Daniel Tzvetkoff Receives Time Served on Black Friday Charges

Daniel Tzvetkoff, one of the defendants charged on Black Friday, will not be required to serve additional jail time. The former Australian payment processor recently pled guilty to a single charge of running an illegal gambling business. The judge has agreed to let him off with time served and a $13 million fine.

Tzvetkoff was charged with wire fraud in 2010. The Department of Justice wanted to file indictments against executives from three of the largest online poker companies and encouraged Tzvetkoff to cooperate with them. Tzvetkoff was facing a 75-year sentence, but struck a deal with the Department of Justice to be an informant against his coconspirators.

The DOJ appreciated Tzvetkoff's assistance in the case and recommended a six to twelve month sentence. However, his attorney Robert Goldstein argued that his client shouldn't serve additional time. Tzvetkoff had already spent four months in federal prison, which Goldstein felt was more than sufficient. US District Judge Lewis Kaplan concurred with Goldstein's recommendation and released Tzvetkoff with time served.

Goldstein had argued that his client had never been in trouble with the law before. He said that spending four months in prison was a very traumatic experience for his client and felt that additional prison time was unnecessary.

Tzvetkoff seems eager to move on from his past transgressions. Goldstein said that his client is currently the Chief Technology Officer for a business in Australia. He hasn't shared the name of the company, but said that his client is working for a legitimate business. He said that Tzvetkoff is a very bright young man with extraordinary potential.