Monday, 28 July 2014
Last updated 5 hours ago
Jul 6 2011 | 11:22am ET
Actor Tobey Maguire doesn't think he should have to cough up all of his poker winnings just because he won the money from a Ponzi schemer.
The court-appointed receiver in the Bradley Ruderman case wants the Spiderman star to return $300,000 he won in allegedly illegal poker matches organized by the former hedge fund manager, who is serving a sentence of more than 10 years in prison for defrauding investors of $38 million.
Maguire has denied that the games were illegal and that he did anything wrong. His lawyer also noted that he lost almost $170,000 during the "high stakes, clandestine" games, and if the court doesn't buy his argument that he should get to keep the three hundred grand, he should at least be credited for his losses.
Maguire is among 22 people, including private equity honcho Alec Gores, sued by trustee Howard Ehrenberg for about $4 million. One name not mentioned is that of New York Yankees third basemen Alex Rodriguez, who played in at least one of the games organized by Ruderman, Star magazine reports.
A-Rod was also involved in a separate game with a $40,000 buy-in recently, according to the magazine.
The slugger's spokesman denied that A-Rod, who has a penchant for high-stakes gambling, participated in the games. But Major League Baseball, which scolded him for his gambling six years ago, is looking into the matter, anyway.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…