Toby Maguire Settles in Illegal High-Stakes Poker Lawsuit

November 30, 2011

Earlier this year, Hollywood A-lister Toby Maguire was one of 22 people who was sued for winning cash while playing illegal poker games associated with convicted Ponzi Scheme con artist and Beverly Hills hedge fund manager Brad Ruderman, the CEO of Ruderman Capital Partners. The parties filed papers in bankruptcy court Wednesday that reveal Maguire has agreed to pay more than $80K in order to be dropped from the litigation that is ongoing in an attempt to collect money for those victimized by the fraudulent scheme.

Maguire was one of many Hollywood participators in the high-stakes poker games at the Beverly Hills hotel with Ruderman. Ruderman has since been convicted of investment and wire fraud and is serving out his sentence in a Texas prison. Meanwhile, a trustee of the company is trying to collect the $25 million that had been allegedly lost in the poker games.

Other celebrities named in the suit include Gabe Kaplan, Nick Cassavetes (director of The Notebook), and Cody Leibel (record label owner). Ben Affleck and Leonardo DiCaprio were tied to $50K buy-in games, but were not targeted by the lawsuit.

According to reports, Maguire won at least $300K playing poker, but according to the judge, the poker winnings were considered ill-gotten gains from the unknowing clients of Ruderman as the games were not licensed.

The agreement was signed by Maguire on November 18th and is subject to approval by the judge on December 21st.


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