Full Tilt Sues Intabill

Things keep on falling apart for online gambling payment processor Intabill, now named as a defendant in a lawsuit by Full Tilt.

We reported the demise of Intabill back in May, and the fact that is was struggling under mounting debts and scaled back operations. Now some of those creditors have come knocking.

In a lawsuit naming Intabill, parent company BT Projects and founding owners and managers Daniel Tzvetkoff and Sam Sciacca as defendants, Kolma Corporation AVV, owner and operator of online poker mega site Full Tilt poker, are seeking $US 43 million in funds owed. The lawsuit also makes claim to interest on the debt, which has been racking up at a nasty $US 13,000 a day.

Apparently both Tzvetkoff and Sciacca gave personal guarantees over the funds, which is why they are also named as co-defendants in the action.

The legal action caps a tumultuous week for Full Tilt who have had to deal with the US Justice Department freezing playing accounts of thousands of its players in a move that has laid a serious (even if only temporary) road hump for online poker in the US. All up, $30 million in funds were frozen leaving players angry and operators, principally Full Tilt scrambling into damage control mode.

This wouldn't have helped Intabill's chances of an amicably negotiated settlement of outstanding debts with its former major client.

25 year old entrepreneur Tzvetkoff's meteoric rise was well documented in local newspapers and included reports of luxury purchases like a $27 million gold coast mansion, a garage of exotic sports cars and a listing in the Brisbane Sunday Mail’s Top 100 rich list only last year.