Home / Poker News April 2010 / First UIGEA-related arrest made
First UIGEA-related arrest made
Posted by: James Carter. - Mon, 2010-04-19 03:15
While several people have gotten into trouble in the wake of the 2006 UIGEA for breaching the provisions of the act, none has been formally arrested and charged on UIGEA related basis. None until last Friday, when 27-year old Australian, Daniel Tzvetkoff was arrested in Las Vegas. This guy was no small-time operator by any standards. He is held responsible for processing over $500 million towards online gambling operators in a little over a year’s time, from Feb. 2008 to March 2009.
His problems are far deeper than just the ones linked directly to the UIGEA. He has apparently committed bank fraud and money laundering too in addition to conspiring to operate and to finance an illegal gambling business.
While Tzvetkoff’s situation certainly looks dire, the real question here, as far as the online poker industry is concerned, is about the fallout of the case and about the precedents it would set.
So far, the impact for
online poker operations appears to be minimal. The perpetrator hasn’t been involved in funds transfers for over a year, and no funds were seized in the wake of the arrest that would put online poker rooms in a situation where they would be unable to pay their American customers.
Tzvetkoff’s situation is a special one in light of the fact that he had apparently defrauded the very online poker operations he worked for.
Full Tilt Poker has apparently a bone to pick with him too. Last June, the Kolyma Corporation (representing the interests of Full Tilt Poker) sued Tzvetkoff’s Intabill for $48.5 million, money which the Australian had apparently failed to transfer to Full Tilt, despite the fact that he was supposed to.
Full Tilt is not the only large online poker operation Tzvetkoff owes money to though.
PokerStars and Absolute Poker were left high and dry by the Aussie conman too.
Because of the fact that Tzvetkoff pretty much stole money from the above listed online poker sites, the Poker Players’ Alliance will probably not get involved in the case and it will probably deny support for Tzvetkoff.
