Posts Tagged ‘Erick Lindgren’

PokerStars sues Erick Lindgren for $2.53 Million

Saturday, February 7th, 2015

eirck-lindgren-gambling-debtsErick Lindgren has seen his reputation in the poker world erode very quickly over the past few years, based on the fact that he’s failed to repay gambling debts. And now, he’s taking center stage in a lawsuit that’s been leveled by PokerStars’ parent company, Rational Group, which is seeking over $2.53 million from Lindgren.

Rational, which also purchased Full Tilt Poker in 2012, wants repayment for a double $2 million loan that the 38-year-old poker pro received from Full Tilt in April 2011. One of the $2 million loans was an accident, and Lindgren refused to give the money back. The WSOP champion also got another $531,807 for live tournaments because he was a Full Tilt Pro at the time.

However, Black Friday quickly struck after the loans, which hampered Full Tilt’s ability to get their money back. By June 2011, the beleaguered poker site lost their gaming license and stopped offering real money games, making it seem even less likely that Lindgren would have to repay the funds.

But now that Rational owns Full Tilt, they aren’t letting the matter drop – even after a 2012 bankruptcy by Lindgren, where he owed $4.8 million to creditors along with another $3.8 million to the IRS. And according to Rational, the bankruptcy doesn’t wipe out the debt owed to Full Tilt.

As mentioned before, Lindgren’s reputation is about on par with the guys who ran Full Tilt before Black Friday. He once discussed his gambling problem in an interview with Bluff Magazine, where he stated the following:

“I think that a lot of people don’t realize that since 2004, I’ve paid back, before I ever got a Full Tilt payment, I had paid back over $3 million in debt, I was probably $6 million in debt in ’04 and I paid about $3 million and then at various times I lost a lot of money in golf or sports. I took some hits and I was probably at my worst about $10 million in debt. Going in to Black Friday I think I had it down under $2 million.”

Given that he’s now facing a $2.53 million lawsuit, Lindgren could be headed for yet another major downswing in his life. But then again, he probably should’ve just given the $2 million back that was mistakenly sent to him a second time.

What the Lederer Files have taught us about Howard

Friday, September 21st, 2012

Howard Lederer is currently in the process of doing a big interview with PokerNews that centers on his involvement in Full Tilt Poker’s demise. The seven-hour interview is called “The Lederer Files,” and it’s supposed to give Howard an opportunity to explain his actions. But with The Lederer Files over halfway finished, all we’ve gotten so far are the ramblings and accusations of a sociopath.

Rather than accept responsibility for his actions, Howard chose to deflect blame on others such as Ray Bitar. He said that Bitar was severely underqualified to serve as Full Tilt’s CEO and too incompetent as well.

Lederer also took aim at Phil Ivey by saying his lawsuit ruined any chance to sell FTP. Howard’s exact quote was, “He wasn’t speaking out for anybody except himself. He had a moral obligation to the poker community to do everything he could to, at the very least, not damage the company he had greatly profited from – the lawsuit was absurd.”

The onslaught of blame didn’t end here though because Lederer also brought all of the poker pros who took loans from FTP into the matter. He specifically identified Ivey, John Juanda and Erick Lindgren by saying that these players were unwilling to pay millions in loans back to Full Tilt. He said, “We got a lot of resistance. As of the end of May 2011, the only member who paid back what he owed the company was me. I owed the company $700,000 and I paid it in late May.”

What a surprise that Lederer would take this opportunity to say that only he repaid the loan. Of course, it’s a lot easier to do so when you’ve taken well over $40 million from the site – much of which came from player deposits. This being said, it’s no wonder why the US government wants around $40 million back from Howard through a civil suit.

Daniel Negreanu talks Full Tilt Poker, Erick Lindgren

Wednesday, March 14th, 2012

Daniel Negreanu came out with yet another interesting interview as he discussed several subjects including Full Tilt Poker (again), Annie Duke, Erick Lindgren being broke, and a rumor that Layne Flack owes him money. First on the itinerary was how Negreanu thinks that it’s wrong how so many scumbags in the poker industry can keep screwing up, yet get high-profile jobs.

He cited Annie Duke as an example by saying that she represented UB Poker, and when they went down in scandal, she got a commissioner job with the Epic Poker League. This is sure to keep up the long-running feud that he’s had with Duke over the years.

Moving along, KidPoker also dropped the bombshell that he highly doubts former Full Tilt Poker players will be paid. Furthermore, he says that players need to forget about their money because Bernard Tapie is not going to complete the much-discussed FTP deal. Instead, he thinks that Tapie is just trying to make excuses for why the deal can’t be completed, such as Full Tilt pros owing the site money.

Another hot topic that was brought up was the subject of Erick Lindgren being broke. Negreanu stayed away from bashing Lindgren too hard, and chose to focus on how players who can’t pay back debts aren’t necessarily bad people – especially if they borrow with the intent to pay back the cash. During this discussion, the interviewer brought up a rumor about Layne Flack owing Daniel Negreanu money, which KidPoker chose to ignore.

One final point worth mentioning here is that Negreanu doesn’t think publicly outing those who owe money is productive. Instead, he believes that this makes it harder for the debtor to get the necessary money needed to pay others back. You can listen to the whole interview here.