Tzvetkoff Online Gambling Funds Processor Sentenced

Published Thursday, June 05, 2014 -
Tzvetkoff Online Gambling Funds Processor Sentenced

The brains behind the Intabill money processing firm that ran into trouble with the law in the USA has escaped a lengthy prison term in America. Daniel Tzvetkoff, who is now 31, pleaded guilty to one conspiracy count and one count of operating an illegal gambling business in August 2010. He was arrested by US authorities in a Las Vegas casino in the same year.

The Australian national was sentenced on Wednesday in a New York court room for illegally processing gambling proceeds through US banks for several major online gambling web sites. US District Court in Manhattan Judge Lewis Kaplan sentenced Tzvetkoff to time served and a $13m forfeiture of funds retained. The attorney for Tzvetkoff, Robert Goldstein in a sentencing memorandum said that his client is now working as the chief technical officer for a "respectable organization."

Goldstein also said to the Guardian news,"Daniel is a capable, highly skilled and intelligent young man, and he looks forward to a productive, happy and quiet life with his family." Since Tzvetkoff was detained he has cooperated with a larger investigation into online poker sites. These investigations and his testimony led to criminal charges against the owners of Full Tilt Poker, Absolute Poker and PokerStars. Some of the charges have been resolved since the April 2011 online poker crackdown known as Black Friday occurred. Charges remain pending against three individuals, including Isai Scheinberg, the Israeli-Canadian founder of PokerStars.

PokerStars did agree to forfeit $731 million and took control of Full Tilt Poker in a 2012 civil settlement with U.S. Department of Justice authorities. Absolute Poker has also settled US civil charges.

The Prosecution alleged that Tzvetkoff processed approximately $500m in transactions between American gamblers and online gambling through Intabill, alleging he had disguised the transactions through U.S. banks to make them appear unrelated to gambling. It has not been disclosed where Tzvetkoff will live and work.







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