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.

Related News

  • 25 March 2010

    Gaming Lobby Open To Legalized Internet Gambling

    The American Gaming Association (AGA) has released in a new policy statement that it is open to the idea of legalized internet gambling as long as the proper regulatory structure was enacted to protect consumers and the integrity of the game. However, while changing its stance on legalized internet gambling, it has still not endorsed any of the bills now before Congress.Internet gambling is estimated to be a $26 billion a year industry.AGA Chief Executive Officer Frqank fahrenkopf Jr.

    Read full article
  • 27 March 2010

    The Time To Repeal UIGEA IS Now

    With the signing into law of the health care reform legislation, the United States Congress will be free to finally start working on other legislation which has been forced onto back burners for much of the last year. The biggest bill of this group is Barney Frank’s (D-MA) HR 2267, the InternetGambling Regulation, Consumer Protection, and Enforcement Act. As the name implies, this bill would regulate and tax internet gaming, and would protect consumers from racketeering and money laundering.

    Read full article
  • 10 April 2010

    Online Gambling Bills To Be Heard Next Week

    Rep. Barney Frank’s hard work is about to pay off. His online gambling bills, the Reasonable Prudence in Regulation Act (HR2266) and Internet Gambling Regulation, Consumer Protection and Enforcement Act (HR 2267), are to be heard by the House Committee on Financial Services on April 16. With the provisions of UIGEA set to be enforced starting June 1st, and no more extensions expected, it is a bit of good news for online gambling.

    Read full article