Australian businessman arrested in U.S. for violating UIGEA

The authorities in the U.S. go through much trouble to detect and punish companies and individuals involved in illegal online casino gambling, unfortunately there is no clarity in the legislation about what is illegal gambling. Yet that does not stop the government from arresting the 27-year old businessman and founder of Full Tilt poker and other poker sites payment processor Intabill, Daniel Tzvetkoff.

Tzvetkoff was arrested in Las Vegas while visiting a conference about payment processing on the Internet. He was indicted for money laundering, fraud, illegal gambling and conspiracy. Intabill has done very well for a time and brought in 100 million dollars per year in revenues with a customer base of 50.000 customers. But thanks to poor financial management and corruption, the company got into trouble in 2009 and eventually gave up. At that time, gamblers and online casinos still needed to receive millions from Tzvetkoff. After civil lawsuits were brought against him, he then declared himself bankrupt.

Before Tzvetkoff got arrested, he operated a number of similar businesses, but on a smaller scale. The choice to go to the show in Las Vegas was a pretty bad choice. People who know him say he was discovered at the fair by casino online players and online casino owners who still had to receive money from Tzvetkoff and reported him to the FBI. Tzvetkoff will also face a trial of his former partner, lawyer Sam Sciacca who claims that Tzvetkoff have diverted funds that were intended for the company to pay for his personal expenses.

Tzvetkoff, if convicted could face up to 75 years imprisonment.

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