The poker world is stunned by news of a alleged $70-million bank fraud scandal and possible Ponzi scheme since well involving pro Bill Jordanou.
What would make a poker that is successful risk everything through getting involved 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 research by Victoria police for his so-called role in a bank fraud that went on for years, in accordance with 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 company Zaia Arthur & Associates, into an undetailed Ponzi scheme, while simultaneously forging bank papers to secure loans, at times in Zaia’s consumers’ names, which they then comingled with property and development loans additionally they received from the bank, for projects 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 is currently keeping Zaia’s allegedly scammed clients hostage within the loans secured within their names, without their permission. Certainly one of (more…)