Posts Tagged ‘Kolyma’

Rogue Payment Processor Arrested in Las Vegas
Accused of Laundering Full Tilt, PokerStars, UB Money

First criminal indictment for UIGEA violations

by , Apr 17, 2010 | 4:48 am

Daniel Tzvetkoff, first accused UIGEA criminal: Whoever said being a douchebag was a crime?

Dude … it’s gettin’ hot here in the US … specifically in Las Vegas.

Yesterday federal authorities arrested Daniel Tzvetkoff, a 27-year-old Australian national “on charges that he assisted illegal internet gambling companies by processing approximately $500 million in transactions between U.S. gamblers and internet gambling websites and disguising the transactions to the banks so that they would appear unrelated to gambling,” according to a statement from the DOJ’s Southern District of New York.

Illegal internet gambling companies? Yikes …

Tzvetkoff, as founder of Intabill and ACH System, faces up to 75 years in prison for bank fraud, money laundering, conspiracy to operate and finance an illegal gambling business, and … get this … for processing fund transfers in violation of the UIGEA.

I’m pretty sure that’s the first ever indictment to bring up UIGEA charges.

About a year ago the Australia Courier-Mail reported that Tzvetkoff owed Full Tilt, PokerStars, Ultimate Bet, and Absolute Poker more than $30 million as the overextended, ostentatious Gen-Y tycoon’s personal empire was crumbling. Then, Full Tilt (through Kolyma Corporation) sued Tzvetkoff in Australian Court, saying his company Intabill owed them $52 million.

Before his arrest, he was saying Full Tilt tricked him into a bad deal and his lawyer doublecrossed him. He blamed the economy for a multi-multi-millionaire having to declare bankruptcy earlier this year. More on the pre-arrest rise and fall of an online poker payment processor here.

I mean for chrissakes, he drove a Lamborghini with the license plate “BALLER”! And when a bank repossessed a competitive race car of his, they got everything except its $100k engine, which had been stripped out and hidden.

Click below for the official word from the DOJ:

More…


Poker Still Beating

by , Jun 19, 2009 | 8:06 am

For those who missed it live … here’s yesterday’s Poker Beat podcast to get you through “the grind”, the hump, the “dog days”, whatever you wanna call the Series in mid-June. In this episode, we discuss what a bracelet really means to a guy like Greg Mueller, just how good really is JC Tran, and, in this Year of apparent Multiples, what’s a guy like Roland deWolfe all about? Also … “Full Tilt’s” lawsuit (via Kolyma) vs. an Aruba-Aussie payment processor run by 25-year-old Crocodile D-bag … and “celebrity” tournament director Matt Savage joins us to discuss the TDA Summit — and specifically rule changes related to texting at the table.

The Poker Beat
Huff, Caldwell, Michalski, Nemeth, Wise, Stapleton + Savage
6/18/09

[audio:http://www.pokerroad.com/upload/radio/23/audio/TPB_06_18_09.mp3] subscribe via iTunes

Sorry for the slowdown in getting podcasts to you. For those who can’t always handle semi-informed snarky banter for more than 2-4 minutes at a time and need more vulgarity and shticked-up grit, Tao of Pokerati (brought to you by Dream Team Poker) will also be back very soon.

Bring it!