Daniel Tzvetkoff Admits A Stash of 50 Million in Las Vegas

Published Friday, November 05, 2010 - Online-Casinos.com

The hits keep coming in the case of money processing entrepreneur Daniel Tzvetkoff the young Australian with lots of money that was busted while visiting America.
At first Tzvetkoff was granted bail by the American justice system and then that was revoked because he presented too big a risk and that he would jump bail and return home.
American authorities were in a forgiving mood it seems when they decided to finally grant him bail.
In April of 2010 Tzvetkoff was arrested in Las Vegas on charges of money laundering with the Justice Department alleging he had processed $500 million in alleged online gambling payments between major online poker firms and players in the USA.

Now after being incarcerated for over five months, c has broken his silence and has spilled the beans to authorities that he has $50 Million hidden in a Las Vegas payday lender account. The charges that Tzvetkoff faces can land him in the slammer for a good long time 75 years for starters. It looks like the once fast moving money man has made a deal that has implicated a payday money lender called Hugo Services. The company has the 50 million dollar stash that Tzvetkoff set up in June of 2008. BT Projects lent 27 million dollars to the Service Company which grew by twice it’s original value by March of 2009. That money hasn’t been touched since the account was closed back then.
Now it’s a race to see which of Tzvetkoff ’s creditors will get to the cash before the FBI seizes it for the government. Full Tilt Poker claims they are owed more than $60 million that was in Tzvetkoff hands when he closed up shop. Tzvetkoff’s former partner Sam Sciacca has filed a lawsuit against Tzvetkoff for over $110 Million. There is speculation that there may be millions more dollars hidden away from the FBI and other creditors. Online gambling firms are still the subject of investigation by Treasury Department Officials and the FBI in the USA even though no actual proof has been established.

 

 


 

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