Prominent Australian poker player Bill Jordanou has been linked to an alleged Ponzi scheme currently being investigated by police in the state of Victoria.
According to The Age, the alleged scheme is said to have defrauded approximately $70 million dollars from a number of people. Among those who are believed to be victims of the scheme include “20 wealthy clients” of accountant Robert Zaia, who is a business partner of Jordanou.
News of a possible Ponzi scheme was first discovered after fraud squad detectives raided Zaia’s accountancy business in March last year. Fraudulent documents believed to have numbered in the hundreds were found at the office and it has been alleged that they were used to make unauthorised bank transfers into Zaia and Jordanou’s private bank accounts.
Unfortunately for those in the poker community, the game has also directly been linked with the alleged fraud. It has been reported that unauthorised payments alleged to have been carried out by the business were made to players participating in the Asia Pacific Poker Tour.
The 55-year-old Jordanou has played in a number of professional poker events in Australia over the years and has done well in most of them. Among his highest poker achievements is a third place finish in the $100,000 Challenge at the 2010 Aussie Millions in Melbourne, a performance which won him $300,000.
Jordanou also took out the $250,000 Challenge at the 2009 Aussie Millions, pocketing $200,000 while winning his first major poker event. Besides the Aussie Millions, Jordanou has also participated in the Asia Pacific Poker Tour (APPT) and the Australia and New Zealand Poker Tour (ANZPT).
The Melbournian player was last active in live tournament poker just under two months ago, having played in the $2,700 No-Limit Hold’em event at the APPT Melbourne. Jordanou finished that event in 15th place and won $9,175 for his efforts.
Jordanou’s love of poker and other such games don’t seem to have been confined to the Land Down Under, however, with The Age stating that he also “regularly gambled in Macau and Las Vegas.”
The Australian poker community is likely to be shocked that Jordanou has been implicated in the investigation given the fact that he is a fairly prominent player on the scene. That is especially the case in Melbourne, where he has been the most active.
The police investigation into the alleged Ponzi scheme is ongoing and will likely conclude in around two months.