Bank defrauded of $108m, court heard
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.