Second man charged in $100m fraud investigation

A 49-YEAR-OLD man from Lysterfield is the second person to be arrested this week as part of an ongoing investigation into a $100 million fraud.
The man was arrested by the Fraud and Extortion Squad today (Thursday) charged with fraud offences and is expected to appear at the Melbourne Magistrates’ Court.
It comes after 55-year-old William Jordanou, from Narre Warren, was arrested yesterday (Wednesday) in relation to the alleged fraud, which is believed to have taken place over the last 10 years and relates to fraudulent loans secured by an accounting firm.
Mr Jordanou faced Melbourne Magistrates’ Court on Wednesday charged with 142 offences.
Prosecutor Luke Exell told the court a complaint was made by the Commonwealth Bank of Australia involving loan applications lodged by Zaia Arthur & Associates, the accounting firm where Mr Jordanou worked as a financial adviser.
Mr Exell said it was alleged that Mr Jordanou and others applied for property loans using false documents.
George Defteros, defending, said Mr Jordanou would vigorously deny the charges.
Mr Jordanou is due to return to court on 17 September.