Apparently Tobey Maguire knows when to hold ’em, when to fold ’em, when to walk away and when to settle up. The AP is reporting that Maguire has settled the lawsuit over his high-stakes poker winnings.
Maguire agreed to pay $80,000 to settle that was filed over the more than $300,000 he was paid by convicted Ponzi scheme operator Bradley Ruderman as part of some high-stakes Hollywood Texas Hold ‘Em games, according to court documents. If the judge approves the settlement, Maguire will pay the money to a bankruptcy trustee who is tryiing to get back the money that Ruderman bilked from investors in his Ponzi scheme. The money will be used to pay the victims of the scheme.
Maguire and other players, which include other celebrities and businessmen, were unaware of the Ponzi scheme and that that was where their payouts were coming from. Maguire’s settlement states that he disputes he violated any laws in regard to the poker games, but was agreeing to pay the settlement to avoid a costly court battle.
The trustee alleges that no one from the games has a right to keep their winnings, as the poker games were unlicensed and held at hotels and private residences.