Online Gambling: Tzvetkoff Charged With Laundering $500 Million

Written by :

Aaron Goldstein

Published on :

16 April, 2010

News broke late Friday that Australian payment processing guru Daniel Tzvetkoff has been indicted on charges for allegedly laundering some $500 million in online gambling proceeds.

In a four-count indictment unsealed in New York on Friday, Daniel Tzvetkoff, an Australian national, has been charged with gambling conspiracy, bank fraud conspiracy, money laundering conspiracy and one count of money laundering.

The US Attorney's office alleges that Tzvetkoff's Intabill Inc. assisted online gambling firms in processing hundreds of millions of dollars in transactions to U.S. gamblers in both 2008 and 2009. The transactions were allegedly disguised so that they would appear unrelated to gambling.

Online gambling companies have accused Tzvetkoff of stealing some $100 million in monies from them.

Aaron Goldstein, Gambling911.com

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