Poker News

New Jersey Court Seizes Ivey’s WSOP Winnings

In a move that came out totally unexpected, the Borgata attorneys had a “writ of execution” to the director of WSOP Tournament, Jack Effel. In the writ, Borgata attorneys pleaded that “any assets due to Mr. Ivey from…Event #58 (and WSOP bracelet if he is the winner)” must be seized by federal agents in order to offset the prior pending case against Ivey. It was done on behalf of the New Jersey court.

While the tournament was on the go, a good run, entering the tour’s day 3 as the chip leader was made by Ivey. While matter worsened through the tour, Ivey finished at the 6th place and won the prize amount of a little above $124,000. Although the sum would have typically gone to Ivey when he finished the tour, to amazement, the funds had been frozen.

Not to overstate, but 124,410 was just a little deviation in the huge debt, it’s one of the major advancements made by Borgata when Ivey got a good run in the $50,000 Championship. That landed him the sum of $124,410, but unfortunately, Borgata was ready.

The lawyers of Borgata sent a statement to WSOP in which they mentioned that they were allowed to seize Nevada-based assets that belonged to Ivey. Also, it stated that the WSOP wasn’t obliged to reimburse the amount. The timing of the notice turned out amazingly luck, as Ivey was alleged that very day on 27th June.

With an intend to comply with this obligation as asked by the court of New Jersey, the sum was seized in check that was given to the U. S. Marshals Service of Caesars International. After doing the bit, Caesars was released from any other liability.

In 2012 Ivey won $10m from 2 casinos in Atlantic City, and Borgata was one of them. The other one was London Crockford. Here the accomplice leveraged a glitch in the card design to win over Punto Banco house.

This legal affair was observed by the officials at Borgata, who ultimately went on to file a case against Ivey. The case went to the court of Borgata, and Ivey was asked to make complete restitution to the victim. This judgment was made in 2016 and ever since Borgata is trying to collect on the judgment.

But Ivey still continues to rule the tournament and had been traveling across Europe to participate in the London series of Triton. He was even captured by Paparazzis participating in a number of high bet events, although he hasn’t yet seemed to gather any cash.

Edna Boykin

Edna Boykin started her career as a financial news writer. And, she was withal active in stock trading. From the commencement of her vocation, she is passionate about online poker games. As she likes to play poker and roulette, she knows the casino industry exhaustively. She recently joined Times of Casino as a news writer. She regularly contributes in-depth breaking stories and news updates of the casino industry.

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