Australian e-processor whizkid has A$50 milliion debts

And A$ 45 million of it is owed to online gambling firms.

The spectacular fall from grace of a high-living, 25-year-old Aussie e-processing whiz was in the Australian media again this week as it was disclosed that Daniel Tzvetkoff (see previous InfoPowa reports) had declared bankruptcy in January 2010 with personal debts totaling over A$ 50 million.

The young businessman, once known for his Sydney mega-mansion and very expensive luxury cars, owes the funds to a handful of creditors including international Internet gambling giant, Kolyma Corporation, which has submitted its claim to Tzvetkoff’s bankruptcy trustee.

Tzvetkoff's BT Projects - now in liquidation -- is owed A$2 million, while a company titled Yellow Wattle is owed A$4 million, although there are reports of documents that show Yellow Wattle is owed A$38.46 million by BT Projects.
Tzvetkoff, who made millions through his internet billing company Intabill Inc, a subsidiary of BT Projects, now works as a consultant, and still resides in the Sydney mansion, bought through his company Asiana Holdings Pty Ltd for $27 million.

The company subsequently moved into receivership and the property, along with the unfinished house, was sold at a A$10 million discount.

Last month, Tzvetkoff said that his decision to file for bankruptcy was due to the 'mounting pressures' of legal costs relating to Supreme Court actions linked with the Intabill debacle, in which Kolyma Corporation is suing BT Projects, Tzvetkoff and his alleged partner Mr. Sciacca for A$52 million.

Live activity feed

  • Avatar 26589
    "Aladdins gabby, high noon Gabby1111 Manhattan gabby041"
  • Index
    "Exclusive Winaday/Slotland Halloween Contest -$650+ up for grabs"
  • No avatar small
    "I just started using bitcoin myself. I buy bitcoin using my checking account thru Coinbase. It takes a little longer than using a debit/credit card but if I understand it correctly the fees are lower that way. Then I transfer bitcoin to my wallet at Blockchain before depositing at an online casino. I made two deposits at Slotastic! and one at Slotocash and each time the money was there immediately. The only problem I had was on my first deposit I did not account for the conversion difference when making a minimum amount deposit and my bonus did not get triggered automatically. I got it soon worked out though when I contacted support thru Live Chat and explained the mistake was caused by my first time using bitcoin. They credited my account with the bonus and just suggested I add a little more next time to cover the additional fees and conversion rate differences. I didn't do too good at Slotocash but did much better at Slotastic! and even though I made my deposit using bitcoin there was a message on the Withdraw screen saying I had to send in their Credit Card Authorization Agreement before I could make a withdrawal. I contacted Live Support to clarify and they advised I only had to send in a copy of my drivers license and a recent utility bill to verify my identity not my credit card. After I emailed these documents I received an email the next day advising my documents had been received and approved. I then submitted my withdrawal request and expected an immediate response just like I got on my deposit but it didn't happen. That's been about 7 hours ago now so I'm guessing it might be a day or two at least if I'm lucky before anything happens. But if it happens then that'll be much better than having to wait weeks or months like some have to. I'll update later when the withdrawal is finally completed."
  • Index
    "never any spins for me. im depositor. also asked chat they said only selected players.  "
  • Photo
    "blue day thank you very much."
  • No avatar small
    "Partypoker. Not bad desire:"
Swipe left or right to see more

lcb activities in the last 24 hours

  • 39
    new members
  • 563
    members online
  • 16175
    guests online
  • 118
    new posts
  • 2128
    free games played
Join the club

Highest Community Rated Online Casinos

Swipe left or right to see more

Latest forum posts

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search Results