ONLINE GAMBLING PAYMENT PROCESSOR BEING SUED FOR $52 MILLION.
Daniel Tzvetkoff an internet payment entrepreneur who’s online billing and fraud detection system, Intabill, has made him a staggering $120 Million is now being sued for $52 million by an online gambling company Kolyma Corporation AVV. Kolyma claims that payments amounting to $43Million have not been passed on, the running figure, taking interest into account has been increasing by a total of $13,532 per day. The company, registered in the former Dutch colony of Aruba, operates a site called Full Tilt Poker, an extremely popular and massively lucrative online gambling website.
Queensland resident, Tzvetkoff, has received notice of action taken against him from Brisbane’s supreme court. The suit names Intabill (registered in the British Virgin Islands) and the Australian holding company BT Projects. It also names Mr Tzvetkoff and his partner Mr Sciacca who have previously given a guarantee that Kolyma would be paid the money it was owed by Intabill.
To date Intabill has had in excess 5000 customers in 70 countries throughout the world. More than half of its revenue originates from online gambling sources with the payments from just one company being around $150,000 per day.
The flamboyant 25 year old has been in the media repeatedly due to his extravagances, purchasing a $27 Million mansion at Mermaid beach, Australia. He also drove a black Lamborghini Gallardo, private number plate BALLER and also owned, among other vehicles, a Ferrari 599, an Audi S6, Range Rover and a Ford GT40 as a luxurious yacht.