The investigation is on for to try and uncover the funds that jailed internet entrepreneur Daniel Tzvetkoff has hidden away in offshore tax haven bank accounts like Switzerland and in the Caribbean. A US Court has overturned a previous ruling to allow Tvetkoff out on bail fearing that he is of heavy flight risk and could easily find a passage out of the hands of justice if not kept behind bars. The previous bail amount of $540,000 was secured against Tvetkoff’s father’s home in southeast Queensland, but prosecutors have argued this is a very small percentage of money that is hidden in Tvetkoff’s bank accounts.
US prosecutors are investigating a trail of bank accounts of the online gambling funds transfer operator and have found leads of accounts that are held in the name of his pregnant fiancé Nicole Crisp. At the height of his company’s profits, Tzvetkoff was able to draw out an annual income of $2 million. Tzvetkoff faces up to 75 years in jail for laundering over $540 million in illegal online gambling funds.
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