Re: PokerCast Episode 222 - World Series of Poker Preview
Quote:
Originally Posted by Mike Johnson
Not adam but for me...
The main problem that makes the issue grey is that Howard has earned lots of money that legitimately belongs to him but has always been paid a bunch more recently that people feel doesn't belong to him. Remember, FTP was a profitable successful company for several years before things went sideways. Say Tom wins a $1mil bracelet bet from Howard, no could never determine for sure whether the money from Howard was being paid out of funds that he legitimately earned or funds that belonged to players. Fact is if he lost, Howard owes Tom his money just as equally as he owes FTP players their money. One debt is no more important than the other. The players won it at the tables, Tom won in it in a prop bet. A debt is a debt. The difference in the two cases is that the hedge fund scammer definitely paid his losses with stolen money(the only money he had) while Howard could hypothetically be paying his loss with his own earned money or with the player money(no one could ever be certain).
Durrrr is in such a tough spot. If he is agreeable to pay the debt if he loses(no matter how much he may despise doing it), then he has to be willing to accept the money if he wins(regardless of the possible shadiness behind the money he receives). I'd hate to be in Tom's shoes here especially if the bet with Howard is that big.
Also, can't compare Tom's spot to the Hollywood guys, because the law hasn't asked Tom for money. The law asked Tobey Maguire et al for $$.
They should just cancel the bet. Obv. circumstances changed a lot.
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