One of the biggest poker stories of 2011 is the high stakes poker lawsuit that involves both movie stars and professional athletes like Tobey Maguire, Ben Affleck, Alex Rodriguez, Matt Damon and Leonardo DiCaprio. The lawsuit arose because shamed hedge fund manager Brad Ruderman stole clients’ money, and lost almost $25 million playing against the aforementioned stars. In doing so, the jailed Ruderman left behind an angry trail of people who want their money back.
In all, 22 people who won money in the poker games were targeted in a lawsuit leveled by the investors, which included Tobey Maguire who was on the hook for $311k. What’s particularly notable about Maguire is that he recently settled with the investors for $80k.
Howard Ehrenberg, who led the Hollywood home poker games lawsuit, talked about how Maguire wasn’t trying to get a better deal than others involved in the suit as he said, “He did not end up with any better settlement than the others.” However, Tobey Maguire didn’t exactly think he was guilty of anything, and released a statement claiming he “strongly disputes that he violated any laws, rules or regulations in regard to participating in the poker games.”
With all of the rich playboys involved in this case, it’s likely that every one will agree to a lower settlement amount just to get out of the lawsuit. Apparently, over half of those being sued have already reached a settlement with Ehrenberg and the others.
This case certainly brings up a big debate about whether any of the Hollywood stars can truly be held accountable for the money that Ruderman stole and lost playing poker. Some people will claim that the players engaged in “illegal poker games,” but there’s nothing wrong with people getting together for home poker games in the US as long as rake isn’t being taken.
