Star Settles Over Ponzi Schemer's Poker Games

Nov 29 2011 | 9:21am ET

Actor Tobey Maguire has agreed to surrender a substantial chunk of his winnings from high-stakes poker games run by a hedge fund fraudster.

Maguire settled the lawsuit filed by the receiver in the Bradley Ruderman case for $80,000, less than the $311,000 originally sought. In the suit, trustee Howard Ehrenberg said that Maguire won the money in games organized by Ruderman in 2007 and 2008.

Maguire had originally responded that he did nothing wrong and shouldn't have to return money fairly won from a man who turned out to be a Ponzi schemer. He also noted that he lost almost $170,000 in the games, against his $311,000 in winnings.

Ruderman is serving more than 10 years in prison for defrauding investors of $38 million.

Maguire wasn't the only celebrity caught up in Ruderman's games. Ehrenberg also sued 21 other people, including 1970s television star Gabe Kaplan and private equity honcho Alec Gores.


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    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…

Publisher's Note