Daniel Tzvetkoff And The Collapse Of Online PokerApril 20, 2011 12:49 pm
Since last Friday when online poker in the US was effectively halted, rumours have been circulating as to who may have been the brains behind the unprecedented seizures of PokerStars, Full Tilt and Absolute Poker by the FBI.
One name which appears top of the chief suspect list is that of the 28 year-old Aussie payment processor called Daniel Tzvetkoff. Last year the Brisbane whiz kid was arrested by the FBI for his part in the processing of over $500 million in illegal transactions for the world’s top online poker rooms over a two year period.
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Facing a possible 75-year in a US prison, it is rumoured the Intabill front man may have then cut a deal with authorities whereby he would educate the FBI as to the intricacies of the illegal processing world in return for his freedom.
As U.S. District Attorney Arlo Devlin-Brown explains: “He knows how to reverse-engineer transactions to determine its original source.”
Consequently, on April 15, 2011, the U.S. Southern District of New York filed indictments against the owners of PokerStars, Full Tilt Poker and Absolute Poker on charges of bank fraud, money laundering and running an illegal gambling business.
Furthermore, 76 bank accounts and five online domain names were seized, with these companies accused of disguising money received from gamblers in the US as “payments to hundreds of non-existent online merchants purporting to sell merchandise such as jewelry and golf balls.”
Ironically, it is rumoured Tzvetkoff using his company Intabill helped process over $500 million of transactions for the major online poker companies, before now revealing the inner workings of their arrangements to the FBI.
The rest, as they say, is US online poker history and has now left over 10 million American online players without any feasible outlets to play at, as well as millions of dollars still frozen in their accounts.
If the rumours prove correct, it appears Daniel Tzvetkoff may well now be the man to take the dubious credit of having brought down the multi-billion dollar US online poker industry.