Poker Pro 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 Ponzi that is possible scheme well involving pro Bill Jordanou.

Just What would make a successful poker pro danger everything by getting taking part in a massive, multimillion dollar bank fraud and Ponzi scheme plot? That is the question many are now asking regarding poker that is australian Bill Jordanou, whom is under investigation by Victoria police for his alleged role in a bank fraud that continued for years, based on 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 2 allegedly ensnared Zaia’s wealthy clients, via his accountancy firm Zaia Arthur & Associates, into an undetailed Ponzi scheme, while simultaneously forging bank documents to secure loans, at times in Zaia’s customers’ names, which they then comingled with property and development loans additionally they received from the bank, for projects that either never ever existed or were never ever started.

Bank Holds Victims Hostage

But the caper gets even crazier from here. The bank employed for all these transactions was Australia’s biggest: Commonwealth Bank. That bank happens to be holding Zaia’s allegedly scammed customers hostage on the loans secured in their names, without their authorization. Certainly one of these clients that are former Rita Klapanis, says Commonwealth served her with a $6 million demand note, even though she just heard in regards to the loan’s existence whenever contacted by Commonwealth for repayment, and quickly contacted the authorities.

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 at 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 wealthy family members had been one of Zaia Arthur & Associates’ financial clients.

Once again, there are not any information on the reported Ponzi scheme, or how much any clients were supposedly defrauded or what ended up being promised; only that 20 such clients that are well-to-do involved.

Also called 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 known as a ‘conspiracy’ in the 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 house developer who claims to have lost millions is now accusing Commonwealth of gross negligence.

‘The bank did not check always the validity of tax statements or whether they have been filed, they did not check always work representations that have been 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.

If only those bankers could be got by us working for the IRS.

Commonwealth, not surprisingly, isn’t saying an expressed word about any from it. But it is maybe not the first time their ethics have actually come under scrutiny; earlier in the day in 2010, it was reported that the financial institution had covered up major misconduct from within its very own economic planning division, which allegedly place thousands of clients’ savings at danger.

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

So that as if that weren’t enough water that is hot take, it now appears Commonwealth introduced a global security firm, whose job it would be to conduct undercover surveillance on Michael Fraser, a prominent anti-banking lobbyist, too as several other politicians (although not, we are assured, Germany’s Chancellor Angela Merkel. Hey, we must amuse ourselves here 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 in order 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 anticipated to be completed by the end of the year.


Named for early 20th century scammer Charles Ponzi, these schemes actually first started long before he lent his notorious name to them. The aim of these scams that are financial for the perpetrator to collect vast sums of cash according to insanely ambitious promises of riches to your ‘investors,’ after which the instigator takes off, with everybody’s cash in tow.

Typically, Ponzi schemes include several elements that are predictable. Initial is a far-above-average promised rate of return on investments, accompanied by a apparently plausible description of just how these rates will be accomplished; often, the scammer will say they either have insider information, or are involved in an elite investment opportunity not ready to accept people.

Next, the perp makes certain that a few of the investors that are initial certainly get the promised returns, to create buzz and credibility, and obviously to bring in yet more investors, who are needed to really make the scheme profitable to its creator. Nevertheless, subsequent investors will never be therefore lucky, and are typically left completely wiped out if they not only receive no returns, but lose all of their investment that is initial as.

Bernie Madoff, needless to say, is probably the most infamous Ponzi schemer in history. After defrauding every person from elite nonprofit organizations to celebrities to banks away from a lot more than $50 billion over the course of decades, he is now serving what’s tantamount to a life sentence. His ripoffs left lots of his investors penniless, including countless citizens that are senior.

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

Very Superstitious: Scientists Say Myth for the Lucky Gambler Everyday Lives On

Do superstitions and talismans affect a gambler really’s luck? Or is at all in your mind? (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 bad luck, the good things in your past/ whenever you think 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

Is there anyone more superstitious when compared to a gambler? Maybe, but in accordance with a University of Cambridge researcher and several other psychology and brain function experts, many gamblers hold onto superstitious concepts tighter compared to a lottery winner with a million-dollar check. Talking of (multi) million dollar checks, World variety of Poker winner Ryan Riess, 23, claims he ‘just had a feeling that is great it. I just think I’m the best poker player on earth.’

In cases like this, Riess’s happy talisman could best be described as either an extremely confident or overinflated ego (according to your world views), but exactly how many poker players and gamblers in general lay plenty of faith in illogical belief systems? Quite a few, it seems.

‘The mind is a very effective learning machine,’ says Luke Clark, of the University of Cambridge therapy department. ‘Gamblers are attempting to sense their state of luck.’ Clark wrote a treatise on this subject about six years ago and is an expert 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 the other side of the coin in this week’s WSOP Main Event outcome: second-place finisher Jay Farber, who’s got this to say about champion Riess’s play: ‘Every time I made a hand, he would make a much better one,’ Farber said. ‘It’s very hard to beat someone who’s simply running hotter compared to sunlight.’

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

But a hefty ego is neither unusual nor that weird, particularly among poker’s elite; which is more than can be stated of numerous things gamblers haul around for good 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, thinking it would bestow good fortune upon her.

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

Among other common all the best charms are things like ‘lucky’ articles of clothing; specific figures (while 13 is recognized as bad luck in the West, in Asian countries, oahu is the number 4); having an attractive girl blow in your dice (yes, we know there’s 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 putting $50 bills in the jacket pockets of victims they buried into the desert- it seems unlikely, however, to us that mobsters would throw money away on their dead enemies by doing this); and, of course, a lot more too numerous to mention.

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

New MGM Arena to Host events that are sporting Entertainment

This is what the MGM that is new Arena evidently likely 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 brand new business partner, L.A.-based activity and arena builder AEG, just revealed initial renderings for 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 structures which were erected as part of the CityCenter task will down be torn to make means for the $350-million arena task, whose design will meld the neon plus the nature which make up exactly what became known to tourists while the Las Vegas landscape.

‘In Las Vegas, the look has to be iconic,’ stated AEG president and chief executive Dan Beckerman in an interview that is recent. ‘It’s going to be one of the most recognizable and leading venues in the globe.’

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 start in April or May of next year. Once completed, the arena is expected to host at least 100 events per year, including sports such as martial arts and boxing, honors shows, and concerts. It will have, needless to say, the usual private rooms for high rollers one would expect in Las Vegas, where cash talks and is treated as reverentially as any dignitary that is visiting.

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

‘The arena is truly the nexus for choosing the balance of the natural surroundings around Las Vegas using the energy that is visual of Strip. There is a very effort that is conscious 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 advantageous asset of the desert climate by including party that is outdoor in the surrounding balconies.

‘People will enjoy a outdoor environment,’ he stated. ‘The climate of Las Vegas allows us to have more outdoor balcony space. I cannot consider any arena which includes this much balcony room, and I also think I understand them all.’

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

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

Beckerman additionally noted that AEG is trying to bring a high-visibility boxing match in as one associated with the very first activities at the new arena. But while the arena that is new 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 likely be more like a water polo match), there defintely won’t be any major league sports tenants to start.

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

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