Intabill Sued: 1

The twenty five year old internet pioneer, Daniel Tzvetkoff, announced that his company is currently on hold. Along with his thirty eight year old partner, Sam Sciacca, Tzvetkoff built an online billing, fraud detection and payment system. That invention which was highly used by online casinos made the creators quite a bit of money. Their business is estimated to be worth $120 million. Not all has gone so well for the two internet tycoons, they recently had a couple of deals that went sour which have turned into a $52 million lawsuit. They are being sued by an online casino and internet gambling company called Kolyma Corporation AVV. The lawsuit claims that Kolyma Corporation never received funds that were supposed to be transferred by Intabill Inc., which is Tzvetkoff’s firm.

The online casino, Kolyma Corporation is based out of Aruba which is a little island in the Caribbean but in the world of online casinos it is quite an island. Huge online casinos like Full Tilt Poker operate from that island and are actually run by Kolyma Corporation. Large online casinos like that do not just trust their business to anyone so they were very shocked that they are having to go through this whole ordeal. Intabill has a lot of clients to their name but one of their largest and most profitable clients was definitely Kolyma Corporation. The lawsuit was filed in the supreme Court in Brisbane on May 25th 2009. On the lawsuit itself the online casino names itself as the plaintiff and the defendant is named as Intabill, the multi million dollar payment company.