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Poker Pros Ivey, Lindgren, Benyamine and Flack Owe Full Tilt Millions

$18 Million in Total Owed to Site by Pros, May Derail Tapie Takeover of Site

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Phil IveyA group of poker players owe Full Tilt Poker about $18 million collectively, a person familiar with the situation told Card Player.

Earlier on Thursday, PokerStrategy.com reported that Behnam Dayanim, an attorney for the French investment group seeking to purchase the company, said that money owed from Phil Ivey, Layne Flack, David Benyamine, Erick Lindgren, Barry Greenstein, Mike Matusow and others could create “a serious obstacle to completion of the deal.”

Dayanim added: “This isn’t the only issue with the takeover, and the deal won’t end on any one issue — but this is a substantial item.”

According to Card Player’s source, Ivey and Lindgren both owe $4 million to the site, while Benyamine and Flack owe $2 million apiece. Matusow and Greenstein owe less.

Both Benyamine and Flack have been in debt to the site since 2007, according to the source.

Card Player was told that the debts amounting to about $18 million are on the books, and that Groupe Bernard Tapie has known about it for months.

The source said that legal action from Groupe Bernard Tapie could be effective, and that the players could be put on payment plans if Full Tilt’s sale is finalized.

Groupe Bernard Tapie is seeking to buy Full Tilt for $80 million as part of its agreement with the Department of Justice.

Retrieving money from some of the players will be “exceedingly difficult,” the source said.

The money lent to players was in the form of tournament buy-ins, and most likely direct transfers to their Full Tilt accounts for cash game play, according to the source.

Card Player reached out to Lindgren and Matusow, but was unsuccessful. Greenstein posted a response on Two Plus Two.

Barry GreensteinIn his response, Greenstein admitted to borrowing $400,000 to “play on Full Tilt a few years ago, before PokerStars had high stakes games.” Greenstein is a PokerStars sponsored pro.

Greenstein said he was contacted by Groupe Bernard Tapie about repayment, but he has concerns about if the money would go toward paying back U.S. players who are owed a combined $150 million.

Groupe Bernard Tapie’s deal with the DOJ would reportedly facilitate paying back non-U.S. players, but would leave the alleged American victims to deal with the government for compensation.

Card Player contacted the DOJ on Wednesday, but it declined to expound on its statement in late September. The DOJ called victim compensation “possible.”

 
 
 
 

Comments

Sean1
almost 6 years ago

Barry really is "the Robin Hood of poker" after all! He is "concerned" about the US players getting their money? Bullshit!!! pay your debt!

 
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sublibor1
almost 6 years ago

I guess leaks effect even the winning-est tournament players pretty sick to win the kind of money this group has and then give it to the craps or BJ tables. Obviously the reason. Unless you borrow 2M loose it to your buddy online then have a party> Gamblers are the best hustlers.......

 
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bparmalee
almost 6 years ago

I think Lederer and Ferguson should be handled before they try to go around collecting 400k debts from people. Why should Barry pay a dime when the others more involved in scam havent refunded anyone a dime? They need to focus their energy on the real money. When they get that back (not that I think they will) then they can ask Barry for his 400k of 440 million dollar Ponzi scheme.

 
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Thomas2
almost 6 years ago

Jeez, Are all the top guys deadbeats? It's like a world full of Chino Rheems!

 
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Fantastique
almost 6 years ago

Mr. Greenstein donates a sizable amount of his winnings to charities, most of which are children's charities. He's been doing it for years. In addition, he's a genuinely nice guy. I know because I've met him and I'm a damn good read of people.

In other words, Sean I believe he truly does want to see that the money he owes goes to US Players (where it rightfully should go) and not in the new owner's wallets.

As far as I know, Barry Greenstein is the only one to comment publicly about what he owes. I give him credit for that too.

It's just my suggestion, Sean. But you might want to cut him some slack and hold your fire until the situation reveals itself more clearly.

 
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raydavis77
almost 6 years ago

LOL, unreal what this site did, everyone assosiated with it should be locked up, SERIOUSLY!!!!!

 
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samcan
almost 6 years ago

Kid Poker made a valid point...what about Siedel?? Does he owe??? He's been playing tourneys since Black Friday and nobodys whispered his name when speaking of No Home Jerome...???

 
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cwlove12
almost 6 years ago

It's a sad state of affairs when people expect credit and congratulations simply for being less dishonest than some all the other scum out there. Honesty is absolute - you either have integrity or you don't, it's not measurable. You borrow money, you pay it back. You don't have a right to complain about it!

 
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Another Winner
almost 6 years ago

I just want to understand this. A company that hasn't bought another company is looking to get some debts repaid owed to the other company? Wow, that's not gonna happen for too many reasons to list. And the fact that they listed the names makes it less likely to be repaid, and less likely that this sale is going to go through.

If you have money on tilt, it's gone, is there really any kid out there that still believes that this deal is going to be put together for apparently no other reason but to return your money? Think about it -- that is dumb.

Just Sayin.

 
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raydavis77
almost 6 years ago

Why point out certain owner's at fulltilt when other one's get pass's?? their all guilty and their all laughing in are face while they ante up 250k of are money to play turnies oversea's.

 
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1Acehigh
almost 6 years ago

he makes a good point in not paying until the deal is worked out for the players too be paid back, i'm sure phil, edog and others were notified just like bg, and i'm sure they feel the same as bg. what if they paid gbt, and the deal falls through, what then. i'm sure they will pay. i will say this, this shyt keeps getting deeper and deeper by the minute, this all goes back to who was running the company ftp, their the ones that fckk us players, not the players (ft players). howard, chris ferguson, and ray bitar their the scum that screwed us players. one day the true story will come out, they fckk everybody, including their own players, cause of their greed just too line their pockets. those 3 will never ever show their faces @ a poker table.

 
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dare2
almost 6 years ago

I'm shocked ! Shocked I tell you ! Gamblers ripping off other gamblers? Just because ESPN can make these low life, pond scum sucking, bottom feeders look legit doesn't mean they are or ever were. When stupid money is involved everyone sinks to the lowest common denominator.Greed. As much as we like to romanticize these people nobody, not even "Robin Hood" is exempt. Greed makes strange bedfellows and when all the facts are known my guess is NOBODY will walk away with clean hands.And Full Tilt players will walk away with empty pockets.

 
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texasroadgambler
almost 6 years ago

dare2:

Yes, the media has been the principal enabler of this scam as well as other internet poker scams.

The irony of that is that the media was exploited initially during the early history of the game so that a small group of top players could expand their opportunity to win big money in the cash games. It was a very successful strategy by a few great white sharks. The WSOP and the media attention was the event that enabled everything that you see today.

Then came the internet and the pool of suckers expanded exponentially and continues to do so despite the frequent revelation of internet scams.

Anyone who plays poker on the internet has to recognize that there are schemers working even as they read this to develop new unlawful techniques to separate you from your money.

So, if you're going to be a sucker, be a quiet sucker when they scam you.

 
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tdda32
almost 6 years ago

I am convinced that every player will get there money in 2012.

I have a few bucks on it and I did not give up hope.

 
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mikeyb111
almost 6 years ago

I personally have cashed out numerous FT accounts at 80 cents on the dollar with the realization that Full Tilt will make good on ALL debts. I figure where else can I make an easy 20%?

 
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texasroadgambler
almost 6 years ago

Well maybe in some other fairy tale?

 
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sublibor1
almost 6 years ago

I guess leaks effect even the winning-est tournament players pretty sick to win the kind of money this group has and then give it to the craps or BJ tables. Obviously the reason. Unless you borrow 2M loose it to your buddy online then have a party> Gamblers are the best hustlers.......

 
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TheMaj
almost 6 years ago

The books must be so cooked at FTP that one hardly knows what to make of this news. Paying these players (Ivey Lindgren etc..) tournament entry fees seems more like a promotional expense than a loan to me. It's interesting that Tom Dwan's name isn't mentioned here. Does anyone now think that the now defunct Clooney Gowen case should have been a huge red flag about what was really happening at FTP?

 
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texasroadgambler
almost 6 years ago

Here's an analogy for all of you who think that you are going to receive any funds from FTP:

Take a look at the pictures of the "Highway of Death" leading out of Kuwait to Bagdad at the end of Operation Desert Storm.

Yep, that's you somewhere among the burnt out hulks along the "Highway of Death".

BTW, if you are a stuck player, I have some prime ocean front property in Arizona for sale at a bargain price.

 
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xIcemanxx
almost 6 years ago

mouth's house is in his mom's name. what does that tell you?

 
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clunker
almost 6 years ago

How do you run up 2 to 4 million in entry fees that would be considered promotional fees. The group trying to buy FTP is crying about these players owing money is headed by a convicted felon if I remember correctly so they could never get any kind of lic. in US anyway. Which would lead me to believe that US players would have somewhere less then a zero % chance of getting money they are owed from FTP.

 
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Arturo_Fuente
almost 6 years ago

I was one of very few FTP players defending them after Black Friday. I was one of very few readers who accused P. Ivey of being a scumm after he filed his lawsuit against FTP. And now I can say following. FTP is DONE and GONE. Unfortunately, our money will not be recovered. Big Las Vegas will take over online poker. Jobs will be created in US, profit will stay in a country, taxes will be paid and WE ALL are not going to be afraid to make our deposits using credit cards. Good luck all at the tables.

The scumm will be the scumm. Ivey will be the same shyt as he used to be. I love a game of poker NOT because I was brainwashed by ESPN promotions of Lederer, Fergusson, Helmuth, Ivey and others

 
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