Online Poker Processor Daniel Tzvetkoff Out On Bail

Online gambling processor Daniel Tzvetkoff was mysteriously released from a US federal jail on August 23 pending his court trial in June 2011.
He was apparently ‘secretly’ released on bail in a closed court session before a federal magistrate, and his whereabouts are being kept a closely guarded secret.
Although the Department of Justice would not confirm the details, a spokesman for the department simply stated that; “He was released on bail on that date (August 23).”
Australian businessman Tzvetkoff, 27, is currently facing up to 75 years in jail after being accused of illegally laundering $550 million in online gambling transactions between February 2008 and March 2009.
Tzvetkoff’s scheme then came to an end after the online gambling websites accused him of stealing over $100 million of their money. The tycoon who once boasted an $82 million fortune is now believed to be bankrupt.
Speculation would seem to suggest that Daniel Tzvetkoff has decided to cooperate with the authorities as an informant after agreeing to a plea deal. In return for being released to a ‘safe house’ and a future lenient sentence, FBI agent of 10 years Harold Copus believes Tzvetkoff would now be helping the FBI to bring ‘bigger fish’ to justice.  He would also be required to teach FBI agents at Quantico about his various intricate schemes.
“He’s turned the corner, seen the light and is co-operating,” said Mr Copus.
Despite being currently out on bail, Kim Tzvetkoff posted a $1.5 million surety on his son’s behalf back in April, and his son will not be permitted to return back to Australia in the meantime. As criminal defence lawyer Tom Engel explains:
“The amount he’s supposedly frauded people of, $500 million, [means] he faces an extraordinarily high sentence so they’d want a high level of bail to ensure he doesn’t [abscond].”