Erick Lindgren Asked To Repay $2.5m FUll Tilt LoanFebruary 5, 2015 12:32 pm
Erick Lindgren provides one of the most stunning examples of a poker pro’s fall from grace, after developing a serious gambling problem and blowing up to $10 million of the money he won playing poker betting on sports. Needless to say, Lindgren’s story is not unique and the poker world is replete with stories of pros who strayed away from their specialized field of expertise only to bust their bankrolls on craps, roulette, or in Lindgren’s case sports betting.
Most of the damage Erick ‘Edog’ Lindgren caused was in 2011, when he said he gambled “way too much” and ended up owing a lot of people a “bunch of money.” Since then, the poker pro has entered a rehab program and come to a resolution with his creditors, although he apparently has been struggling in paying them off. Unfortunately, Erick Lindgren’s financial troubles are likely to continue for a while to come, too, as PokerStars is now pursuing the 38 year-old for a $2.5 million debt he owed Full Tilt Poker, which failed to be discharged by bankruptcy court after the poker room was acquired in 2012 by The Rational Group.
In addition to the $2.5 million debt, The Rational Group is also seeking further damages for breach of contract and unjust enrichment, and as part of the lawsuit states:
“Various officers of Full Tilt corresponded to Lindgren requesting that Lindgren return the full amount of the erroneous deposit, which Lindgren failed to do.. Full Tilt also requested the repayment of the principal of, and payment of the interest on, the loan advances, but Lindgren has persisted to wrongfully retain the total such loan advances and the erroneous deposit, which is a total amount of $2,531,807.”
In 2012, Lindgren filed for bankruptcy with $4.8 million in personal debts, and a further $3.8 million owed to the IRS. With his bankruptcy process now finished, PokerStars has now resumed its efforts to retrieve the money.