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Online Casino Payment Processor Granted Bail
LAS VEGAS, NEVADA --
An Australian who was arrested on money laundeing charges in Las Vegas related to online casino payments was given bail this week. US authorities were unsuccessful in convincing a judge that Daniel Tzvetkoff should be denied bail while awaiting trial for paying hundreds of millions of dollars to US residents from Internet gambling sites.
Representatives of the Justice Department said Tzvetkoff may still have access to as much as $100 million, and could use the money to flee to a country without extradition treaties with the US. But Judge Peggy Leen accepted the $1.7 million home of the Australian's father as security against potential flight.
Lenn said US authorities were basing their case against bail entirely on Tzvetkoff's foreign citizenship.
"If he was a US citizen this would be a no-brainer," said the judge. "He would be released."
Tzvetkoff was arrested last week in the ongoing case against Automated Clearing House, one of the payment processors US law enforcement attacked in the seizure of bank accounts over the last year. Prosecutors contend the accounts were used to pay gamblers at online casinos and Internet poker sites, and confiscated hindreds of millions of dollars before the money could be dispersed to patrons of online gambling.
Ironically, Tzvetkoff is accused by his former employers of having embezzlede over $100 million while covering the movement of their funds.
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