Australian charged with laundering US$500 million for Internet gambling

By Christine Duhaime | April 16th, 2010

The U.S. Attorney’s Office announced today that an Australian foreign national, Daniel Tzvetkoff, was arrested in Las Vegas on charges that he assisted illegal Internet gambling companies process about US$500 million in transactions for American gamblers. An indictment against Tzvetkoff was unsealed in Manhattan federal court today. It alleges that Tzvetkoff operated a payment processing company called Intabill Inc. and convinced banks to provide services to Intabill Inc. through the Automated Clearing House System to Internet gambling companies operating offshore disguising the identity of the recipients so banks would not know they were dealing with Internet gambling companies. Tzvetkoff is charged with gambling conspiracy, bank fraud conspiracy, money laundering conspiracy and one count of money laundering. If convicted, he faces a term of imprisonment of up to 75 years.

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