Internet Poker Rat Under Investigation for Fraud Down Under

Written by:
C Costigan
Published on:
Internet Poker Rat

Australian authorities are said to be investigating notorious informant Daniel Tzvetkoff for fraud.

The one time payment processor is believed to have worked closely with US federal authorities in bringing down three of the world’s largest online poker rooms.  All three are still operating in some capacity outside the US, though only PokerStars has paid its stateside clients in full to date. 

Asher Moses of the Sydney Morning Herald reveals:

Tzvetkoff, 28, who at his peak in 2008 was worth about $80 million, was arrested in April last year while attending an internet billing conference in Las Vegas, charged with being the mastermind of a $US540 million money-laundering racket.

If Tzvetkoff returns to Australia after helping the FBI with its case he could face serious charges over his Australian company BT Projects - the Australian arm of the online payments company that made him rich, Intabill.

Documents seen by this website show the Australian Securities and Investments Commission (ASIC) has been investigating BT Projects and Tzvetkoff over fraud and falsification of books. ASIC refused to comment.

It is understood that ASIC's investigation continued from claims made by Tzvetkoff's former business partner Salvatore "Sam" Sciacca, who sued Tzvetkoff for $100 million after realising the extent of the IT whiz's illegal activities.

The lawsuit has been stayed after Tzvetkoff's arrest by the FBI. He has filed for bankruptcy but is believed by authorities to have a secret stash of $100 million.

Moses also notes that Tzvetkoff is alleged to have diverted funds payable to Intabill in order to cover personal expenses as well as to buy goods and services for his own benefit without authorisation from the company.

- Christopher Costigan, Gambling911.com Publisher

Poker News

Day 1A of VenomPKO Was Intense

Day 1A of VenomPKO Was Intense

Day 1A of the highly anticipated VenomPKO is in the books and Americas Cardroom was promising even bigger things for Monday

Poker Pro Sam Grizzle Dies of Stroke

Poker Pro Sam Grizzle Dies of Stroke

"At least he went out on top," poker pro Mike "The Mouth" Matusow commented upon hearing that fellow pro Sam Grizzle died from a “massive stroke and brain aneurysm" Monday afternoon.

Midway Poker Tour Founder Daniel Bekavac in Hiding?

Midway Poker Tour Founder Daniel Bekavac in Hiding?

PokerTube.com reported this weekend that Midway Poker Tour founder Daniel Bekavac appears to have gone to ground and nobody has any idea where he is.

$5 Million Venom PKO Venom Fever

Americas Cardroom's $5 Million GTD Venom PKO Main Event is the biggest progressive knock out tournament in the history of poker and the tourney is set to kick of October 23rd to November 4th.

Fallout From Midway Poker Tour Fiasco Continues

Fallout From Midway Poker Tour Fiasco Continues

Daniel Bekavac, the founder of the Illinois-based Midway Poker Tour, has been booted from the PokerBros app after it was revealed that players were forced to sign up under Bekavac’s Poker Bros. affiliate code.