Posts Tagged ‘Full Tilt sues 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.