Tobey Maguire Settles Online Poker Lawsuit
Tobey Maguire is one of over a dozen people who have been sued for winnings earned through a series Texas Holdem poker matches. The matches were operated by Bradley Ruderman, a former hedge fund manager. Ruderman was convicted of operating a Ponzi scheme in 2009.
Prior to his conviction, Ruderman ran a series of poker games at various houses and hotels in the Beverly Hills area. According to allegations, Maguire won approximately $311,000 from Ruderman between 2007 and 2008. The funds distributed to Maguire and the other players came from money stolen from investors in Ruderman’s Ponzi scheme.
At least 22 investors were bilked out of nearly $44.3 million in Ruderman’s Ponzi scheme. Ruderman allegedly used some of that money to cover his gambling losses.
Ruderman is serving a 10-year sentence in federal prison, after being convicted for numerous counts of fraud. His estate is trying to recoup some of the money he lost gambling to repay the victims of his Ponzi scheme.
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Maguire has agreed to pay $80,000 to a U.S. Bankruptcy Court Trustee. The money will be set aside for Ruderman’s victims.
Other celebrities involved in the case include actors Gabe Kaplan and Nick Cassavetes. Most of the individuals being sued haven’t made any statements of the case so far. However, Kaplan agreed to repay nearly half of his $62,000 winnings back in August.
None of the defendants face criminal charges. However, the bankruptcy trustee for Ruderman’s estate said the defendants will be required to repay about $1.5 million of their winnings. According to the lawsuits, the players chose to play an illegal and unlicensed game. Therefore, any wagers they made were not legally enforceable contracts and they had no right to expect payment.
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