Poker Pro Bill Jordanou Stuns Australia with Alleged Bank Fraud

Poker Pro 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.

Exactly What would make a poker that is successful risk every thing by getting associated with a massive, multimillion dollar bank fraud and Ponzi scheme plot? That is the question numerous are now asking regarding Australian poker pro Bill Jordanou, whom is under research by Victoria authorities for his alleged role in a bank fraudulence that went on for years, based on reports.

While information on the reported Ponzi scheme are sparse, the $70 million bank fraud procedure was reportedly carried out with Jordanou’s business partner, Robert Zaia, 45. The 2 presumably ensnared Zaia’s wealthy clients, via his accountancy firm Zaia Arthur & Associates, into an undetailed Ponzi scheme, while simultaneously forging bank papers to secure loans, often times in Zaia’s customers’ names, that they then comingled with property and development loans in addition 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 here. The bank employed for all these transactions was Australia’s largest: Commonwealth Bank. That bank is now holding Zaia’s allegedly scammed customers hostage on the loans guaranteed in their names, without their permission. One of these former customers, Rita Klapanis, says Commonwealth served her having a $6 million demand note, even though she only heard in regards to the loan’s existence whenever contacted by Commonwealth for payment, and immediately contacted the police.

Undeterred, apparently, by the logic here, Commonwealth continues to be going after Ms. Klapanis’ Toorak home, and even 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 actually is perhaps not accountable for a loan fraudulently obtained, without her permission, in her name. Her family that is wealthy had one of Zaia Arthur & Associates’ financial clients.

Again, there are no information on the reported Ponzi scheme, or how much any clients were supposedly defrauded or what ended up being promised; only that 20 such well-to-do clients were involved.

Also named in 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 case. Other victims are expected to follow suit shortly with legal action.

Bank Didn’t Check Loan Forms

And the tentacles with this financial octopus keep on coming; a property developer who claims to have lost millions is now accusing Commonwealth of gross negligence.

‘The bank would not always check the validity of tax statements or whether they was filed, they did not always check work representations which were made, they did not undertake valuations on the properties to be guaranteed. They accepted anything completed on the loan application without question,’ the lawyer for the developer said.

Only if those bankers could be got by us working for the IRS.

Commonwealth, not surprisingly, isn’t saying an expressed word about any of it. But it is perhaps not the time that is first ethics have come under scrutiny; earlier in the day this season, it had been reported that the financial institution had covered up major misconduct from within its own monetary planning division, which allegedly place thousands of clients’ savings at risk.

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

So when if that weren’t enough water that is hot take, it now appears Commonwealth earned an international security firm, whose job it was to conduct undercover surveillance on Michael Fraser, a prominent anti-banking lobbyist, aswell as various other politicians (however, we are assured, Germany’s Chancellor Angela Merkel. Hey, we must here amuse ourselves sometimes). The secret spying included National Senator from brand New South Wales John Williams, whom is involved in a Senate inquiry into the ASIC’s very own conduct after bringing the Commonwealth scandal to light.

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

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

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


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

Typically, Ponzi schemes include a few predictable elements. Initial is a far-above-average promised rate of return on investments, along with a apparently plausible explanation of just how these rates will be accomplished; often, the scammer will say they either have insider information, or are engaged in an elite investment opportunity perhaps not open to people.

Next, the perp makes certain that a number of the investors that are initial indeed have the promised returns, to create buzz and credibility, and clearly to bring in yet more investors, who are needed to make the scheme profitable to its creator. However, subsequent investors will never be so lucky, and are typically left completely wiped out once they not only receive no returns, but lose all their initial investment as well.

Bernie Madoff, needless to say, is one of the most Ponzi that is infamous schemer history. After defrauding everyone from elite institutions that are nonprofit superstars to banks out of more than $50 billion over the course of decades, he is now serving what’s tantamount to a life phrase. His ripoffs left many of his investors penniless, including countless citizens that are senior.

Whether A ponzi that is actual scheme presumably committed by Jordanou and Zaia is not entirely clear from the reports released therefore far; but if a scheme was indeed perpetrated on Zaia’s rich accounting clients, it most likely left a financial Cat 5 hurricane in its wake.

Very Superstitious: Researchers Say Myth of the Lucky Gambler 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 on 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/ whenever you think in things that you do not understand/Then you suffer/Superstition ain’t the method’ Stevie Wonder, ‘Superstition’ EMI Music Publishing

Ryan Riess Believed He Would Win

Will there be anyone more superstitious than a gambler? Maybe, but according to a University of Cambridge researcher and many other therapy and brain function experts, many gamblers hold onto superstitious ideas tighter than the usual lottery winner with a million-dollar check. Speaking of (multi) million dollar checks, World group of Poker winner Ryan Riess, 23, states he ‘just had a great feeling about it. We imagine I’m the best poker player on the planet.’

In this instance, Riess’s happy talisman could best be described as either a very confident or overinflated ego (depending on your world views), but exactly how many poker players and gamblers in general lay a lot of faith in illogical belief systems? A serious few, this indicates.

‘The mind is an extremely learning that is powerful,’ says Luke Clark, of the University of Cambridge psychology department. ‘Gamblers are attempting 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 usually 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 may have this to say about champion Riess’s play: ‘Every time I produced hand, he would make a better one,’ Farber said. ‘It’s very difficult to beat someone who is simply running hotter than the sun.’

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

But a ego that is hefty neither unusual nor that weird, particularly among poker’s elite; which can be more than can be said of many items gamblers haul around once and for all luck. Bo Bernhard, executive of UNLV’s International Gaming Institute, says one of the strangest he ever encountered was a woman whom carried her deceased gambling partner’s urn replete with his ashes wherever she went, believing it might bestow good fortune upon her.

(evidently, ‘good fortune’ was not in Mr. Dead Guy’s cards, based on result).

Among other common luck that is good are things like ‘lucky’ articles of clothing; specific numbers (while 13 is known as bad luck into the West, in Asian countries, it is the number four); having an attractive woman blow on your own dice (yes, we realize 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 practice of mobsters putting $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 by doing this); and, of program, additional too numerous to mention.

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

New MGM Arena to Host Displaying Events, Entertainment

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

As Las Vegas continues its slow but steady ascent back into being a gaming superpower, MGM Resorts International and its particular new business partner, L.A.-based entertainment and arena builder AEG, simply unveiled the initial renderings for just what is going to be an enormous 20,000-seat stadium to be constructed on 12 acres situated between New York-New York casino and Frank Sinatra Drive.

Striking Design Concept

In order to make this huuuge casino reviews happen, two office buildings which were erected as an ingredient of the CityCenter project will down be torn to make method for the $350-million stadium project, whose design will meld the neon as well as the nature that make up what has become understood to tourists as the Las Vegas landscape.

‘In Las Vegas, the look has to be iconic,’ said AEG president and chief executive Dan Beckerman in a present interview. ‘It’s likely to be very recognizable and venues that are premier the world.’

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

‘With this activity building in a city of activity buildings, we feel an obligation to develop 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 exterior renderings of the arena, which will have footprint that is 5.4-acre.

‘The arena is truly the nexus for finding the stability of the natural surroundings around Las vegas, nevada with all the energy that is visual of Strip. There’s a very conscious effort to have the two languages merge in the building outside,’ Clark said. The architect added that the entrance has a cup façade and a video that is 12-story to impress incoming fans.

Outdoor Entertainment Areas

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

‘People will relish a outside environment,’ he stated. ‘The climate of Las Vegas allows us to have more outdoor balcony space. I cannot think about any arena that has this balcony that is much, and I also think I am aware them all.’

Of course, in August when it can strike temps because high as 114F, some indoor that is nice may be much more appealing to stadium attendees.

The arena is attempting to break away from a totally old-fashioned format for such venues, notes designer Beckerman. He says seating that is premium encompass both conventional suites that can last to 100 guests, as well as more intimate ones for just two to four individuals.

Beckerman also noted that AEG is trying to bring a high-visibility boxing match in as one of this very first occasions during the new arena. But while the arena that is new being designed with huge sporting events like NBA and NHL games in mind (we sure hope there’s a robust cooling system installed, or it will be more like a water polo match), there won’t be any major league sports tenants to begin.

‘The great thing about the building is that we’re designing it for the maximum flexibility. It offers us lot of freedom,’ the designer said.


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