Daniel Tzvetkoff pleads guilty

May 25th, 2010

The Australian businessman and CEO of Intabill, Daniel Tzvetkoff who was arrested in Las Vegas for money laundering, conspiracy, fraud and illegal gambling while visiting a conference about payment processing on the internet. Pleaded not guilty in his case against de DoJ (department of justice).

The 27-year old Tzvetkoff, accused of processing more then $500 million in online poker transactions will not take the usual route that other victims of the UIGEA have chosen, by pleading guilty to the charges and try to work out a deal with the US government. Instead the brave entrepreneur is facing the fight and will accept the case to regain his freedom and clear the name of his company. Tzvetkoff will base his case around the fact that poker is not a game of chance but a game of skill, and is therefore not gambling. He says the game cannot be compared with games of change such as roulette, because the predetermined factor to win is skill and therefore he is not guilty of processing illegal payments. The US DoJ has reached multi-million dollar out-of-court agreements with online casino operator PartyGaming and a Canadian payment processor, and they brought charges against the CEO of BetOnSports.

This latest case is different, as the business of Tzvetkoff primarily dealt with online poker transactions. And because poker is such a grey area for legislators and especially in the US, the 27-year-old businessman has a fighting chance. He could even win the case, this would be the best outcome since it would be one step closer to legalising online casino gambling altogether and overthrow the UIGEA.