Are Accused Money Launderers Tzvetkoff and Rennick Ratting Out Their Pals For Significantly Reduced Sentences?

by Lou on October 1, 2010

With Canadian internet gambling money-mover Douglas Rennick sentenced to home instead of a long stretch in the slammer, it raises the chances that accused Australian fraudster Daniel Tzvetkoff will also receive a slap on the wrist and dodge a lengthy stint in an American jail.

Rennick, who faced 55 years in federal prison for money laundering and bank fraud charges related to online gaming, was sentenced to six months at his sister’s home in San Diego, as part of a plea deal agreed to by the Feds and the 35-year-old British Columbia resident.

This probably comes as very good news to Australian Daniel Tzvetkoff, who is hoping to dodge a long sentence on similar charges. Tzvetkoff was looking at 75 years in prison, but rumors have it that he may also have struck a plea bargain with prosecutors from the Southern District of New York—the prosecutorial group that handles these crimes.

Rennick and Tzvetkoff were each charged with processing large sums of illegal gambling money—sums in excess of $300 million—and moving those funds in and out of the US.

Rennick pled guilty to a transmission of wagering charge and the far more serious money laundering and bank fraud charges, with their correspondingly lengthy jail sentences, were dropped.

Rumor has it that Tzvetkoff and Rennick are cooperating with prosecutors, which might lead to a spate of arrests and charges later on.

The take-away from all of this, is that if you’re going to be part of a fraud or crime and think you’ll be caught, you need to be the first one to put his hands up in the air, shout “mea culpa” at the top of your lungs, work out a deal with the prosecutors, and create another identity for yourself once you’ve done whatever miniscule amount of time you’ll serve for throwing all your former coconspirators under the bus.

{ 1 comment }

Jim October 4, 2010 at 3:57 am

First off please consider the fact that Rennick filed a return of property claim against the DOJ. It is no coincidence he was indicted shortly after this with 55 years in jail. This of course was done to ensure he would never fight the charges in court even if innocent. Secondly people like the neteller founders and anurag dikshit have not been sentenced yet because they are cooperating. You do not cooperate after sentencing. Rennick surrendered himself in may 2010 And was sentenced four months later. Anurag dikshit and the neteller founders have been cooperating for years therefore it is not realistic rennick is cooperating. Also rennick was safe in Canada and turned himself in. Why would he surrender himself without agreeing to conditions such as not cooperating first? Please get some facts before you go out and potentially endanger peoples lives.

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