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Poker player linked to ponzi scheme

Poker player linked to ponzi scheme

Australian police are looking into the workings of an AUS$70 million ponzi scheme allegedly perpetrated by a Melbourne accountant and an international poker player. The accountant could have made use of fraudulent documentation in order to gain loans from the Commonwealth Bank and later move them to both their private accounts.

Robert Zaia, a Scoresby-based accountant, might have involved up to 20 of his rich clients in the scheme. His partner, international poker pro Bill Jordanou, has also been in the scope of the Melbourne police for over two years.

During a raid of Zaia's company in 2012, police discovered a batch of fraudulent documents which were used to process bank transfers without the real authorization of its owners and which were approved by senior staff at the Commonwealth Bank.

The same bank also gave out millions of dollars in commercial loans for development projects which were never started. The funds were most likely stolen or transfered to other accounts in an effort to launder the money.