Bank defrauded of $108m, court heard

Last updated 19:40 28/05/2014

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A Melbourne poker player defrauded a  bank of about A$100 million (NZ$108 million) and spent it on property and a lavish  lifestyle, a court has heard.

William Jordanou, 55, is accused of providing false documents to  the Commonwealth Bank of Australia in order to obtain about $100  million of loans with three other men.

Jordanou was acting as a financial adviser to a Scoresby-based  accounting firm when he and his co-accused fraudulently received  the loans, prosecutor Luke Exell told Melbourne Magistrates Court  on Wednesday.

Exell said Jordanou allegedly provided the bank with false  tax documents, letters of employment and invoices on 40 occasions  between 2004 and 2013 to obtain the loans.

Jordanou then used the money to fund his lifestyle and invest in  property development projects, Exell said.

Jordanou, who has competed in several top poker tournaments,  including the Aussie Millions, faces 142 charges.

His lawyer George Defteros said his client would strenuously  fight the charges.

‘‘There’s nothing that takes us by surprise in any of the  allegations,’’ Defteros told the court.

‘‘We’ve been waiting for the charges and we’re going to defend  them strenuously.

‘‘We welcome these charges because Mr Jordanou wants to get on  with his life.’’

Jordanou was bailed but must report to police weekly, surrender  his passport and stay away from the 150 witnesses who could give  evidence in the case.

Defteros said his firm was also defending Jordanou’s  co-accused.

‘‘We’ve been working on this the last two-and-a-half years,’’ he  said outside the court.

Jordanou, of Narre Warren, will face court again in September.

His co-accused are expected to face court later this week.


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- AP

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