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Intabill Crashes Owing 80 Million
The meteoric rise and fall of high-living Australian financial entrepreneur Daniel Tzvetkoff is being recorded this week in the Australian media as news breaks that his BT Projects (Pty) Ltd firm has been placed into liquidation owing a stunning A$80 million in debts.
Twenty-five-year-old Tzvetkoff, who at his peak was worth about tens of millions of dollars, watched helplessly as his company was placed in voluntary liquidation with KordaMentha's John Park.
The move means Tzvetkoff's corporate empire in Brisbane has collapsed. His Intabill company, a subsidiary of BT Projects, has sacked its workforce, the head office has gone and Tzvetkoff's range of exotic cars have been sold. The young entrepreneur's luxury Gold Coast home, bought for $29 million, is reported to be on the market, too.
Australian reports indicate that in April, Intabill laid off 96 employees with Tzvetkoff blaming market conditions and increased loan funding costs. Now all staff have gone. All staff entitlements, including superannuation, are believed to have been paid.
Tzvetkoff's downfall came about as a result of large debts to US online poker houses, the Courier-Mail newspaper reports. Four major international online poker houses – Full Tilt Poker (Kolyma), Poker Stars, Absolute Poker and Golden Poker – are thought to be owed about A$80 million.
Gambling News :
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
Pokerstars Pulls Out Of Coloumbia -
Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.
The Railbird Launched By Americas Card Room #acra -
Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.
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