Australian Let Poker Get the Better of Him
July 11, 2009
According to recent reports Daniel Tzvetkoff has filed for bankruptcy and
has lost pretty much everything. This is not normally news these days for
many people as they spend their time trying to figure out a way out of this
financial mess that the economy is. However, for a figure like Tzvetkoff it
is surprising because he was one of the richest men in the world at one
point.
Tzvetkoff has long lived a life of excess in Australia and supposedly
enjoyed playing poker. Tzvetkoff is only 25 years old and is worth tens of
millions of dollars from his holdings and his companies. However, his BT
Projects (Pty) Ltd has been placed into liquidation as Tzvetkoff owes more
than $80 million in debts to various poker companies.
His company has been placed into voluntary liquidation and his corporate
empire in Brisbane is no more. Even his Intabill company is gone and he has
let go all of their employees. Their head office is closed, his exotic cars
have been sold and his Gold Coast home – purchased for $29 million is on the
marketplace to be sold.
Korda Mentha’s John Park is handling the liquidation, and all staff of all
of the companies have been let go – but their staff entitlements were paid
before they were let go. Supposedly Tzvetkoff has been playing a lot of
poker and his major debts are owed to the various poker sites that he has
been playing at. He owes Full Tilt Poker, Poker Stars, Absolute Poker and
Golden Poker more than $80 million among them.
