Published in Articles

Daniel Tzvetkoff hurts US Online Poker

2011-04-16 10:32 by Olsdog

Formerly known as the "boy genius," IntaBill founder Daniel Tzvetkoff may be the key piece in what toppled the US online poker industry. Last year, Tzvetkoff was arrested by US authorities for money laundering, and was facing 75 years in prison; he couldn't even get bail because the US thought he was too big of a risk to flee the country. However, Tzvetkoff was able to save his own skin by pointing the finger at major online poker sites like Full Tilt Poker and Pokerstars.

Reporter Paul Toohey ran a big story on this whole mess in the Courier-Times newspaper entitled "Web King behind FBI Raids." As the paper reported:

The Courier-Mail reported today that the deal came after Tzvetkoff - a Brisbane boy wonder, who started a company with school mates at 13 - became embroiled in a massive, $543 million stew of money laundering, bank fraud and conspiracy that could bring down the world of online gambling.

Federal prosecutors in New York yesterday charged the founders of the three largest internet poker companies in the US with bank fraud, money laundering and other gambling offenses and are seeking penalties upward of $3 billion.

Federal authorities also froze approximately 76 bank accounts in 14 countries that contain proceeds from the alleged offenses. They also shut down five internet domain names used by the three companies to host their games.

A total of 11 defendants, including the founders of Poker Stars, Full Tilt Poker and Absolute Poker, were named in the indictment unsealed Friday.

The Courier-Mail reported today that two of those companies Full Tilt Poker and PokerStars, had been seeking $100m they believed Tzvetkoff had taken from them.

Once hailed as a genius who was on the fast track to becoming an internet entrepreneur guru, Tzvetkoff will now be known as the guy who ripped off both Full Tilt and Pokerstars, then brought them and the rest of the US online poker industry to its knees by ratting poker sites out.

Sure the US had been building a case against online poker rooms for a while, but Tzvetkoff sped things up with his willingness to narc on anybody and anything in an effort to save himself. If you'd like to read the rest of Toohey's article, here it is .


More Articles

The World's Coolest Poker Stories - Jordan Young 
Phil Hellmuth Charity Poker Tournament 143 days ago In August of 2010, Jordan “Jymaster11” Young completed one of the most amazing feats in poker history. First, he won the Full Tilt Sunday Brawl along with $104,951, before following up this up with a victory in the Full Tilt Sunday $750,000 Guarantee for $132,787.50 - both on the same day! Between the two tournaments, Young beat out 6,0... Read more
Michael Mizrachi offers Interesting Poker Strategy 
Phil Hellmuth Charity Poker Tournament 451 days ago Most common poker strategy advocates that new players start out in the lower stakes and work their way up. The idea is that you'll lose less money/have a better chance of winning by playing against worse competition. However, Michael Mizrachi has a totally different thought on the matter: "I wouldn't start low stakes, I would start at maybe... Read more
Phil Ivey Flirting and Living Wealthy Lifestyle 
Phil Hellmuth Charity Poker Tournament 468 days ago Given that Phil Ivey has won millions in juicy cash games, over $21 million in live tournaments, and earned a fortune through his old Full Tilt Poker sponsorship deal, it doesn't take a genius to realize that he's rich. But just how deep does his wealth run? Well a Playboy Magazine feature offers a lot of insight into Ivey's high-roller lifestyl... Read more
Top 3 Texas Hold'Em Tips for Online Beginners 
Phil Hellmuth Charity Poker Tournament 481 days ago Whether you play online or at a casino, poker is a game that can take many years to master. There are several substantial differences between the two game formats. And with its realistic landscape and facial features, [urln][/urln][titlen]PKR poker is one of the best versions of the online game that you are ever going to play.[/ti... Read more
Poker Winnings help Max Altergott travel the World 
Phil Hellmuth Charity Poker Tournament 510 days ago Many people who get into online poker dream of one day earning fame, fortune, and the financial freedom to do whatever they want. Germany's Max Altergott is one of the lucky players who've managed to spin their humble poker beginnings into a pretty sweet life. Through a segment with PokerStars, Altergott discusses how his early poker days were s... Read more
Top 10 Poker Rooms  |  View all Poker Rooms
1 Redbet $2500 Bonus Read review
2 PokerStars $600 Bonus Read review
3 Titan Poker $2000 Bonus Read review
4 Full Tilt Poker $600 Bonus Read review
5 BetOnline Accepting US players $900 Bonus Read review
6 Americas CR Accepting US players $1000 Bonus Read review
7 Bodog Poker Accepting US players $1000 Bonus Read review
8 24hPoker $500 Bonus Read review
9 888 Poker $400 Bonus Read review
10 myBet $600 Bonus Read review

admin Welcome to our newest member aarongibson
2015-11-16 13:32
admin Welcome to our newest member tomjerry
2015-11-15 01:47
admin Welcome to our newest member chad75198
2014-09-20 19:02
admin Welcome to our newest member oobilly
2014-05-23 18:46
admin Welcome to our newest member akudisini
2014-03-29 10:18
Shoutbox history  |  Friends with Poker Hands Ranking  |  All Rights Reserved. © 2010-2015