Spider Man actor Tobey Maguire has been pulled into bankruptcy proceedings for the owner of an online gaming website.
Brad Ruderman, who is in prison for a Ponzi scheme, has filed a lawsuit against Tobey Maguire in order to recoup $300,000 lost to the actor in Texas Hold ‘em poker.
Ruderman, along with a bankruptcy attorney, filed for Chapter 7 protection after the hedge fund manager was convicted for an illegal Ponzi scheme. His bankruptcy trustee has attempted to obtain the winnings of Tobey Maguire and poker player Molly Bloom to go towards Ruderman’s debts. Because the poker games were illegal, his trustee has attempted to sue for their earnings; they are considered ill-gotten gains.
According to TMZ, Maguire produced three checks totaling a little over $170,000, and refuses to pay any more towards Ruderman’s Chapter 7 bankruptcy. The trustee is expected to go after almost $4 million from other players who participated in the poker games.
When a bankruptcy lawyer files Chapter 7 for a client, they will emerge from bankruptcy quicker than other structures. That is possible because a person liquidates all their assets, which means all properties and assets are converted into cash. For Ruderman, this may be the best type of bankruptcy protection since he will be serving 10 years in prison.
Anyone who finds themselves underwater financially can consult a bankruptcy attorney to determine which structure works best for them. There are different ways to eliminate debt depending on the individual’s needs.
