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Online Gambling Entrepreneur, Daniel Tzvetkoff, Gets Bail; Awaits Trial in New York

23 April 2010 by Devon Chappell

Contrary to the predictions of his own lawyer and against the wishes of U.S. prosecutors, Daniel Tzvetkoff, the 27-year old Australian entrepreneur who was arrested in Las Vegas on charges of bank fraud, money laundering, and illegal online gambling activities (all of which I pretty much thought was illegal in the U.S. anyhow), has posted bail on account of his father, Kim Tzvetkoff, who travelled from Brisbane, Australia to appear before a Judge and put his $1.17 million house up for bond.

Appearing before US Federal Court Judge Peggy Leen, Kim Tzvetkoff said he understood the implications of his son not showing up for his court appearance, i.e, losing his house. He also said he would carry out the Judge’s orders and drive his son from Las Vegas to New York, where Daniel Tzvetkoff will wear a GPS tracking bracelet and abide by a curfew as he waits for his trial (date yet to be determined).

While granting bail to a U.S. citizen in the same circumstance would be a no-brainer according to Judge Leen, she cautioned that Tvetkoff’s release into his father’s custody could be delayed for several days as an immigration detention order is still being imposed and would have to be fought by Tzvetkoff’s lawyers. In the meantime, Tzvetkoff remains in custody at the Las Vegas Detention Center, which to Tzvetkoff’s good fortune, is where white collar criminals are held – separate from State criminals being held on charges of robbery, drugs, rape and the like.

Although prosecutors argued in the bail hearing that Tzvetkoff could serve at least 24 years in prison for his crimes and would likely flee to anywhere in the world and set up online businesses once again, Tzvetkoff’s defense attorney, Robert Goldstein, argued that his client had no criminal record, was just a kid who started his first internet business inside the basement of his parent’s home, and furthermore, that Tzvetkoff had legitimate concerns for the health of his seven-month pregnant wife, who will evidently be staying with Tzvetkoff in New York as he awaits his trial.

Judge Leen was obviously won over by the latter, granting Daniel Tzvetkoff a little more freedom before it is likely taken away at the outset of his trial. However, contrary to some earlier reports that Tzvetkoff could face up to seventy-five years in prison, considering the fact that illegal gambling is considered a misdemeanor in the State of New York, Daniel Tzvetkoff is more likely to face 10-16 months in prison – still a long way off from the days of unbridled luxury living, sports cars, yachts and fancy mansions.

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