Fallen Gold Coast online gambling tycoon avoids jail in the US

FALLEN Gold Coast tycoon Daniel Tzvetkoff has been rewarded for agreeing to become an informant for the US Government.

The IT whiz-turned-jailbird has avoided a longer stint behind bars after providing information to help in the closure of the multi-billion dollar US online gambling industry.

This morning Tzvetkoff, 31, was sentenced in a New York Court to time already served, ordered to forfeit $US13 million ($A14 million), but is free to return to Australia.


NineMSN reports, he was originally facing a 75-year term in the US for bank fraud, money laundering and conspiracy to operate an illegal gambling business when arrested in a Las Vegas casino in 2010, but his fortune changed when he became an informant for US prosecutors.

A probation report recommended Tzvetkoff serve between six and 12 months jail.

US District Court Judge Lewis Kaplan agreed with Tzvetkoff’s lawyer, Robert Goldstein, he should only be sentenced to the four months in prison in Las Vegas and Brooklyn he already endured after his arrest.

Tzvetkoff’s Queensland online processing company, Intabill, illegally processed more than $US1 billion in US transactions for online gambling websites PokerStars, Full Tilt Poker and Absolute Poker, according to court documents.

Less than a year after Tzvetkoff agreed to work with prosecutors, the US authorities shut down the three operations.

At the height of his fortune, Tzvetkoff owned a Gold Coast mansion, exotic sports cars and his own V8 Supercar racing team.