Daniel Tzvetkoff Turned In By Online Poker Houses
20 April 2010
Daniel Tzvetkoff traveled from Brisbane to Las Vegas for a ten day internet billing conference. He was arrested by U.S. authorities on Friday, charged with money laundering, money laundering conspiracy, gambling conspiracy and bank fraud conspiracy. If convicted on all charges, he faces up to 75 years in U.S. prisons.
He will have a bail hearing on Wednesday. We will let you know how that goes.
The U.S. Attorney’s office estimates he helped online gambling companies launder upwards of $540 million (U.S. currency) into offshore accounts. It is alleged he tricked banks into believing that the gambling transactions were really ordinary transactions. He then used what is called the “Automated Clearing House System” and ran hundreds of millions of dollars between the U.S. banks and a web of companies located in the British Virgin Islands.
It is believed that he was turned in by several people to whom he owed tens of millions of dollars. A former associate said that Daniel went to the U.S. and had no problems getting in, but was seen wandering around the conference sort of thumbing his nose at some of the people he owed large amounts money to. That caused them to get in touch with the FBI”.
Tzvethoff ran BT Projects Pty Ltd, a company located in Brisbane. A subsidiary, Intabill, was an online payment processing company. The company went bankrupt last year and was placed in liquidation, with debts estimated as high as $80 million. He has continued running a consulting and billing business. At its peak, Intabill employed 120 people.
His former business partner had filed a $100 million lawsuit against him for diverting company funds to cover his personal expenses. The business scheme was outlined in a series of emails that FBI was able to obtain, and which are spelled out in the 15 page indictment.
Tzvetkoff has an 8 month pregnant girlfriend in Australia. Nicole Crisp and Tzvetkoff also have a three year old son together.
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