http://www.pokernews.com/news/2016/0...eves-24084.htm

Samuel Touil is the individual who scammed Galfond for $200,000 (250k originally, but 50k repaid).

This happens all around the world

I also learned the hard way not to lend money to poker players

I think he is right to make story public

200k down, couple mil to go. keep fighting the good fight Sam!

I feel like the story of some random degenerate not paying back a $250k loan is a lot less interesting than the story of why Galfond would loan a random degenerate $250k in the first place.

winna winna chikan dinna

Galfond why, why!

Sounded like he was the spot in their big games and prob from the sound of it had some sort of bone fides (rich daddy etc.).
I play 3-4 sessions a week live, and I don't know why ppl loan others money at the casino (exceptions for friends outside of poker/ gambling) you just hear too many horror stories at the table.
Recently, ppl in my room were talking about another player in the room who owed a significant amount to another player (creditor1) and how the player loaned him money after knowing that the player (debtor) had not repaid a debt to another player (creditor2) in the room. Creditor1 just convinced himself that the debtor was a "good guy" and going to pay him back 🙄

There might be a cool story to it, but it's far more likely that it's just the "standard" thing.

Game centers around a degen, he runs out of money and looks for somebody to borrow from. One guy tells his acquaintances in the game that he could do it and they are like "go for it, I know he's totally good for it, don't worry". Guy gives the degen money so the game keeps running and at first everybody benefits from it, except for the degen. In the end, after the guy doesn't get his cash back, his acquaintances are like "sorry bro, tough luck. didn't think that would happen".

i dont understand how jman would think he can get his money back after this:

"Sammy had more than he owed me sitting on the table."

super scummy

Nicely done, Phil. F Sammy.

Gotta hire those hitmans i guess.

A good rule in life to follow is don't loan money to poker players unless you're willing to just write it off.

You can edit that to just don't loan money unless your willing to write it off.

Seems a little underwhelming for Phil to write an op-ed about speaking out and only out one guy, no? Or was he implying he's only been scammed for significant money that one time?

As a show of faith you should donate any money you made from producing videos, coaching, or any profits on the table while you were coaching/producing videos. Might as well go as far as donate any profits you made on days you posted strat on 2p2 also.

I mean its one thing to apologize for doing the things you harass Galfond over, but its another to show true remorse.

"Many people don't "out" their thief for fear of upsetting them, or for fear of losing leverage. Many believe that their debtor would pay if he were able to, or that they are close to a resolution. In some cases, this is true. In many, the debtor is simply keeping up appearances in order to maintain his reputation."

I suspect this is true for a very close friend of Galfond.

classy

phil gonna op ed piece about guy laliberte multi accounting or nah?

I'd think that self-interest is a bigger factor than he mentions. The worse the debtor's reputation is, the less chance they have of obtaining the funds they can use to repay the debt.

I don't really see the scam here just an unpaid loan.

This is the second time pokernews has let someone out another player over a debt in the last few months.

+1

Yeah someone reputable must have vouched, and Phil thinks that person doesn't also need to be outed, which seems inconsistent

My question to Phil would be - Did he speak to this guy before the story went live?

I'm assuming yes as the last line in the article said pokernews did seek a comment. Shows me guy doesn't care. And since the casinos don't care -nothing will happen

GG 200k.

I once heard a story about a fool and his money...

Also aren't unpaid gambling debts a criminal offense in Nevada? I'm pretty sure the casinos lobbied and got it on the books to make degen whales pay their markers. Edit: lol nvm it's debts to licensed lenders that is a criminal offense...