Tobey Maguire settles poker lawsuit

Tobey Maguire settles poker lawsuit

Tuesday, 29 November 2011

Earlier this year we brought you news that actor Tobey Maguire and 21 other players, including former High Stakes Poker host Gabe Kaplan, had been sued for their involvement in a high stakes poker game.

The legal action was brought by a group of investors trying to recoup money scammed in a ponzi scheme which was then used in the high stakes Hollywood poker games. The Spiderman star was said to have won over $300,000 from hedge fund manager Brad Ruderman who reportedly lost $5.2m of investors' cash in the twice-weekly games held at luxury Beverly Hills hotels. Ruderman is currently serving a jail term on two counts of wire fraud and two counts of investor advice fraud.

Maguire has agreed to pay $80,000 to bankruptcy trustee Howard Ehrenberg who will in turn repay Ruderman's former clients.

The 36-year-old maintains that he and the other players were unaware that the money won came from illegal sources and agreed to the settlement to avoid a potentially costly court case.

14 of the 22 players involved in the case have now settled, including former High Stakes Poker host Gabe Kaplan who has agreed to pay $26,900.

Tags: Tobey Maguire, Gabe Kaplan, Hollywood