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Online Gambling Processor Daniel Tzvetkoff Likely To Get Reduced Sentence

Written by:
C Costigan
Published on:
Sep/28/2010
Daniel Tzvetkoff

 

Citing a recent case against Canadian online gambling payment processor Douglas Rennick, The Australian newspaper suggested that Aussie Daniel Tzvetkoff could be looking at a similar sentence in the U.S. since both men are essentially charged with the same crime, money laundering and fraud.

Rennick originally faced up to 55 years in prison.  Instead he received six months home detention.

Tzvetkoff, who was picked up in the States while attending a Las Vegas conference, had been awaiting trial in a New York prison.  A judge allowed him out on bond two weeks ago.  Tzvetkoff must remain in home custody with his sister in the U.S. while awaiting his sentencing.

From The Australian:

The case against Rennick mirrors the one against 27-year-old Mr Tzvetkoff, who just a few years ago held the crown as one of Queensland's most successful young businessmen with an estimated personal fortune of more than $80 million.

The Australian business magnate faces up to 75 years in prison but his legal counsel will likely point to the Rennick case in getting a reduced sentence. 

Online gambling operators have little sympathy for Tzvetkoff, who some claim scammed them out of millions.  

Rennick reportedly processed around $US300 million while Tzvetkoff is accused of processing some $US500 million.

Aaron Goldstein, Gambling911.com 

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