Australian Man Fined $13 Million for Illegal Online Gambling Practices on Black Friday

Added: June 15, 2014

A 31 year old Australian man, Daniel Tzvetkoff, has just been fined a total of $13 million for the part he played in Black Friday, with regards to illegal online gambling and conspiracy. For those that are new to online poker and online gambling in general, Black Friday was an event that took place around two years ago now, when several large online poker sites were ordered to close down their online gambling service in the USA, and this lead to thousands of people losing money, and many large online poker sites being closed down. Black Friday was well named, it was a dire event fot the global online gambling market.

Daniel Tzvetkoff, pleaded guilty to his involvement in the online gambling debacle that was Black Friday. Back in 2010 this case started, and since this time Daniel Tzvetkoff has avoided jail time in the USA for his illegal online gambling practices. Recognized as one of the main illegal online gambling offenders in Australia, Daniel Tzvetkoff has just dodged a bullet and walked away with only a fine, and no prison sentence for his part in Black Friday that saw the online poker world bought o its knees overnight.

It is said that Daniel Tzvetkoff used his Australian online gambling company to take around half a million dollars in bets, and disguise them as non online gambling transactions. This was of course, illegal. Since he was first arrested back in 2010, as part of the Black Friday roundup, Daniel Tzvetkoff has been heavily investigated.

Robert Goldstein, who is Daniel Tzvetkoff’s lawyer, has said that Judge Kaplan had approved Tzvetkoff’s relocation to Australia, and also went on to comment that, “Daniel is a capable, highly skilled and intelligent young man, and he looks forward to a productive, happy and quiet life with his family.”

This now makes 11 people from the online gambling and online poker industry that have been prosecuted since the events of Black Friday, and this includes key people at Full Tilt Poker and Absolute Poker.

We can only hope that once the dust settles, and each of the defendants have bene processed, that the effects of Black Friday can be left far behind, and that online gambling and especially online poker, can shrug off its bad reputation. Even so, we think it will be some time before online poker is seen as a fully respectable pastime.