Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Monday, May 27, 2024 | Back issues
Courthouse News Service Courthouse News Service

Poker Stars Says Champ Owes It $2.5 Million

LAS VEGAS (CN) - Two-time World Poker Tour champ Erick Lindgren owes PokerStars $2.5 million for loans and an "erroneous" $2 million deposit, the company claims in court.

Rational FT Enterprises sued Lindgren on Jan. 30 in Federal Court, claiming he owes it $531,807 for a loan and another $2 million the company says it "erroneously" deposited into Lindgren's account in April 2011.

The company claims it accidentally sent Lindgren a second check for $2 million a week after it sent him $2 million as a payment from Full Tilt Poker.

Rational FT Enterprises, based on the Isle of Man, does business as PokerStars.

It claims that Full Tilt Poker had loaned Lindgren $531,807 to play in professional poker tournaments and promote the Full Tilt Poker brand.

Lindgren, 38, won two World Poker Tour titles, two World Series of Poker bracelets and more than $9 million in career winnings, according to CardPlayer.com.

But he became heavily indebted and entered a rehabilitation program to deal with a gambling addiction, according to a January 2013 profile published by Bluff.com.

In September 2011, the Department of Justice accused Full Tilt Poker of running a $440 million Ponzi scheme and seized its assets , as Courthouse News reported at the time.

Rational FT says Full Tilt Poker assigned the rights to Lindgren's debt to PokerStars, which renewed efforts to collect the money in 2012.

Lindgren then filed for bankruptcy and does not dispute the validity of the debt, which bankruptcy court did not discharge, according to the new complaint.

Because the bankruptcy proceedings are done and the court did not discharge the debt, Rational FT says it can pursue collection.

It wants the $2.5 million, and damages for conversion, unjust enrichment and breach of contract.

It is represented by Craig Denney with Snell & Wilmer, of Reno.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...