The poker world is stunned by news of a alleged $70-million bank fraud scandal and Ponzi that is possible scheme well involving pro Bill Jordanou.
Exactly What would make a poker that is successful danger every thing through getting taking part 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 went on for years, according to reports.
While information on the reported Ponzi scheme are sparse, the $70 million bank fraud operation was reportedly carried out 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, oftentimes in Zaia’s clients’ names, which they then comingled with home and development loans they also received from the bank, for tasks that either never ever existed or had been never ever started.
Bank Holds Victims Hostage
But the caper gets even crazier from right here. The bank used for all these transactions was Australia’s largest: Commonwealth Bank. That bank is now holding Zaia’s allegedly scammed clients hostage on the loans guaranteed within their names, without their permission. One of these clients that are former Rita Klapanis, says Commonwealth served her having a $6 million demand note, despite the fact that she just heard concerning the loan’s existence when contacted by Commonwealth for payment, and quickly contacted the police.
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 during the reported rate of $1,135 per day. Ms. Klapanis has now filed an affidavit with the Supreme Court, saying this woman is perhaps not responsible for the loan fraudulently obtained, without her authorization, inside her title. Her family that is wealthy had certainly one of Zaia Arthur & Associates’ financial consumers.
Again, there are not any details on the reported Ponzi scheme, or how much any customers were supposedly defrauded or what ended up being promised; only that 20 such well-to-do consumers were 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 case. Other victims are anticipated to follow suit shortly with legal action.
Bank Didn’t Check Loan Forms
And the tentacles of this financial octopus keep on coming; a house developer who claims to own lost millions is now accusing Commonwealth of gross negligence.
‘The bank failed to always check the validity of tax statements or whether they had been filed, they did not always check employment representations which were made, they did not undertake valuations on the properties become guaranteed. They accepted anything completed on the loan application without question,’ the lawyer for the developer stated.
Only if those bankers could be got by us working for the IRS.
Commonwealth, not surprisingly, isn’t saying word about any of it. But it is maybe not the very first time their ethics have come under scrutiny; earlier this present year, it was reported that the lender had covered up major misconduct from within its very own financial planning division, which presumably place thousands of clients’ savings at risk.
The Australian Securities and Investments Commission (ASIC) subsequently banned seven for the bank’s financial planners, and forced Commonwealth to spend tens of millions in damages towards the victims.
So when if which weren’t enough water that is hot be in, it now appears Commonwealth brought in an international security firm, whose job it was to conduct undercover surveillance on Michael Fraser, a prominent anti-banking lobbyist, too as various other politicians (however, we are assured, Germany’s Chancellor Angela Merkel. Hey, we have to here amuse ourselves sometimes). The spying that is secret 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 to help make this any more dramatic.
Jordanou has made 15 career poker competition 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.
Called for early century that is 20th Charles Ponzi, these schemes actually first started long before he lent his notorious title to them. The goal of these scams that are financial for the perpetrator to collect vast amounts of money predicated on insanely ambitious promises of riches to the ‘investors,’ after that your instigator takes off, with everybody else’s profit tow.
Typically, Ponzi schemes include several predictable elements. The first is a far-above-average rate that is promised of on investments, accompanied by a seemingly plausible explanation of how these rates will be accomplished; usually, the scammer will state they either have insider information, or are involved in an elite investment opportunity not available to the public.
Next, the slotsforfun-ca.com perp makes certain that a few of the initial investors do certainly have the promised returns, to create buzz and credibility, and clearly to bring in yet more investors, who are needed to really make the scheme profitable to its creator. But, subsequent investors will never be therefore fortunate, and are typically left completely wiped out if they perhaps not just receive no returns, but lose all of their investment that is initial as.
Bernie Madoff, of course, is the absolute most Ponzi that is infamous schemer history. After defrauding everyone from elite nonprofit organizations to superstars to banking institutions out of a lot more than $50 billion over the course of years, he happens to be serving what is tantamount to a life phrase. Their ripoffs left a lot of his investors penniless, including countless senior citizens.
Whether an actual ponzi scheme ended up being allegedly committed by Jordanou and Zaia is perhaps not entirely clear through 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: Scientists Say Myth of the Lucky Gambler Lives On
Do superstitions and talismans affect a gambler really’s luck? Or perhaps is at all in your mind? (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 good things in your past/ once you believe in things that you don’t understand/Then you suffer/Superstition ain’t the way’ Stevie Wonder, ‘Superstition’ EMI Music Publishing
Ryan Riess Believed He Would Win
Can there be anyone more superstitious than the usual gambler? Maybe, but in accordance with a University of Cambridge researcher and several other therapy and brain function experts, many gamblers hold onto superstitious ideas tighter compared to a lottery champion with a million-dollar check. Speaking of (multi) million dollar checks, World number of Poker winner Ryan Riess, 23, states he ‘just had a great feeling about it. I just think I’m the best poker player on earth.’
In this situation, Riess’s happy talisman could best be called either an extremely confident or ego that is overinflateddependent on your world views), but just how many poker players and gamblers in basic lay plenty of faith in illogical belief systems? A serious few, it appears.
‘The mind is a very powerful learning machine,’ says Luke Clark, of the University of Cambridge therapy department. ‘Gamblers are wanting to sense their state of luck.’ Clark wrote a treatise on this subject about six years ago 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 luck.
The Theory of a ‘Bad Streak’
Let’s have a look at one other side of the coin in this week’s WSOP Main Event outcome: second-place finisher Jay Farber, who’s got this to state about champion Riess’s play: ‘Every time we made a hand, he would make a much better one,’ Farber said. ‘It’s really hard to beat someone that is just running hotter compared to the sun.’
The superstition of the ‘unbeatable happy streak’ or simply just being outplayed by a superior gamesman? Riess does, after all, have actually a pretty solid performance track record for just one so young, whereas Farber is a VIP host in Las Vegas with only a few nominal tournament completes to his name before his $5 million second-place take this week.
However a hefty ego is neither unusual nor that weird, particularly among poker’s elite; which will be more than can be said of many products gamblers haul around once and for all luck. Bo Bernhard, executive of UNLV’s International Gaming Institute, claims one of the strangest he ever encountered was a woman who carried her deceased gambling partner’s urn replete with his ashes wherever she went, thinking it could bestow good fortune upon her.
(evidently, ‘good fortune’ was not in Mr. Dead Guy’s cards, predicated on outcome).
Among other common luck that is good are things like ‘lucky’ articles of clothing; particular figures (while 13 is known as bad luck into the West, in Asian countries, it is the no. 4); having an attractive woman blow on your dice (yes, we understand 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 habit of mobsters placing $50 bills in the jacket pouches of victims they buried within the desert- it seems unlikely, however, to us that mobsters would throw money away on their dead enemies like that); and, of course, many more too numerous to mention.
‘A lot of times, it’s very personal,’ said David G. Schwartz, director of UNLV’s Center for Gaming analysis.
New MGM Arena to Host Sporting Events, Entertainment
This is exactly what the new MGM Arena is evidently planning to look like. (Image source: AEG artist’s rendering)
As Las Vegas continues its slow but ascent that is steady into being a gaming superpower, MGM Resorts International and its new business partner, L.A.-based entertainment and arena builder AEG, just revealed the initial renderings for just what is an enormous 20,000-seat arena become built on 12 acres situated between New York-New York casino and Frank Sinatra Drive.
Striking Design Concept
In order to make this happen, two office buildings that were erected as part of the CityCenter project will be torn down to make way for the $350-million arena task, whose design will meld the neon therefore the nature which make up what is now known to tourists as the Las Vegas landscape.
‘In Las Vegas, the design needs to be iconic,’ stated AEG president and leader 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 anticipated 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 or May of next year april. Once completed, the arena is expected to host at least 100 events per 12 months, including sporting events such as martial arts and boxing, awards shows, and concerts. It will have, needless to say, the most common private rooms for high rollers one could expect in Las Vegas, where money speaks and it is treated as reverentially as any visiting dignitary.
‘With this entertainment building in a city of activity buildings, we feel a duty to style a building that offers a phenomenal fan experience,’ said architect Brad Clark, Populous principal that is senior. Populous is the Kansas City, Mo., architectural firm hired by AEG and MGM to develop the exterior renderings regarding the arena, that may have a footprint that is 5.4-acre.
‘The arena is actually the nexus for finding the balance of the normal surroundings around Las Vegas because of the artistic energy associated with Strip. There is a very effort that is conscious have the two languages merge regarding the building outside,’ Clark said. The architect added that the entrance will have a glass façade and a 12-story video overlay to impress incoming fans.
Outdoor Entertainment Areas
Project manager Romani says the venue will require advantage of the desert environment by including party that is outdoor in the surrounding balconies.
‘People will love a outdoor environment,’ he said. ‘The climate of Las Vegas allows us to have more outdoor balcony space. I can’t think of any arena which has this much balcony space, and I think I know them all.’
Of course, in August with regards to can hit temps since high as 114F, some indoor that is nice may become more attractive to stadium attendees.
The arena is trying to break away from a format that is totally traditional such venues, notes designer Beckerman. He says seating that is premium encompass both old-fashioned suites that can hold up to 100 guests, and also more intimate people for just two to four people.
Beckerman additionally noted that AEG is attempting to bring in a high-visibility boxing match as you of the first activities 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 robust coolant system installed, or it’s going to be more like a water polo match), there defintely won’t be any major league sports tenants to start out.
‘The great thing concerning the building is that people’re designing it for the flexibility that is maximum. It gives us a complete large amount of freedom,’ the architect said.