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To Flighty Says NY Court

The Tzvetkoff case in the US has taken an interesting turn this week as a New York court decided to reverse the decision of the Las Vegas courts and revoke Tzvetkoff’s bail on the grounds that he is, actually, a serious flight risk. Tzvetkoff is accused of processing payments between the offshore online casinos and US players, Tzvetkoff denies these claims but was arrested in Las Vegas last month. The Las Vegas courts heard this argument and yet decided that if Tzvetkoff turned in his passport he would have the right to travel overland with his father from Las Vegas to the US and then take up residence in New York until the trial.

The Las Vegas courts heard the flight risk concerns and yet agreed that Tzvetkoff’s father could put his house up as assurance that Tzvetkoff would not flee the country. Tzvetkoff though is now in the New York court system and the courts are currently in the process of deciding whether he must stay behind bars or can go on house arrest. The seat of all of the online casino gambling prosecution has taken place in New York and the court system there is more sensitive to the flight risk possibilities.

In addition to claims that his payment processing company violated the UIGEA and processed payments between US players and offshore online casinos, Intabill, Tzvetkoff’s company, went under last year for insolvency and owed more than $80 million at the time. There are claims and speculation that Tzvetkoff actually has more than $100 million stashed away in offshore accounts and the US plans to get to the bottom of the situation while they have Tzvetkoff in custody – if convicted of the allegations against him Tzvetkoff is facing up to 75 years in prison.