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ONLINE GAMBLING PROBLEM LEADS TO FINANCIAL ADVISOR'S DOWNFALL

Sunday July 10,2011 : New Jersey man misappropriated $1.9 million in client monies
 
A New Jersey financial advisor ruined both his career and his reputation, and prejudiced his clients, through his inability to control his internet gambling, a court of law heard this week.
 
Daniel J. Trolaro (35) pleaded guilty to stealing  $1.9 million in client money and losing most of it to feed an online gambling addiction before state Superior Court Judge Thomas V. Manahan. The offence occurred between 2008 and 2010, according to the New Jersey State Office of the Attorney General.
 
Most of Trolaro's victims were New Jersey residents.
 
Acting Insurance Fraud Prosecutor Ronald Chillemi, revealed that Trolaro pleaded guilty to second-degree theft by failure to make required disposition of property. The charge was contained in a state grand jury indictment returned on August 24, 2010.
 
A licensed insurance producer, securities dealer and certified financial planner, Trolaro worked for Prudential Insurance Company of America's agency in East Hanover, N.J.
 
Trolaro admitted that between June 4, 2008, and February 12, 2010, he stole $1,918,000 that nine clients placed under his management for investment purposes. Instead of investing the funds, Trolaro lost most of the money in online gambling, according to prosecutors. The amounts stolen from each of the clients ranged from $46,000 to $910,000.
 
After discovering the fraud, Prudential fired Trolaro and referred the matter to the N.J. Office of the Insurance Fraud Prosecutor for further investigation.
 
Prudential has paid the victims all of their losses so they have been made whole.
 
Trolaro is scheduled to be sentenced on August 19. Under the plea agreement, the state will recommend that Trolaro be sentenced to ten years in state prison. He must pay full restitution to Prudential Insurance Company.
 



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Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

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