The poker world is stunned by news of an so-called $70-million bank fraud scandal and possible Ponzi scheme since well involving pro Bill Jordanou.
Exactly What would make a successful poker pro risk every thing by getting involved 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, who is under research by Victoria police for his so-called role in a bank fraud 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 their 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, that they then comingled with home and development loans they also received from the bank, for projects that either never existed or had been never 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 happens to be keeping Zaia’s allegedly scammed customers hostage over the loans secured within 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 about the loan’s existence when contacted by Commonwealth for repayment, and immediately contacted the authorities.
Undeterred, apparently, by the logic here, Commonwealth continues to be going after Ms. Klapanis’ Toorak home, and even charging her interest that is ongoing on loan at the reported rate of $1,135 per day. Ms. Klapanis has now filed an affidavit with the Supreme Court, saying this woman is maybe not accountable for a loan fraudulently obtained, without her authorization, in her name. Her wealthy family was indeed one of Zaia Arthur & Associates’ financial consumers.
Once again, there are no information on the reported Ponzi scheme, or how much any clients were supposedly defrauded or what was promised; only that 20 such clients that are well-to-do involved.
Also named within 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 called 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 of the octopus that is financial on coming; a house developer who claims to possess lost millions is now accusing Commonwealth of gross negligence.
‘The bank failed to check always the validity of tax returns or whether they had been filed, they did not always check employment representations that were made, they did not undertake valuations on the properties become guaranteed. They accepted anything completed regarding the loan application without question,’ the attorney 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’s maybe not the time that is first ethics have actually come under scrutiny; early in the day in 2010, it was reported that the bank had covered up major misconduct from within its own economic planning division, which allegedly place thousands of clients’ savings at danger.
The Securities that is australian and Commission (ASIC) subsequently banned seven of the bank’s financial planners, and forced Commonwealth to shell out tens of millions in damages towards the victims.
And as if that weren’t enough warm water to maintain, it now appears Commonwealth earned a worldwide security firm, whose job it was to conduct undercover surveillance on Michael Fraser, a prominent anti-banking lobbyist, too as various other politicians ( not, we are assured, Germany’s Chancellor Angela Merkel. Hey, we must amuse ourselves here 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 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 investigation that is two-year expected to be finished 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 goal of these financial scams is for the perpetrator to collect vast sums of cash considering insanely ambitious promises of riches to the ‘investors,’ after that the instigator takes off, with everybody else’s cash in tow.
Typically, Ponzi schemes include a few predictable elements. The first is a far-above-average promised rate of return on investments, along with a seemingly plausible description of how these rates will be achieved; frequently, the scammer will say they either have insider information, or are engaged in an elite investment opportunity perhaps not available to the general public.
Next, the perp makes sure that a few of the initial investors do certainly have the promised returns, to create buzz and credibility, and demonstrably to bring in yet more investors, who are needed to make the scheme profitable to its creator. However, subsequent investors will not be so lucky, and are typically left completely wiped out once they perhaps not only receive no returns, but lose all their investment that is initial as.
Bernie Madoff, of course, is probably the most infamous Ponzi schemer in history. After defrauding everyone from elite nonprofit organizations to celebrities to banking institutions out of more than $50 billion over the course of decades, he is now serving what is tantamount to a life phrase. Their ripoffs left lots of his investors penniless, including countless citizens that are senior.
Whether an actual ponzi scheme had been allegedly 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 a financial Cat 5 hurricane in its wake.
Very Superstitious: Researchers Say Myth of the Lucky Gambler Everyday Lives On
Do superstitions and talismans affect a gambler really’s luck? Or is at all in your head? (Image source: peacebenwilliams.com)
‘Very superstitious, writing’s on the wall/Very superstitious, ladders bout’ to fall/Thirteen-month- old baby broke the lookin’ glass/Seven years of misfortune, the great things in your past/ When 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 lots of other therapy and brain function experts, most gamblers hold onto superstitious concepts tighter than a lottery champion with a check that is million-dollar. Talking of (multi) million dollar checks, World number of Poker winner Ryan Riess, 23, states he ‘just had a feeling that is great it. I just think I’m the poker player that is best worldwide.’
In this case, Riess’s fortunate talisman could best be described as either an extremely confident or overinflated ego (based on your world views), but how many poker players and gamblers in basic lay a lot of faith in illogical belief systems? A significant few, it appears.
‘The brain is a very 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 topic about six years ago and is an expert in neuro-scientific the gambler’s point and mind of view. Much from it, keeps Clark, is to create an illusion of control in games that are usually luck that is largely random.
The Theory of a ‘Bad Streak’
Let’s take a good look at the other part of the coin in this week’s WSOP Main Event outcome: second-place finisher Jay Farber, that has this to express about champion Riess’s play: ‘Every time we made a hand, he would make a much better one,’ Farber said. ‘It’s very difficult to beat someone who is just running hotter than the sunlight.’
The superstition of the ‘unbeatable happy streak’ or simply just being outplayed with a gamesman that is superior? Riess does, after all, have actually quite a solid performance track record for one so young, whereas Farber is really a VIP host in Las Vegas with just a few nominal tournament completes to his name before their $5 million second-place take this week.
However a ego that is hefty neither unusual nor that weird, particularly among poker’s elite; which is more than can be stated of many items gamblers haul around for good luck. Bo Bernhard, executive of UNLV’s International Gaming Institute, states one of the strangest he ever encountered was a woman whom carried her deceased gambling partner’s urn replete with his ashes anywhere she went, believing it would fortune that is bestow good her.
(Apparently, ‘good fortune’ was not in Mr. Dead Guy’s cards, based on outcome).
Among other common luck that is good are things like ‘lucky’ articles of clothing; certain numbers (while 13 is considered bad luck within the West, in Asian nations, it is the number four); having a lovely woman blow in your dice (yes, we all know 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 putting $50 bills in the jacket pouches of victims they buried in the desert- it seems unlikely, however, to us that mobsters would throw money away on their dead enemies that way); and, of program, many more too numerous to say.
‘a great deal of times, it is rather personal,’ said David G. Schwartz, director of UNLV’s Center for Gaming Research.
New MGM Arena to Host Sporting Events, Entertainment
Itâ€™s this that the new MGM Arena is evidently going 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 particular brand new business partner, L.A.-based entertainment and arena builder AEG, just unveiled the first renderings for just what are going to be an enormous 20,000-seat stadium to be constructed 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 which were erected as part for the CityCenter task will be torn down to make means for the $350-million arena project, whose design will meld the neon as well as the nature which make up what is understood to tourists as the Las Vegas landscape.
‘In Las Vegas, the style has to be iconic,’ said AEG president and leader Dan Beckerman in an interview that is recent. ‘It’s likely to be one of the most recognizable and premier 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 anticipated that initial groundbreaking will start in or May of next year april. Once completed, the arena is expected to host at least 100 occasions per 12 months, including events that are sporting as martial arts and boxing, prizes shows, and concerts. It has, of course, the typical private rooms for high rollers one could expect in Las Vegas, where cash talks and it is treated as reverentially as any dignitary that is visiting.
‘With this activity building in a city of entertainment buildings, we feel an obligation to style a building that gives a phenomenal 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 stadium, which will have a 5.4-acre footprint.
‘The arena is really the nexus for locating the stability of the normal surroundings around Las vegas, nevada because of the artistic energy of this Strip. There is a very effort that is conscious have the 2 languages merge in the building outside,’ Clark said. The architect added that the entrance has a glass façade and a 12-story movie overlay to impress incoming fans.
Outdoor Entertainment Areas
Project manager Romani says the venue will take benefit of the wilderness climate by including party that is outdoor in the huuuge online surrounding balconies.
‘People will enjoy an environment that is outdoor’ he said. ‘The climate of Las Vegas allows us to have more balcony space that is outdoor. I cannot think of any arena that has this balcony that is much, and I think I know them all.’
Of course, in August with regards to can hit temps as high as 114F, some nice interior A/C may be more appealing to stadium attendees.
The arena is attempting to split away from a totally old-fashioned format for such venues, notes designer Beckerman. He says premium seating will encompass both old-fashioned suites that can hold up to 100 guests, and in addition more intimate ones for just two to four people.
Beckerman also noted that AEG is working to bring in a high-visibility boxing match as you associated with the very first events during 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 installed, or it will be more such as for instance a water polo match), there won’t be any major league sports tenants to start out.
‘The great thing in regards to the building is that individuals’re designing it for the flexibility that is maximum. It offers us a complete lot of freedom,’ the architect said.
Notice: Trying to access array offset on value of type bool in /home/joycecco/public_html/beautyesthetic.com.sg/wp-content/themes/flatsome/inc/shortcodes/share_follow.php on line 41