PokerStars sues Erick Lindgren over $2.5m in unpaid debts - Page 7 - Poker News

Yes, a thief would attract a lot of haters.

If you are unaware, these $2.5million owed to amaya is absolutely not the reason he is considered a degenerate thieving scumbag.

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02-07-2015 , 05:50 AM

#153

smashed you bro

journeyman

Join Date: Mar 2009 Posts: 226

2+2 Lawyers: What is the recourse if Lindgren did inform FT (Howard, et al) of this and they said something to the lines of "Don't worry, we'll just scrape some off of the top of your payouts until the debt is repaid?"

Don't most businesses with what is considered "bad debt" ie; large debt that someone owes without any sort of repayment plan (in conjunction with a state of financial position) write this off and deduct it as a liability in the sale of the company?

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02-07-2015 , 06:33 AM

#154

uradoodooface

banned

Join Date: May 2012 Posts: 2,381

Quote:

Originally Posted by King of the North

Yes, a thief would attract a lot of haters.

If you are unaware, these $2.5million owed to amaya is absolutely not the reason he is considered a degenerate thieving scumbag.

I asked before and the only thing that came up with $100k in fantasy sports. Is there anything else? I really couldnt give a **** about fantasy sports from someone who just went to rehab for gambling lol.

You guys act like he beat on your granny and jacked her prescription money. Is there a real reason to hate this guy?

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02-07-2015 , 06:46 AM

#155

Fishhead Ed

stranger

Join Date: May 2011 Posts: 14

Was watching a fairly recent (I think) Anthony Bourdain show on Netflix, in which he visits Vegas. He is playing blackjack and guess who is playing blackjack (and losing) at the same table? None other then our hero, the esteemed degenerate scumbag, Mr. Lindgren.

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02-07-2015 , 09:47 AM

#156

petjax

banned

Join Date: May 2011 Posts: 802

Quote:

Originally Posted by Gabethebabe

Pokerstars can safely deposit 2M$ accidently into my account, I'm not going to touch one cent of it

Before you have cashed it out run to the bank and withdraw it and hide it and say that you lost it gambling right???????

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02-07-2015 , 10:29 AM

#157

ty71087

Carpal \'Tunnel

Join Date: Jul 2009 Posts: 9,308

Quote:

Originally Posted by uradoodooface

Welll he stole from 2p2ers and basically shrugged them off

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02-07-2015 , 03:53 PM

#158

Bennett_St.Leger

newbie

Join Date: Jan 2015 Posts: 21

Quote:

Originally Posted by smashed you bro

That would be a modification of the loan and probably admissible parol evidence. Instead of a misappropriation of funds, it would just add to the existing loan. FT couldn't be so dumb as to make the loan only payable through payouts...could they?

Quote:

Originally Posted by smashed you bro

Don't most businesses with what is considered "bad debt" ie; large debt that someone owes without any sort of repayment plan (in conjunction with a state of financial position) write this off and deduct it as a liability in the sale of the company?

Some will write it off and some won't. That's up to the company as is how they account for bad debts---estimated, or simply journaling receivables and then writing them off when they deem they are not collectible.

Even if written off there is no implied waiver of the right to pursue the bad debt. Of course, if the debt is subsequently paid (whether a portion or in full) the books need to be adjusted.

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02-07-2015 , 04:30 PM

#159

dudeoflife

Pooh-Bah

Join Date: Nov 2006 Posts: 3,525

How does one get away with not paying 100k in fantasy sports and still show up to play the WSOP? Seems like there would be people willing to buy the debt at discount. If I could photoshop, I'd put edogs face on Worm saying, "it's highway time" to DN.

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02-08-2015 , 02:34 AM

#160

moki

Carpal \'Tunnel

Join Date: Oct 2005 Posts: 8,051

Quote:

Originally Posted by smashed you bro

Looks to me like this wikipedia page needs some editing:

http://en.wikipedia.org/wiki/Erick_L...ebts_and_rehab

...it's a little too generous.

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02-08-2015 , 02:54 AM

#161

moki

Carpal \'Tunnel

Join Date: Oct 2005 Posts: 8,051

Nice recap here:

http://www.bluff.com/magazine/broken...en-story-6094/

Quote:

That debt didn’t go away when Full Tilt Poker was acquired by PokerStars but Lindgren won’t be paying it back to Ferguson either. Lindgren’s debt was part of the purchase and he now owes the money to the online poker giant.

“My debt to Full Tilt was listed as $2.4 million and now Stars holds that debt,” said Lindgren, who lists his current total debts at around $3 million. He insists he’ll clear that debt and claims it was something that would have been taken care of had the DOJ not shut down online poker.

“I think that a lot of people don’t realize that since 2004, I’ve paid back, before I ever got a Full Tilt payment, I had paid back over $3 million in debt, I was probably $6 million in debt in ’04 and I paid about $3 million and then at various times I lost a lot of money in golf or sports,” said Lindgren. “I took some hits and I was probably at my worst about $10 million in debt. Going in to Black Friday I think I had it down under $2 million.”

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02-08-2015 , 03:00 AM

#162

random btn

old hand

Join Date: Mar 2011 Posts: 1,431

Quote:

Originally Posted by uradoodooface

how ****ing dumb are you? he stole money from this community, he should have his legs broken whenever he shows up in vegas.

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02-08-2015 , 03:44 AM

#163

kelnel

veteran

Join Date: May 2009 Posts: 2,718

Quote:

Originally Posted by uradoodooface

so if we make a bet together and I win, you will pay me right? But if I win, I will not pay you. Would you not hate me after that? you sir, are very kind.

wanna bet on something ?

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02-08-2015 , 03:55 AM

#164

DonkvFish

adept

Join Date: Jul 2008 Posts: 938

Damn Erick talks about being in debt for 2-10 million , like I talk to my girl about buying some random generic can of corn vs name brand.

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02-08-2015 , 04:24 AM

#165

poofinger

adept

Join Date: Jan 2009 Posts: 912

Quote:

Originally Posted by kelnel

so if we make a bet together and I win, you will pay me right? But if I win, I will not pay you. Would you not hate me after that? you sir, are very kind.

wanna bet on something ?

I think that's the way bets work?

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02-08-2015 , 11:55 PM

#166

e1cnr

veteran

Join Date: Jul 2011 Posts: 2,008

Quote:

Originally Posted by Fishhead Ed

Anthony Bourdain: Parts Unknown
season3 episode 2 Las Vegas

both he and Erica at table playing some sort of casino holdem
about 26 minutes in

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02-08-2015 , 11:59 PM

#167

rakemeplz

Carpal \'Tunnel

Join Date: Feb 2006 Posts: 12,648

Quote:

Originally Posted by random btn

how ****ing dumb are you? he stole money from this community, he should have his legs broken whenever he shows up in vegas.

I'm dumb too. Did Ivey not do the same thing?

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02-09-2015 , 12:06 AM

#168

MofoAgro

journeyman

Join Date: Nov 2014 Posts: 338

In my opinion Eric may actually be dumber than Erica. My favorite part of the article is that he thinks he will gamble his way out of his gambling debts. PS bought FT and all its accounts RECEIVABLE. What is so hard to understand. Edawg did not BK out of the debt either because he did not include it in his filing, the court did not allow it to be discharged or he never completed the BK and ended up withdrawing it.

Last edited by MofoAgro; 02-09-2015 at 12:12 AM.

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02-09-2015 , 12:18 AM

#169

YappingYoda

banned

Join Date: Jun 2010 Posts: 779

Quote:

Originally Posted by MofoAgro

Quote:

Originally Posted by rakemeplz

I'm dumb too. Did Ivey not do the same thing?

All poker pro's are scum.

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02-09-2015 , 01:32 AM

#170

Kenny S

adept

Join Date: Sep 2010 Posts: 1,183

Quote:

Originally Posted by moki

Nice recap here:

http://www.bluff.com/magazine/broken...en-story-6094/

Well he's full of crap about his debt being around 2 million because he got an extra 2 million dollar loan that he obviously owed and owes Haralabob at least 1 million so right there means he never got below 3 million. Add to it the fantasy sports debts and the tax debts and who is he kidding that he got it down to 2 million?

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02-09-2015 , 04:30 AM

#171

SprattFactor

journeyman

Join Date: Aug 2005 Posts: 234

haralabob sold his e-dog debt a while ago, fwiw.

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02-09-2015 , 04:54 AM

#172

JaxRwild

enthusiast

Join Date: Feb 2015 Posts: 80

Quote:

Originally Posted by rakemeplz

I'm dumb too. Did Ivey not do the same thing?

good point

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02-09-2015 , 06:06 AM

#173

bumpnrun

veteran

Join Date: Jul 2008 Posts: 2,889

Of course it is, and yappingyoda is right. Poker pros are almost always scumbafs. Random btn is also an idiot

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02-09-2015 , 10:38 AM

#174

MarcusMPG

adept

Join Date: Jul 2009 Posts: 1,065

makes me wonder if there really are any rich poker players. can someone please link me Phil Ivey's house? OR DOES HE LIVE ON THE RUN

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02-09-2015 , 11:05 AM

#175

insyder19

Carpal \'Tunnel

Join Date: Jun 2007 Posts: 6,167

Quote:

Originally Posted by rakemeplz

I'm dumb too. Did Ivey not do the same thing?

Most of the Pros borrowed the money (to pay with the next paycheck or wire it back), right? Which is the same thing as applying for a credit to buy a house for your family.

The difference is clearly that some people pay their debts back and some don't. The question is whether Lindgren knew he was close to busto and wanted to gamble or not. I know nothing about Ivey's wealth but would assume he is much more likely to pay 1 mil back than most pros due to his skill and marketing value.

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