up to 75 years in prison if convicted of the charges.

The US Department of Justice had this to say about Tzvetkoff and the investigation: “Tzvetkoff and his co-conspirators created dozens of shell companies with names unrelated to gambling – complete with phony websites that made the companies seem legitimate – and represented to banks that the… transactions were on behalf of these companies.”

“On May 3, 2008, one of Tzvetkoff’s co-conspirators in an email told Tzvetkoff that he had hired programmers to develop ‘unique’ websites for the shell companies so that if someone was ‘checking the companies out there is absolutely no way to tie the companies together.’ Tzvetkoff responded: ‘This is all perfect!”

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