Parents grilled on Tzvetkoff collapse Local Gold Coast News

EVEN Daniel Tzvetkoff parents had difficulty getting their son to uphold business deals during the heady days of his empire and have now bailed him out by taking on his failed property investments, A court to get told.

Kim and Julie Tzvetkoff were yesterday questioned by lawyers acting for liquidators in government employees Court in Brisbane.

The public checks aim to probe the collapse of Daniel Tzvetkoff internet billing company BT Projects, what kind of went into liquidation owing $180 million last July.

Barrister Paul McQuade questioned Mr Tzvetkoff parents about property deals they had with regards to son in the dying stages of his company that funded his luxury lifestyle, Including a megamansion on the Gold Coast let alone expensive cars, Boats and nightclub ventures.

With their 27yearold bankrupt son fresh out of custody in the usa on a secret bail deal for moneylaundering charges, Mr and Mrs Tzvetkoff told the court they had limited understanding of his dealings.

Kim Tzvetkoff said they lived great lifestyle from their son but had done everything they could to secure his release.

He said he even bought one his son Brisbane ingredients that was languishing on the sale list last year for $770,000 so Daniel could possibly have cash to some battles

the oldsters said they also paid their son $100,000 cash for his be associated with another Brisbane property, With Daniel then taking greater than a year to transfer the title in 2007.

When inquired about that delay, Mr Tzvetkoff said the wasn pretty and that he had to chase his son to transfer the property.

Mr Tzvetkoff could not explain why transfer documents showed the property being transferred for $1 as opposed to the $100,000 paid back.

He said it was possible both properties were now tied up as security in a $1 million bail deal to secure Daniel release in the US but he didn’t know exact details.

“We have offered a lot of stuff we have. for the son. and discover him home again, spoken Mr Tzvetkoff.

Mr Tzvetkoff said he knew Daniel fiancee Nicole Crisp had gone to the US even after giving birth to their second child earlier this year, But he he would never know how his son was paying his way in the US.

“We don talk about these things, he was quoted saying.

we offered what funds we can. They have accepted some dough, he explained.

Mr Tzvetkoff also said he would never know if his son had owned a Rolex watch and were not sure a Hedges Avenue unit controlled by Ms Crisp had been sold for $1 million in July.

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