As much as poker players probably don’t get excited about hearing negative news about their industry, when Australian based online payment processor, Daniel Tzvetkoff, was arrested on 4/16 in Las Vegas, there were some satisfied poker customers abound.
Tzvetkoff was the co-founder of Intabill, a poker payment processing company, since 2008. Through various business dealings the company ran up high amounts of debt to include over $30 million spread out to four different poker sites. Although he had declared bankruptcy with this portion of his business, Tzvetkoff still held interests in other off shore processing businesses which landed him in Las Vegas this past week for several conferences.
It has been speculated that several online poker players with whom he owed money to spotted him and contacted the FBI of his whereabouts. Tzvetkoff has been arrested and if found guilty of charges such as money laundering and fraud he could face up to 75 years in federal prision.