The poker world is stunned by news of an alleged $70-million bank fraud scandal and possible Ponzi scheme since well involving pro Bill Jordanou.
Just What would make a successful poker pro risk every thing through getting tangled up in 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 research by Victoria authorities for his so-called role in a bank fraudulence that continued for years, according to reports.
While details 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 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, which they then comingled with property and development loans they also received from the bank, for tasks that either never ever existed or had been never started.
Bank Holds Victims Hostage
But the caper gets even crazier from right here. The bank employed for all these transactions was Australia’s largest: Commonwealth Bank. That bank has become keeping Zaia’s allegedly clients that are scammed on the loans secured within their names, without their permission. Certainly one of the Continue reading