By Nathan Carroll, Rakeback.com Poker News Staff Writer
Actor Tobey Maguire, star of the Spiderman franchise and numerous other Hollywood hits, is one of more than a dozen high-rolling poker players being sued over their involvement in a million-dollar underground game held in Los Angeles.
The case was filed by duped investors in Ruderman Capital Partners, a hedge fund managed by Brad Ruderman of Beverly Hills. It turns out Mr. Ruderman was being less than honest with his partners, and as a recent FBI investigation uncovered, lost over $5 million of investor funds in the underground game.
According to Star Magazine the game ran twice weekly, hosted in luxury suites in LA hotels such as Four Seasons and The Viper Room. Several other A-list actors regularly attended including Leonardo DiCaprio, Matt Damon and Ben Affleck. The regular buy-in was $100,000 and was occasionally doubled to $200,000.
The duplicitous CEO Ruderman has been fingered by the feds and is currently serving a 121 month sentence in a prison in Texas, but justice alone was not enough to satisfy his investors. They want their money back. The lawsuit brought against Maguire and others argues that the plaintiffs are legally entitled to the money Ruderman used to pay his debts from the game.
According to the lawsuit filings Maguire won over $300,000 from Ruderman, and in some cases received payment by bank wire directly from the account holding Ruderman Capital funds.
An anonymous source told Star Magazine that Maguire won up to $1 million from the game every month for three years. "That means he could have made up to $30 or $40 million from these games," said the extremely optimistic insider.
Poker pro Dan Bilzerian, also named in the suit, has a very different read on Maguire, branding him with the worst name a poker player can be called, "nit." Never one for subtlety, Bilzerian took things a bit further. "He's cheap as fuck and plays like a cheap bitch."
Only time will tell how the lawsuit plays out, but it's definitely a tough sell for the plaintiffs. The moral of the story: make sure your money manager is an excellent poker player.
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