Poker Player Billy Jordanou Linked to $70 Million Ponzi Scheme
It has been reported that the Australian poker player Billy Jordanou has been linked to a $70 million Ponzi scheme.Jordanou’s business partner, accountant Robert Zaia, allegedly used fraudulent documents to access loans from the Commonwealth Bank from up to 20 wealthy clients.
Both Jordanou and Zaia have been the subjects of a two-year police investigation.
In March 2012 police raided Zaia’s offices and uncovered hundreds of fraudulent documents, the documents have apparently been used to make illegal bank transfers which led to around $70 million in acquired funds.
Over the years Zaia and Jordanou have partnered in a number of companies as directors and the documents reveal that large amounts of money have been transferred to bank accounts, family trusts and credit cards linked to the two men.
Furthermore, it has been reported that over the past five years the two have spent huge amount of money on luxury cars, two boats, jet-skis, Harley-Davidson bikes and a number of hot-rods.
Jordanou is a regular player at Melbourne’s Crown Casino and frequently takes part in large buy-in tournaments such as the AU$100,000 Challenge and the AU $250,000 Challenge. He also takes part in high-stakes cash games and tournaments in Macau.