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Payment Processor Daniel Tzvitkoff Released From Jail

By Scott Carlson, Rakeback.com Staff Writer

Daniel Tzvitkoff, who was arrested back in April in Las Vegas on numerous charges, was released from prison on bail according to the Australian Courier-Mail newspaper. Tzvitkoff, 27, was charged in the Southern DistricDaniel Tzvitkofft of New York with money laundering, conspiracy to launder, fraud and conspiracy to defraud. The charges stem from Tzvitkoff's company, Intabill, who processed payments for online gaming companies.

News of the release came shortly after former Full Tilt Poker employee Jason Newitt was subpoenaed to appear in the same Southern District of New York court. It is rumored that Tzvitkoff is cooperating with authorities in order to gain his release. When he was first arrested back in April he was denied bail because authorities believed he was a flight risk. The US Department of Justice has refused to comment on the terms of the release though.

Before Tzvitkoff was arrested it was reported that his company owed online poker sites approximately $30 million, including PokerStars who was owed approximately $25 million. Tzvitkoff's personal fortune was said to be as high as $82 million less than a year before his arrest. He is now bankrupt.

If Tzvitkoff is cooperating with authorities the noose around Full Tilt founders Howard Lederer and Chris Ferguson necks could be tightening.

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