The poker world is stunned by news of a so-called $70-million bank fraud scandal and possible Ponzi scheme because well involving pro Bill Jordanou.
What would make a successful poker pro danger everything through getting associated with 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 research by Victoria authorities for his alleged role in a bank fraudulence that went on for years, based on 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 allegedly ensnared Zaia’s wealthy clients, via their accountancy firm Zaia Arthur & Associates, into an undetailed Ponzi scheme, while simultaneously forging bank documents to secure loans, often times in Zaia’s customers’ names, which 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 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 keeping Zaia’s allegedly clients that are scammed over the loans secured inside their names, without their permission. One of these forme Continue Reading