Dan Shak Faces US Trading Ban

Dan Shak Faces US Trading Ban

Thursday, 2 October 2014

Hedge fund manager turned high stakes regular Dan Shak will have more time focus on his hold'em game if US regulators have their way.

The Commodity Futures Trading Commission has this year's PokerStars Caribbean Adventure Super High Roller runner-up in its sights. Shak faces fines a life ban from trading after being accused of violating a previous two-year ban.

According to the CFTC, the 55-year-old was involved in “the exact type of commodity futures trading that he agreed to be banned from trading … (and) Unless restrained and enjoined by this court, Shak is likely to continue to engage in the acts and practices.”

Shak's legal team gave short shrift to the latest developments. Attorney David Kovel told Reuters, “It’s shocking that the CFTC will devote this kind of resources at such a minor technical infraction. We also dispute the CFTC’s allegation that he did not disclose the violation to the CFTC.”

Shak has career poker earnings of over $7m and is a regular in high stakes events around the world.

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