Poker Professional Bill Jordanou Stuns Australia with Alleged Bank Fraud


Poker Professional Bill Jordanou Stuns Australia with Alleged Bank Fraud

The poker world is stunned by news of an alleged $70-million bank fraud scandal and Ponzi that is possible scheme well involving pro Bill Jordanou.

What would make a poker that is successful risk every thing through getting involved in a massive, multimillion dollar bank fraud and Ponzi scheme plot? That’s the question many are now asking regarding poker that is australian Bill Jordanou, whom is under research by Victoria police for his alleged role in a bank fraudulence that proceeded for years, in accordance with reports.

While information on the reported Ponzi scheme are sparse, the $70 million bank fraud operation was reportedly carried away with Jordanou’s business partner, Robert Zaia, 45. The two presumably ensnared Zaia’s wealthy clients, via his accountancy company Zaia Arthur & Associates, into an undetailed Ponzi scheme, while simultaneously bank that is forging to secure loans, at times in Zaia’s clients’ names, that they then comingled with property and development loans additionally they received from the bank, for jobs that either never existed or had been never started.

Bank Holds Victims Hostage

But the caper gets even crazier from right here. The bank useful for all these transactions was Australia’s biggest: Commonwealth Bank. That bank has become keeping Zaia’s allegedly scammed customers hostage over the loans secured inside their names, without their authorization. Certainly one of these former customers, Rita Klapanis, says Commonwealth served her with a $6 million demand note, despite the fact that she just heard in regards to the loan’s existence whenever contacted by Commonwealth for payment, and immediately contacted the authorities.

Undeterred, apparently, by the logic here, Commonwealth remains going after Ms. Klapanis’ Toorak property, and also charging her ongoing interest on said loan during the reported rate of $1,135 per day. Ms. Klapanis has now filed an affidavit with the Supreme Court, saying she is not accountable for a loan fraudulently obtained, without her permission, inside her name. Her wealthy family members had been certainly one of Zaia Arthur & Associates’ financial clients.

Again, there are not any details on the reported Ponzi scheme, or how much any customers were supposedly defrauded or what had been promised; only that 20 such clients that are well-to-do involved.

Also called within the Supreme Court affidavit are an additional eight alleged victims of the accounting firm, which Ms. Klapanis is now suing for damages in what is called a ‘conspiracy’ in the case. Other victims are likely to follow suit shortly with legal action.

Bank Didn’t Check Loan Forms

And the tentacles of the financial octopus keep on coming; home developer who claims to own lost millions is now accusing Commonwealth of gross negligence.

‘The bank failed to check the validity of tax returns or they did not check employment representations that were made, they did not undertake valuations on the properties to be secured whether they had been filed. They accepted anything completed in the loan application without question,’ the attorney for the developer said.

Only if we’re able to get those bankers working for the IRS.

Commonwealth, not surprisingly, isn’t saying an expressed word about any from it. But it’s perhaps not the very first time their ethics have come under scrutiny; earlier in the day this year, it was reported that the financial institution had covered up major misconduct from within its very own economic preparation division, which presumably place thousands of clients’ savings at risk.

The Securities that is australian and Commission (ASIC) subsequently banned seven of this bank’s financial planners, and forced Commonwealth to pay out tens of millions in damages to your victims.

So when if that have beenn’t enough water that is hot maintain, it now appears Commonwealth brought in a global security firm, whose job it was to conduct undercover surveillance on Michael Fraser, a prominent anti-banking lobbyist, too as some other politicians ( not, we are assured, Germany’s Chancellor Angela Merkel. Hey, we need to here amuse ourselves sometimes). The spying that is secret National Senator from brand New South Wales John Williams, who is involved in a Senate inquiry into the ASIC’s own conduct after bringing the Commonwealth scandal to light.

Good lord, all we need are Anthony and Cleopatra to produce this any more dramatic.

Jordanou has made 15 job poker tournament cashes, including taking 3rd for $300,000 in the 2010 Aussie Millions $100,000 Challenge in Melbourne.

The two-year investigation is expected to be completed by the end of the year.


Called for early century that is 20th Charles Ponzi, these schemes actually first started long before he lent his notorious title to them. The aim of these scams that are financial for the perpetrator to collect vast amounts of money predicated on insanely ambitious promises of riches to your ‘investors,’ after which the instigator takes off, with everyone’s money in tow.

Typically, Ponzi schemes involve a few elements that are predictable. Initial is a far-above-average promised rate of return on investments, with a apparently plausible explanation of exactly how these prices will be achieved; frequently, the scammer will state they either have insider information, or are engaged in an elite investment opportunity perhaps not open to the public.

Next, the perp makes sure that some of the investors that are initial indeed get the promised returns, to create buzz and credibility, and demonstrably to bring in yet more investors, who are needed to help make the scheme profitable to its creator. But, subsequent investors will not be so happy, and are typically left completely cleaned out if they not only receive no returns, but lose their initial investment as well.

Bernie Madoff, needless to say, is essentially the most infamous Ponzi schemer in history. After defrauding everybody from elite nonprofit institutions to celebrities to banks away from significantly more than $50 billion within the course of decades, he is currently serving what’s tantamount to a life sentence. Their ripoffs left lots of his investors penniless, including countless citizens that are senior.

Whether an actual ponzi scheme ended up being presumably committed by Jordanou and Zaia is maybe not entirely clear from the reports released so far; but if a scheme was indeed perpetrated on Zaia’s wealthy huuuge casino ca accounting clients, it most likely left a monetary Cat 5 hurricane in its wake.

Very Superstitious: Researchers Say Myth of the Lucky Gambler Everyday Lives On

Do superstitions and talismans really affect a gambler’s luck? Or is at all in your brain? (Image source:

‘Very superstitious, writing’s in the wall/Very superstitious, ladders bout’ to fall/Thirteen-month- old baby broke the lookin’ glass/Seven years of misfortune, the nice things in your past/ once you think in things that you don’t understand/Then you suffer/Superstition ain’t the method’ Stevie Wonder, ‘Superstition’ EMI Music Publishing

Ryan Riess Believed He Would Win

Can there be anyone more superstitious than the usual gambler? Maybe, but in accordance with a University of Cambridge researcher and lots of other psychology and brain function experts, most gamblers hold onto superstitious ideas tighter than the usual lottery winner with a million-dollar check. Talking of (multi) million dollar checks, World Series of Poker winner Ryan Riess, 23, states he ‘just had a feeling that is great it. We consider I’m the best poker player on earth.’

In this case, Riess’s happy talisman could best be described as either an extremely confident or overinflated ego (according to your world views), but just how many poker players and gamblers in basic lay plenty of faith in illogical belief systems? A significant few, this indicates.

‘The mind is an extremely powerful learning machine,’ says Luke Clark, of the University of Cambridge therapy department. ‘Gamblers are trying to sense their state of luck.’ Clark wrote a treatise on this subject about six years ago and is a specialist in neuro-scientific the gambler’s point and mind of view. Much of it, keeps Clark, is to create an illusion of control in games that are frequently luck that is largely random.

The Theory of a ‘Bad Streak’

Let’s have a look at one other part of the coin in this week’s WSOP Main Event outcome: second-place finisher Jay Farber, who’s got this to express about champion Riess’s play: ‘Every time I produced hand, he would make a better one,’ Farber said. ‘It’s really hard to beat someone who is simply running hotter than the sun.’

The superstition of the ‘unbeatable happy streak’ or just being outplayed by a gamesman that is superior? Riess does, after all, have a pretty performance that is solid record for starters so young, whereas Farber is a VIP host in Las Vegas with just a few nominal tournament completes to his name before their $5 million second-place take this week.

However a ego that is hefty neither unusual nor that weird, particularly among poker’s elite; which can be more than can be stated of many things gamblers haul around for good luck. Bo Bernhard, executive of UNLV’s International Gaming Institute, says one of the strangest he ever encountered had been a woman who carried her deceased gambling partner’s urn replete with his ashes wherever she went, thinking it could bestow good fortune upon her.

(evidently, ‘good fortune’ was not in Mr. Dead Guy’s cards, according to outcome).

Among other common good luck charms are things like ‘lucky’ articles of clothing; particular figures (while 13 is considered bad luck into the West, in Asian countries, oahu is the number 4); having a lovely woman blow in your dice (yes, we know there is an endless supply of humor in that one); as well as specific rituals, eschewing $50 bills (some say this derives from the reported habit of mobsters placing $50 bills in the jacket pouches of victims they buried within the desert- it seems unlikely, however, to us that mobsters would throw money away on their dead enemies like that); and, of program, additional too numerous to mention.

‘A lot of times, it is extremely personal,’ stated David G. Schwartz, director of UNLV’s Center for Gaming Research.

New MGM Arena to Host events that are sporting Entertainment

It’s this that the brand new MGM Arena is evidently planning to look like. (Image source: AEG artist’s rendering)

As Las Vegas continues its slow but ascent that is steady into being a gaming superpower, MGM Resorts International and its new business partner, L.A.-based activity and arena builder AEG, simply unveiled initial renderings for what are an enormous 20,000-seat stadium become built on 12 acres situated between New York-New York casino and Frank Sinatra Drive.

Striking Design Concept

In purchase to attempt, two office buildings that have been erected as an ingredient of this CityCenter task will down be torn to make method for the $350-million arena project, whose design will meld the neon plus the nature which make up what has become known to tourists because the Las Vegas landscape.

‘In Las Vegas, the design needs to be iconic,’ said AEG president and leader Dan Beckerman in an interview that is recent. ‘It’s planning to be perhaps one of the most recognizable and premier venues in the world.’

The project is expected to open in Spring 2016, according to Tim Romani, whose Denver-based ICON Venue Group is the project manager for the stadium. It’s anticipated that initial groundbreaking will begin in April or might of next year. Once completed, the arena is expected to host at least 100 events per 12 months, including sporting events such as martial arts and boxing, awards shows, and concerts. It will have, of course, the typical private suites for high rollers you might expect in Las Vegas, where cash talks and is treated as reverentially as any dignitary that is visiting.

‘With this entertainment building in a city of activity buildings, we feel a responsibility to style a building that offers a fantastic fan experience,’ said designer Brad Clark, Populous principal that is senior. Populous is the Kansas City, Mo., architectural firm employed by AEG and MGM to create the external renderings of this stadium, that may have a 5.4-acre footprint.

‘The arena is truly the nexus for finding the balance of the natural surroundings around Las Vegas aided by the artistic energy of the Strip. There is a very effort that is conscious have the two languages merge in the building exterior,’ Clark said. The architect added that the entrance will have a glass façade and a video that is 12-story to impress incoming fans.

Outdoor Entertainment Areas

Project manager Romani says the venue will take benefit of the wilderness climate by including outside party areas in the surrounding balconies.

‘People will love an environment that is outdoor’ he said. ‘The climate of Las Vegas allows us to have more balcony space that is outdoor. I can’t think about any arena that has this balcony that is much, and I also think I understand them all.’

Of course, in August with regards to can hit temps because high as 114F, some nice interior A/C may become more attracting stadium attendees.

The arena is wanting to break away from a format that is totally traditional such venues, notes designer Beckerman. He says premium seating will encompass both conventional suites that can last to 100 guests, and in addition more intimate ones for just two to four people.

Beckerman additionally noted that AEG is attempting to bring a high-visibility boxing match in as one associated with the very first events at the new stadium. But while the new arena is being created with huge sporting events like NBA and NHL games in mind (we sure hope there’s a robust coolant system set up, or it will be more like a water polo match), there will not be any major league sports tenants to begin.

‘The great thing in regards to the building is we’re designing it for the flexibility that is maximum. It gives us a complete large amount of freedom,’ the architect said.

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