Midway Poker Tour Shadiness. Possibly $60k+ in precious metals stolen - Page 4 - Poker News

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Midway Poker Tour Shadiness. Possibly $60k+ in precious metals stolen

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10-04-2020 , 10:40 PM

#76

BDHarrison

Pooh-Bah

Join Date: Nov 2016 Posts: 4,529

Well, Dan posted a screenshot of text messages. Doing the math, we can now narrow down the owner of the number he didn't hide to one of three people.

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10-04-2020 , 10:49 PM

#77

TheProdigy93

journeyman

Join Date: Mar 2013 Posts: 273

Quote:

Originally Posted by BDHarrison

Well, Dan posted a screenshot of text messages. Doing the math, we can now narrow down the owner of the number he didn't hide to one of three people.

He blocked me from his personal and midway page lol.

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10-04-2020 , 10:50 PM

#78

shhh

centurion

Join Date: Nov 2012 Posts: 190

he blames the unnamed “coin dealer” and says he is the victim claiming to be out $58k as if that would change anything

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10-04-2020 , 10:53 PM

#79

lsjfklds

newbie

Join Date: Jan 2014 Posts: 37

So I believe the coins are real after doing some at-home tests and talking with some people. Just at a terrible exchange rate

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10-04-2020 , 10:58 PM

#80

BDHarrison

Pooh-Bah

Join Date: Nov 2016 Posts: 4,529

Quote:

Originally Posted by TheProdigy93

He blocked me from his personal and midway page lol.

He appears to have changed it, but by replacing it with the person's name instead of cropping it out, so now I know whose number it is. You should still be able to see posts if not logged in.

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10-04-2020 , 10:59 PM

#81

Lawnmower Man

Pooh-Bah

Join Date: Feb 2015 Posts: 4,460

Quote:

Originally Posted by lsjfklds

So I believe the coins are real after doing some at-home tests and talking with some people. Just at a terrible exchange rate

Good, you didn't lose the max. Now figure why he was "forced" to pay $11 over spot to some international man of mystery who can't spell his own name.

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10-04-2020 , 11:00 PM

#82

CBorders

Carpal \'Tunnel

Join Date: Feb 2008 Posts: 16,505

Quote:

Originally Posted by BDHarrison

According to what Danny posted on Facebook, he proposed going through the Chicago Coin Company. The Vice President of Operations the Chicago Coin Company is Glen DeCosta. According to their website, his hobbies include poker. Do they know each other through poker?

Wow, in that case he was really lucky to have found a silver dealer -- a poker player from the midwest, no less -- who happened to have enough stock to cover the sum!

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10-04-2020 , 11:09 PM

#83

TheProdigy93

journeyman

Join Date: Mar 2013 Posts: 273

Quote:

Originally Posted by CBorders

Wow, in that case he was really lucky to have found a silver dealer -- a poker player from the midwest, no less -- who happened to have enough stock to cover the sum!

Especially considering how hot the market is and how hard it is for shops to keep things in stock right now, having 200K inventory on hand is such a coincidence.

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10-05-2020 , 12:28 AM

#84

gh0ulpatrol

grinder

Join Date: Jan 2020 Posts: 450

There's about a 0% chance it's what actually happened, but it does illustrate a pretty creative way to get around the legal limitations. "Buy" a bunch of worthless things with the prize pool funds (minus your cut), then tell the people who cashed to go to the guy you bought them from to sell for the exact same price.

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10-05-2020 , 12:43 AM

#85

onemoretimes

Pooh-Bah

Join Date: Sep 2012 Posts: 3,535

Quote:

Originally Posted by ArBar

The price discrepancy is consistent with what I have seen at coin shops. These new bullion coins ("collectible" silver rounds) are listed at prices significantly above spot. For something closer to spot I would think they would use damaged/low quality US silver dollars.

What is shown in the picture is considered a "generic" coin and has the least premium. About $1.50 over spot. Damaged and low quality silver dollars still demand much more of a premium, currently about $4 over spot. Sometimes people are actually willing to pay more for "low quality" coins that have tarnished badly as it gives them a unique look.

The whole story is pretty funny, and these people need to go to jail.

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10-05-2020 , 01:05 AM

#86

hmm422

journeyman

Join Date: Jul 2014 Posts: 229

Quote:

Originally Posted by onemoretimes

Not on short notice necessarily for the amount. I can believe $30 an ounce, not $35, but if there were more expensive varieties it's not that far off. There is a massive shortage now and the price varies throughout the country.

It's a civil matter, not a criminal one as well. It's not enough for anyone to sue, even the winner, so good scam. Silver will hit $100 an oz, so this might be the best way to get scammed ever in poker.

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10-05-2020 , 01:07 AM

#87

RomanBanker

enthusiast

Join Date: Jun 2012 Posts: 69

Quote:

Originally Posted by dwestin312

Its not just Dan Bekavac involved here. There are many scammers here who knew what was happening and have known they were paying out coins to winners but didn't tell the players because they knew they wouldn't show up. They were bragging about it a month ago. Jason Trezak is Bekavacs right hand man. Eric Anderson formerly of MSPT has been heavily involved in this new tour and trying to sell casinos and helped run this entire event, he was also running a huge PokerBros scam and got the entire app shut down in Minnesota is what I heard, the state of Minnesota is looking into him for that. Jeremy Smith who was recently let go by HPT was also promoting this event and handled all the staffing. These guys all knew and were trying to line their pockets at the expense of players.

I was not at this event, but would put my net worth on Eric Anderson having nothing to do with the issues that happened here. This a genuine dude, whose only fault in this matter is likely that he is overly trusting of others. I have a near zero doubt based on everything in this thread that this was taken advantage of and that Eric's good reputation within the tournament circuit was used to lend credibility behind the event and lure more players.

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10-05-2020 , 02:02 AM

#88

dhubermex

old hand

Join Date: Aug 2010 Posts: 1,672

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10-05-2020 , 03:11 AM

#89

wj94

Carpal \'Tunnel

Join Date: Dec 2011 Posts: 7,951

Well the guy posted a text message conversation on the FB page and he has green text so clearly can’t be trusted.

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10-05-2020 , 03:20 AM

#90

Loctus

Carpal \'Tunnel

Join Date: Nov 2008 Posts: 11,160

****ing lol

How do they not have some gold on hand

Or a diamond for lulz

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10-05-2020 , 03:54 AM

#91

borg23

Carpal \'Tunnel

Join Date: Nov 2012 Posts: 15,044

Quote:

Originally Posted by Couchsock

Also, OP, hold onto those metals for some years if you don’t need the money immediately. Extremely likely you’ll get your 30% and then some.

he's still getting ****ed for 30 percent

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10-05-2020 , 03:58 AM

#92

Phil9

old hand

Join Date: Aug 2004 Posts: 1,608

Quote:

Originally Posted by Couchsock

Ok buddy. It’s $700 not life changing money lol. Get a grip. You probably know nothing about precious metals or their role in global currency landscape. All I’m saying is if you own none it wouldn’t be the worst idea to hold onto them. There’s a reason central banks own thousands of tons of gold per country (hint it’s because every fiat currency ever created eventually fails due to greed and all that’s left again is sound money)

This is either an elaborate troll job or one of the dumbest posts I've ever seen.

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10-05-2020 , 04:09 AM

#93

Phil9

old hand

Join Date: Aug 2004 Posts: 1,608

Hard to believe a random poker tournament taking place in the middle of a pandemic at a Sheraton hotel that probably didn't have to abide by most normal gaming regulations would turn out to have various forms of false advertisement and fraudulent behavior. My faith in humanity is truly gone!

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10-05-2020 , 04:12 AM

#94

Abbaddabba

Pooh-Bah

Join Date: Jul 2005 Posts: 5,807

sites that sell them in large quantities price them at around $30 with free shipping for orders over x thousand dollars. i doubt any retailer would be willing to pay $25 a piece to some guy off the street.

and unless you final tabled the thing it's not even worth shopping around for better prices.

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10-05-2020 , 06:50 AM

#95

MOSH_POT

centurion

Join Date: Apr 2018 Posts: 116

Quote:

Originally Posted by madlex

Is it true that Illinois charity card rooms aren’t allowed to pay out more than $500 above buy-in for poker tournaments?

If that’s the case, shouldn’t Illinois players know about that?

230 ILCS 30/8(6):

(6) At the conclusion of the event or when the participant leaves, he or she may cash in his or her chips, scrip, or play money in exchange for currency not to exceed $500 in cash winnings or unlimited noncash prizes. Each participant shall sign for any receipt of prizes. The licensee shall provide the Department of Revenue with a listing of all prizes awarded, including the retail value of all prizes awarded.

Full Act: https://www.ilga.gov/legislation/ilc...asp?ActID=1403

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10-05-2020 , 07:44 AM

#96

Rojono88

enthusiast

Join Date: Sep 2017 Posts: 90

So when is the next tournament? Asking for a friend.....

Quote

10-05-2020 , 08:21 AM

#97

madlex

Carpal \'Tunnel

Join Date: Jan 2009 Posts: 17,446

Quote:

Originally Posted by MOSH_POT

Thank you.

Next question: Why are players surprised that the tournament had to find a “creative” way for payouts if it’s known that gaming regulations don’t allow for anything else?

Not trying to put any blame on the players, this whole thing clearly falls on the organizers. Just trying to wrap my head around why nobody saw that coming.

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10-05-2020 , 08:40 AM

#98

rednumber2

stranger

Join Date: Oct 2020 Posts: 5

https://www.courtlistener.com/docket...llc-v-bekavac/

Quote

10-05-2020 , 08:42 AM

#99

rednumber2

stranger

Join Date: Oct 2020 Posts: 5

https://www.courtlistener.com/docket...llc-v-bekavac/

Quote

10-05-2020 , 08:59 AM

#100

Midwestpokerguy

stranger

Join Date: Oct 2020 Posts: 7

Quote:

Originally Posted by rednumber2

https://www.courtlistener.com/docket...llc-v-bekavac/

Yes he is. Anybody from the Chicago area that knows him would be able to tell you stories. It will take some time but he will get indicted. I guarantee there is an investigation that was started by the attorney general

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