Andrew Feldman loses High Court cash battle

Andrew Feldman loses High Court cash battle

Friday, 11 June 2010

Last month we brought you news of a very strange court case involving Andrew Feldman and a spread betting rabbi. The judge at the High Court has made his ruling and it isn't good news for the Full Tilt pro.

The judge at the High Court ruled that Feldman must pay back £136,000 plus £20,000 in costs to rabbi Simon Nissim who had lost the money while spread betting on the poker pro's behalf. Nissim argued that Feldman had agreed to pay any loses incurred while spread betting but Feldman countered that the rabbi had acted beyond their original arrangement by placing many more bets than had been agreed.

The judge ruled that: "The undisputed facts provide more than sufficient grounds upon which to conclude that Mr Feldman agreed to indemnify Mr Nissim and acknowledged that the amounts claimed by Mr Nissim fell within the scope of the agreed indemnity." adding "Mr Feldman suggests that if the net result had been a positive one (on spread betting), Mr Nissim would have claimed the bets for himself; but that because net losses were made, Mr Nissim 'had retrospectively sought to allocate to me bets that he in fact made on his own behalf'."

The judge said that this “serious allegation” was “inherently unlikely” and ordered Feldman to pay the money.

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