Tobey Maguire Sued For Poker Winnings From Ponzi Scheme VictimsJune 23, 2011 9:43 am
Spider-man actor Tobey Maguire has found himself in a spot of bother after the duped investors of a ‘Ponzi scheme’ organised by Brad Ruderman decided to go after some of the beneficiaries of Ruderman’s extravagance with their money.
Brad Ruderman was the CEO of Ruderman Capital Partners, but is now currently serving a 10 year sentence in a Texas prison for embezzling $44 million of investors money in a wire fraud scheme.
According to FBI information, Ruderman lavished at least $8.7 million of that money on extravagant personal expenses, as well as losing a further $5.2 million playing at a regular clandestine poker game held in suites at some of Beverly Hills top hotels.
Apparently, the No-Limit Texas Hold ’em games had a buy-in of $100,000 and boasted an A-list of celebrities, including film stars Leonardo DiCaprio, Ben Affleck and Matt Damon, none of whom are being sued.
Currently, 22 celebrities are being sued including Tobey Maguire, Gabe Kaplan, film director Nick Cassavetes, record label owner Cody Leibel and Rick Salomon, possibly as they actually walked away winners from the high-rolling poker games.
It is believed Tobey Maguire, 35, could have won up to $1m a month over the period of the games which ran for three years. This included winning $311,000 from Ruderman, helped along by a monster pot worth $110,000 in 2007.
However, wronged investors are now seeking to retrieve their money, and as it reads on the lawsuit:
“As part of the scheme, funds invested in [Ruderman] were transferred to persons such as Defendant [Maguire] who received the funds on account of Ruderman’s gambling losses and on account of Defendant’s gambling winnings.” [Maguire is] “not entitled to receive the transfers from the Debtor, which transfers were [comprised] of improperly-diverted investor funds.”
Californian law prohibits playing for money in unlicensed poker games, although culprits are rarely prosecuted. Thus far, there have been no criminal complaints made against the players but it is believed the IRS may now take an interest in the case.