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Monday, September 13, 2010

Australian Gambling Entrepreneur Daniel Tzvetkoff Bailed From Jail, by Greg Tingle - 14th September 2010

The Australian gambling, gaming and casino sector remains on red alert with the release from jail of Aussie gambling and technology sector tycoon, Daniel 'Transactions' (Media Man tag) Tzvetkoff. Media Man and Gambling911 continue to keep you informed with the news you need to know...

The once ultra successful Australian gambling and tech tycoon Daniel Tzvetkoff has been released on bail from a New York remand centre in a deal those close are calling "secret".

The whiz kid wunderkind Gold Coast entrepreneur was freed post closed hearing before a federal magistrate.

Rupert Murdoch's News Limited papers learned he entered a plea deal to a serious criminal charge back on on 23rd August. Time flies when your having fun - not.

The ugly details do not appear on official public records, which could very well suggest he is co-operating with prosecutors who are enjoying their "crackdown" on "illegal online gambling".

Specialist legal eagles have been busy in and around the sector for a number of years with clients including names such as PartyGaming, Virgin Games, PokerStars, World Poker Tour, Harrah's Entertainment, Station Casinos, Full Tilt Poker, 888 and even Media Man.

The now bankrupt Tzvetkoff, who once amassed a $82 million or so fortune, had been charged with money laundering, conspiracy to launder, fraud and conspiracy to defraud. No readers, no murder or manslaughter chargers. We're just checking if your still awake and with us on this.

The numerous charges relate to more than half a billion dollars worth of "transactions" he processed from allegedly illegal online gaming sites in the US. The rumour mill says those sites include PokerStars and Full Tilt Poker, with some suggestion Bodog may be linked into the Pandora's box. On the other hand, world's leading igaming company, PartyGaming, came to terms with the United States Department of Justice in a multi million dollar deal, and is currently looking to re enter the lucrative U.S market.

The 27-year-old was known to be quite the showoff - look at me type, with fancy and loud cars, boats, waterfront mansion at Surfers' Paradise, an interest in motorsport and all sorts of other big boys toys.

His fiancee had a child in Australia, which Daniel was not able to watch mature, due to his incarceration.

Tzvetkoff was arrested in down town Las Vegas back in April, thanks to a tip off from pissed off folks owned big money, and later denied bail by a New York federal judge who thought he had hidden lots of moolah to finance an escape from the US once free. Sort of like 'Catch Me If You Can', but in real life.

The US Bureau of Prisons advised he was no longer locked up and probation officials confirmed he had been bailed leading up to his trial, which is scheduled for June next year. The trail will be must watch material for anyone who has an interest in the igaming, gambling or larger technology sector.

"He was released on bail on that date (August 23)," said a spokesman, though the US Department of Justice would not confirm the development.

Tzvetkoff's bail terms are likely to involve GPS monitoring and house arrest, restrictions his lawyers suggested in his prior bail application. He likely has an unwanted anklet - chain around his ankle, and if not there, wrist or neck.

The once wunderkind who used to fly by private jet... understood without alerting US Customs officials as required by law...is also extremely likely to have forfeited his passport.

The US Attorney's Office is cracking down on some online gaming firms in the US, but appears to be picking its targets strategically.

In other legal news, Canadian Douglas 'Rip Off' (MM tag) Rennick, of Vancouver, is to be sentenced this month for assisting illegal gaming operations by moving $US350 million ($375 million) into the US from gambling hub Cyprus.

UK's BetonSports chief David Carruthers was arrested as he tried to leave the US for Costa Rica in 2006. Yep, his winning streak came to an abrupt halt. He was locked up for 33 months after pleading guilty to conspiracy to violate anti-racketeering laws.

At the time of publication Tzvetkoff's lawyer had not return calls.

Tzvetkoff's apprenticeship in the tech sector included processing large amounts of money via transactions that were riding off the back of the lucrative porn industry.

Media Man and Gambling911 have thought up a new theme song for 'Our Daniels' upcoming media appearances' - JAILBREAK, by legendary Aussie rockers AD/CD. After further discussion a back up track was selected - JOHNNY B. GOOD. Punters, a friendly reminder - If betting, bet with your head, not over it, keep it legal, and have fun.

*Greg Tingle is a special contributor for Gambling911

*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming.

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