An $18 million trail of financial misery has been uncovered in relation to former bankrupt Robert Tidy including a string of his failed business ventures.
Tidy’s lifestyle resembles that of a billionaire, with first class flights and luxury hotels all posted to social media.
But he now has an even larger number of burnt investors wanting their money returned after his latest venture called Zipett, also collapsed this week.
“Guys, it’s with the heaviest of hearts I must be honest and update you all with news from overseas,” he wrote in an email to investors informing them the latest Zipett project has “ended for now.”
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This development comes just over two weeks after A Current Affair first raised question marks over Tidy’s abysmal financial history which resulted in him filing for bankruptcy three times.
A statement of affairs for his 2007 bankruptcy reveals $5.1 million in unpaid debts to 28 creditors, the largest being his father the late Colin Tidy, a well-known Sydney bookmaker.
His bankruptcy in 2018 contained $7.9 million owing including almost $1 million to the Australian Tax Office.
There is also an additional $3.2 million worth of investors money in one of his failed cryptocurrency ventures called Bartercoin.
And another $2.2 million in Zipett coins that also failed to launch.
ASIC searches reveal Robert Colin Tidy has been a director of 21 different companies, 16 of which are now either deregistered or under external administration.
He was also the driver of a $365,000 company-owned Lamborghini which was written off after crashing on the Pacific Highway.
Since it first began investigating Tidy’s affairs, A Current Affair has received more than 50 emails from investors wishing they’d never met him.
Jennifer Hercules and Eric Buckley are one of the largest individual investors impacted by Tidy’s failed business ventures with losses totaling more than $1 million, some of it from her superannuation.
“Our whole world came crashing down,” Hercules said whilst fighting back tears.
“He’s absolutely devastated me, I have sleepless nights, I have nightmares,” she said.
“He’s dashed our hopes of having the life which we’ve worked so hard and saved so hard to have.”
Buckley said he has simple advice for anyone considering investing with Tidy.
“And that is a) don’t believe a word he says. And b) don’t believe a word he says. He promises you the world and delivers zero.”
Women who claim to be former girlfriends of Tidy also revealed he went on gambling sprees, telling one he’d lost up to $250,000 in a single day.
Tidy posted some of his winning bets publicly to his Instagram account, claiming the bets were for his Punters Club.
But Tidy shouldn’t be punting in this country at all, he’d been disqualified from betting with any Australian wagering operator since 1997 due to “defaulting” on bets.
A Current Affair has also obtained videos and pictures distributed by Tidy among his investor group showing 179 bets worth $168,000 in a single day.
A former staffer of Tidy’s who requested their be concealed, said they witnessed him gambling at Townsville Casino whilst bankrupt.
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“So we’re probably talking $5000-$10,000 at casinos on the pokies.”
The former staffer also said they doubt ten per cent of profits from some of his various ventures are given to charity, as Tidy claims.
“I’ve never seen a cent go to a charity and I don’t believe there’s ever been a cent go to charity.”
When A Current Affair confronted Tidy at a Sydney hotel last month, he claimed to have donated “easily over $300,000” and named Youth Off The Streets as a recipient of “maybe $100,000”.
Father Chris Riley told A Current Affair “there is no indication” anyone named Robert Tidy “has ever donated to Youth Off The Streets.”
Tidy provided a 25 year-old note indicating he did once pay for children and staff from the charity to attend a State of Origin game, all the way back in 1997.
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Hercules and Buckley claim they were not aware of Tidy’s questionable financial history or the extent of his gambling sprees until after they had invested
The Sunshine Coast couple were taken out on fishing trips by Tidy and also wined and dined at expensive restaurants, even celebrating his birthday with him.
“He said that we were his family that he never had,” Buckley said.
They claim Tidy eventually started offering investment information, suggesting it would be better to sell some shares and invest with him “because the money would be a lot safer with him.”
When the project eventually collapsed, Tidy explained in an email that they knew the investment “was going to be HIGHLY AGGRESSIVE.”
Hercules claims he told her it would be “minimal risk” and wouldn’t have invested had she known it was highly aggressive.
Tidy answered a series of questions via email, claiming he “did not say there was no risk” in relation to Hercules’ investment.
He also stated his bankruptcy trustee was informed of his gambling, which involved bets placed for other people.
He admitted to gambling at Townsville casino while bankrupt which he claims his trustee approved.
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