Poker Pro Bill Jordanou Stuns Australia with Alleged Bank Fraud



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 these clients that are former Rita Klapanis, says Commonwealth served her with a $6 million demand note, even though she just heard concerning the loan’s existence when contacted by Commonwealth for repayment, and immediately contacted the police.

Undeterred, apparently, by the logic here, Commonwealth remains going after Ms. Klapanis’ Toorak property, and even charging her ongoing interest on said loan during the reported rate of $1,135 per day. Ms. Klapanis has now filed an affidavit with the Supreme Court, saying this woman is not responsible for a loan fraudulently obtained, without her permission, in her title. Her family that is wealthy had one of Zaia Arthur & Associates’ financial consumers.

Once again, there are not any information on the reported Ponzi scheme, or how much any customers 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 referred to as a ‘conspiracy’ in the event. Other victims are expected to follow suit shortly with legal action.

Bank Didn’t Check Loan Forms

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

‘The bank failed to always check the validity of tax returns or whether they was indeed filed, they did not check work representations that were made, they did not undertake valuations on the properties to be guaranteed. They accepted anything completed on the loan application without question,’ the attorney for the developer said.

Only if we’re able to get those bankers working for the IRS.

Commonwealth, not surprisingly, isn’t saying an expressed word about any from it. But it’s not the first time their ethics have actually come under scrutiny; earlier in 2010, it was reported that the lender had covered up major misconduct from within its own monetary planning division, which presumably put thousands of clients’ savings at risk.

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

So that as if that weren’t enough heated water to take, it now appears Commonwealth earned a worldwide security firm, whose job it would be to conduct undercover surveillance on Michael Fraser, a prominent anti-banking lobbyist, also 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 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 profession poker tournament cashes, including taking 3rd for $300,000 in the 2010 Aussie Millions $100,000 Challenge in Melbourne.

The two-year research is expected to be completed by the end of the year.

PONZI SCHEMES:

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

Typically, Ponzi schemes involve several elements that are predictable. The initial is a far-above-average rate that is promised of on investments, along with a apparently plausible explanation of exactly how these prices will be accomplished; frequently, the scammer will state they either have insider information, or are involved in an elite investment opportunity not open to the public.

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 obviously to bring in yet more investors, who are needed to really make the scheme profitable to its creator. However, subsequent investors will never be so lucky, and are typically left completely wiped out if they not only receive no returns, but lose their investment that is initial as.

Bernie Madoff, of course, is essentially the most infamous Ponzi schemer in history. After defrauding everybody from elite nonprofit organizations to a-listers to banks away from significantly more than $50 billion on the course of years, he has become serving what’s tantamount to a life sentence. Their ripoffs left lots of his investors penniless, including countless elderly people.

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

Very Superstitious: Researchers Say Myth regarding the Lucky Gambler Everyday Lives On

Do superstitions and talismans affect a gambler really’s luck? Or is at all in your brain? (Image source: peacebenwilliams.com)

‘Very superstitious, writing’s in the wall/Very superstitious, ladders bout’ to fall/Thirteen-month- old baby broke the lookin’ glass/Seven years of bad luck, the great things in your past/ once 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 than the usual gambler? Maybe, but based on a University of Cambridge researcher and many other therapy and brain function experts, many gamblers hold onto superstitious principles tighter than the usual lottery winner with a check that is million-dollar. Speaking of (multi) million dollar checks, World variety of Poker winner Ryan Riess, 23, says he ‘just had a feeling that is great it. We imagine I’m the best poker player worldwide.’

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

‘The mind is an extremely learning that is powerful,’ says Luke Clark, of the University of Cambridge psychology department. ‘Gamblers are attempting to sense their state of luck.’ Clark wrote a treatise on this subject about six years back and is a specialist in neuro-scientific the gambler’s mind and point of view. Much from it, keeps Clark, is to generate an illusion of control in games that are often largely random fortune.

The Theory of a ‘Bad Streak’

Let’s have a look at the other part of the coin in this week’s WSOP Main Event outcome: second-place finisher Jay Farber, who’s got this to express about champion Riess’s play: ‘Every time I produced hand, he would make a much better one,’ Farber said. ‘It’s really hard to beat someone who is simply running hotter compared to sunlight.’

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

But a hefty ego is neither unusual nor that weird, particularly among poker’s elite; which can be more than can be stated of numerous things gamblers haul around once and for all luck. Bo Bernhard, executive of UNLV’s International Gaming Institute, says one of the strangest he ever encountered had been a woman who carried her deceased gambling partner’s urn replete with his ashes wherever she went, believing it could fortune that is bestow good her.

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

Among other common all the best charms are things like ‘lucky’ articles of clothing; specific numbers (while 13 is considered bad luck in the West, in Asian countries, it is the number four); having an attractive woman blow on your own dice (yes, we realize there’s an endless supply of humor in that one); as well as individual rituals, eschewing $50 bills (some say this derives from the reported practice of mobsters placing $50 bills in the jacket pockets of victims they buried in the desert- it seems unlikely, however, to us that mobsters would throw money away on their dead enemies in that way); and, of course, many others too numerous to say.

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

New MGM Arena to Host events that are sporting Entertainment

It’s this that the new MGM Arena is apparently planning to look like. (Image source: https://slotsforfun-ca.com/huuuge-casino-review/ AEG artist’s rendering)

As Las Vegas continues its slow but steady ascent back into being a gaming superpower, MGM Resorts International and its particular brand new business partner, L.A.-based entertainment and arena builder AEG, simply unveiled the very first renderings for just what is going to be an enormous 20,000-seat arena to be built 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 regarding the CityCenter project will down be torn to make method for the $350-million arena task, whose design will meld the neon and the nature that produce up exactly what is becoming known to tourists because the Las Vegas landscape.

‘In Las Vegas, the look needs to be iconic,’ stated AEG president and leader Dan Beckerman in a recent interview. ‘It’s likely to be very recognizable and leading venues in the world.’

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 begin in or May of next year april. Once completed, the arena is expected to host at least 100 occasions per 12 months, including sports such as martial arts and boxing, prizes shows, and concerts. It will have, needless to say, the usual private suites for high rollers you might expect in Las Vegas, where cash talks and is treated as reverentially as any visiting dignitary.

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

‘The arena is really the nexus for locating the balance of the natural surroundings around Las Vegas using the artistic energy regarding the Strip. There exists a very conscious effort to have the two languages merge regarding the building outside,’ Clark said. The architect added that the entrance has a glass façade and a video that is 12-story to impress incoming fans.

Outdoor Entertainment Areas

Project manager Romani says the venue will require benefit of the desert environment by including party that is outdoor on the surrounding balconies.

‘People will love a outdoor environment,’ he said. ‘The climate of Las Vegas allows us to have more balcony space that is outdoor. I cannot think about any arena which includes this much balcony area, and I think I understand them all.’

Of course, in August when it can hit temps because high as 114F, some nice interior A/C may be much more attracting stadium attendees.

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

Beckerman additionally noted that AEG is trying to bring in a high-visibility boxing match as one regarding the very first occasions during the new stadium. 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 powerful cooling system set up, or it will be more like a water polo match), there won’t be any major league sports tenants to start.

‘The great thing in regards to the building is that we’re designing it for the flexibility that is maximum. It offers us large amount of freedom,’ the architect said.