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 so-called $70-million bank fraud scandal and possible Ponzi scheme because well involving pro Bill Jordanou.

Exactly What would make a successful poker pro risk every thing through getting associated with a massive, multimillion dollar bank fraud and Ponzi scheme plot? That’s the question numerous are now asking regarding poker that is australian Bill Jordanou, whom is under investigation by Victoria authorities for his alleged role in a bank fraudulence that proceeded for years, according to reports.

While information on the reported Ponzi scheme are sparse, the $70 million bank fraud procedure 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 forging bank documents to secure loans, often times in Zaia’s clients’ names, that they then comingled with property and development loans they also received from the bank, for jobs that either never ever existed or were never ever started.

Bank Holds Victims Hostage

But the caper gets even crazier from right here. The bank useful for all these transactions was Australia’s largest: Commonwealth Bank. That bank has become holding Zaia’s allegedly clients that are scammed over the loans secured inside their names, without their authorization. One of these clients that are former Rita Klapanis, says Commonwealth served her having a $6 million demand note, despite the fact that she only heard about the loan’s existence whenever contacted by Commonwealth for repayment, and quickly contacted the police.

Undeterred, apparently, by the logic here, Commonwealth is still going after Ms. Klapanis’ Toorak property, and also charging her interest that is ongoing on loan at the reported rate of $1,135 per day. Ms. Klapanis has now filed an affidavit with the Supreme Court, saying she’s perhaps not accountable for a loan fraudulently obtained, without her permission, inside her title. Her wealthy family was 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 ended up being promised; only that 20 such well-to-do clients had been involved.

Also named 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 known as a ‘conspiracy’ in case. Other victims are anticipated to follow suit shortly with legal action.

Bank Didn’t Check Loan Forms

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

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

If perhaps we could get those bankers working for the IRS.

Commonwealth, not surprisingly, isn’t saying an expressed word about any of it. But it is maybe not the time that is first ethics have come under scrutiny; early in the day this season, it was reported that the lender had covered up major misconduct from within its very own financial preparation division, which allegedly put thousands of clients’ savings at risk.

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

So when if that have beenn’t enough heated water to be in, it now appears Commonwealth brought in a worldwide security firm, whose job it was to conduct undercover surveillance on Michael Fraser, a prominent anti-banking lobbyist, also as several other politicians ( not, 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 own conduct after bringing the Commonwealth scandal to light.

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

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

The investigation that is two-year expected to be finished 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 cash considering insanely ambitious promises of riches to your ‘investors,’ after which the instigator takes off, with everybody’s money in tow.

Typically, Ponzi schemes involve a few predictable elements. Initial is a far-above-average rate that is promised of on investments, with a apparently plausible description of exactly how these rates will be achieved; frequently, the scammer will say they either have insider information, or are involved in an elite investment opportunity maybe not available to people.

Next, the perp makes sure that a number of the investors that are initial indeed get the promised returns, to create buzz and credibility, and clearly to bring in yet more investors, who are needed to help make the scheme profitable to its creator. Nonetheless, subsequent investors will not be so happy, and are typically left completely wiped out if they not just receive no returns, but lose all of their investment that is initial as.

Bernie Madoff, needless to say, is the most Ponzi that is infamous schemer history. After defrauding everyone from elite nonprofit organizations to a-listers to banks out of more than $50 billion on the course of years, he happens to be huuuge casino ca serving what is tantamount to a life phrase. Their ripoffs left lots of his investors penniless, including countless seniors.

Whether an actual ponzi scheme had been presumably committed by Jordanou and Zaia is not entirely clear through the reports released so far; but if a scheme was indeed perpetrated on Zaia’s rich accounting clients, it most likely left a monetary Cat 5 hurricane in its wake.

Very Superstitious: Scientists Say Myth of the Lucky Gambler Lives On

Do superstitions and talismans really affect a gambler’s luck? Or perhaps is at all in your head? (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 great things in your past/ once you believe in things you suffer/Superstition ain’t the way’ Stevie Wonder, ‘Superstition’ EMI Music Publishing that you don’t understand/Then

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, most gamblers hold onto superstitious concepts tighter compared to a lottery winner with a check that is million-dollar. Talking of (multi) million dollar checks, World Series of Poker winner Ryan Riess, 23, states he ‘just had a great feeling about it. We just think I’m the best poker player worldwide.’

In this case, Riess’s fortunate talisman could best be called either a very confident or ego that is overinflatedaccording to your world views), but just how many poker players and gamblers in general lay lots of faith in illogical belief systems? Quite a few, it appears.

‘The brain is an extremely learning that is powerful,’ says Luke Clark, of the University of Cambridge psychology department. ‘Gamblers are wanting 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 from it, keeps Clark, is to generate an illusion of control in games that are frequently luck that is largely random.

The Theory of a ‘Bad Streak’

Let’s take a look at the other side of the coin in this week’s WSOP Main Event outcome: second-place finisher Jay Farber, that has this to state about champion Riess’s play: ‘Every time I made a hand, he would make a better one,’ Farber said. ‘It’s very difficult to beat someone that is just running hotter compared to the sunlight.’

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

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

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

Among other common luck that is good are things like ‘lucky’ articles of clothing; particular numbers (while 13 is recognized as bad luck in the West, in Asian countries, oahu is the no. 4); having a beautiful girl blow on your dice (yes, we all 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 practice of mobsters putting $50 bills in the jacket pouches of victims they buried into the desert- it appears unlikely, however, to us that mobsters would throw money away on their dead enemies like that); and, of program, many more too numerous to mention.

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

New MGM Arena to Host Sporting Events, Entertainment

It’s this that the MGM that is new Arena evidently likely 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 particular new business partner, L.A.-based entertainment and arena builder AEG, just unveiled the first renderings for just what will likely be an enormous 20,000-seat arena become constructed on 12 acres situated between New York-New York casino and Frank Sinatra Drive.

Striking Design Concept

In order to attempt, two office buildings that were erected as an ingredient associated with CityCenter task will be torn down to make way for the $350-million arena project, whose design will meld the neon as well as the nature that produce up exactly what is becoming known to tourists while the Las Vegas landscape.

‘In Las Vegas, the look has to be iconic,’ said AEG president and leader Dan Beckerman in an interview that is recent. ‘It’s going to be very recognizable and leading venues in the globe.’

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 start in April or might of next year. Once completed, the arena is expected to host at least 100 events per 12 months, including events that are sporting as martial arts and boxing, awards shows, and concerts. It has, needless to say, the usual private rooms for high rollers you might expect in Las Vegas, where money speaks and is treated as reverentially as any dignitary that is visiting.

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

‘The arena is truly the nexus for locating the stability of the normal surroundings around vegas using the visual energy of this Strip. There is a very conscious effort to have the 2 languages merge in the building exterior,’ Clark said. The architect added that the entrance will have a cup façade and a video that is 12-story to impress incoming fans.

Outdoor Entertainment Areas

Project manager Romani says the venue will need benefit of the desert weather by including outdoor party areas on the surrounding balconies.

‘People will enjoy a outside environment,’ he said. ‘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 think I know them all.’

Of course, in August with regards to can strike temps since high as 114F, some indoor that is nice may become more attracting stadium attendees.

The stadium is attempting to split away from a format that is totally traditional such venues, notes designer Beckerman. He says seating that is premium encompass both old-fashioned suites that can endure to 100 guests, as well as more intimate people for just two to four individuals.

Beckerman also noted that AEG is trying to bring a high-visibility boxing match in as one regarding the very first events at the new stadium. 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 coolant system set up, or it will likely be more such as a water polo match), there won’t be any major league sports tenants to start.

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

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