Toby McGuire Busted in a multi-Million Dollar Poker Ring?

Here is a link to this story:

http://www.radaronline.com/exclusive...eck-matt-damon

It was reported by Yahoo news so I am assuming it is true. Have any of you heard anything about this?

Very interesting if true!

I saw the article you posted yesterday but beyond that I haven't seen anything. There is a huge 2+2 thread on it but it's based around the same article.

Ive heard many thing similar to this about Toby Macguire in the past, so it can be true

http://www.poker1.com/archives/14010

I agree with Mike ! Wally


http://www.poker1.com/archives/14010

I'm not sure I understand what it is he's supposed to be getting sued for - OK the games were technically illegal but there's nothing saying Maguire and co were the ones organising the games, they were just playing in them and that's a "crime" the plaintiff is equally guilty of. There's also no indication that Maguire knew he was being paid with the proceeds of crime. So... speculative / nuisance lawsuit anyone?

Basically, one of the players in the game was a hedge fund manager. The manager is now in jail be because he was stealing clients funds, and doing other illegal things. Essentially he was running a ponzi scheme. Think Bernie Madoff but not nearly so large scale. Anyways, he was in debt to several players in the game including Macguire. Apparently he transferred clients funds (illegally) to Macguire and others to pay his poker debts.

No one is saying that Macguire or the others knew the money was stolen but since it was they are being sued to get the money back.

That''s how I understand it, if someone has a correction or a clearer explanation please share.

Does this mean he will no longer be playing in the CC FTP Freerolls? And what about the team in the league?
Caught in the web.

Ah - so if it weren't for the movie pokerstars and the word "poker" this would be just another completely pedestrian / standard / boring lawsuit brought in the followup to a corporate fraud case then?

Yes.

I wouldn't mind sitting at a table with these guys

Eh..Yes and no. Obviously there were some big fish. Reports have Matt Damon and Leo DiCaprio (sp) as big losers but Macguire apparently won a lot and some famous pros were allowed to sit. Reports of Doyle Brunson and Gabe Kaplan playing. Ben Affleck played. He has won a small tourney and is reputed to be a pretty good player.

Also, any "outsiders" allowed in were expected to give lots of action and the lady running the game was heavily tipped (presumably to avoid a rake). Would it be fun and a hell of a story? Yes. +EV for the average grinder???????

I see a MOVIE in the works...maybe we already have the actors for the movie huh?

To say that he was "busted" gives the impression he did something illegal, this is the slant all the major news media outlets seem to be giving...which doesn't appear to be accurate at all.
He played in high stakes home games. There's no mention that the hosts were charging a rake. From my understanding of the law, as long as there is no rake, there is no crime. This is no different from a couple of buddies getting together to play poker in the privacy of their own homes...except the stakes are higher...but they are relative to their own lifestyles.
So one guy, is stealing from people in order to feed his gambling habit. There's no evidence to show that the others knew about this. And now the people who stole from are suing the people involved in the poker game..as if they knew something about this?
If someone stole from their own employer, and used the money to play in a local casino, would the employer have a hope in hell of suing the casino successfully to get the money back? Pretty doubtful. And this is basically the same thing, since the home games themselves were not illegal. But because it is "poker", the jilted investors are going to try to play the "poker is criminal" card in order to get some money.
Perhaps they should have done some due diligance before investing with this loser in the first place.