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Jailed Australian online gambling processing mogul Daniel Tzvetkoff apparently spent large sums of money buying Christmas presents for the children of employees while his company crumbled all around him, according to court documents obtained yesterday.
From the Courier Mail:
Former BT marketing manager Mary-Ann Dick said Tzvetkoff had approved her $US128,960 ($A154,000) credit card bill in January last year, which included gifts acquired at Toys R Us, a $US20,000 function hall rental and three weeks' accommodation at the Venetian Hotel in Las Vegas.
Jada Chapman, a former personal assistant to Tzvetkoff and BT co-director Sam Sciacca, told the Federal Court in Brisbane that the company spent more than $43,000 for the one-off use of a Suncorp facility in March 2009.
Tzvetkoff is awaiting trial in the US after being nabbed at a Las Vegas convention. He was charged with laundering money for the online gambling sector. The industry, however, has accused Tzvetkoff of stealing millions from them.
His company reportedly owes $180 million.
The Courier Mail also reported that ex-BT financial analyst Angeline Cross told Mr McQuade that BT had "no ability" in April 2009 to pay more than $1 million owing to creditors of V8 Supercar group Team IntaRacing.
Ms Cross said she worked on a cash flow projection in December 2008 which found that Tzvetkoff and Mr Sciacca would need $1.3 million a month to operate their Gulfstream private jet.
Jagajeet Chiba, Gambling911.com
