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Bernard Madoff Scammed Professional Poker Player

Bernard Madoff
Feb 10 2009 - 10:55pm

A professional poker player who is in the Poker Hall of Fame is among the thousands of investors who were scammed out of money by con man financial manager Bernard Madoff.

According to media reports, poker pro Lyle Berman, who was elected to the Poker Hall of Fame in 2002, is one of thousands of names on an official list of clients scammed by Madoff.

Madoff, 70, now under house arrest at his apartment in New York City, New York, USA, is accused of bilking customers out of more than $50 billion via a complex ponzi scheme that defrauded investors for years before it was discovered.

Berman, 67, originally from Minneapolis, Minnesota, USA, has won three World Series of Poker (WSOP) championship gold bracelets.

He has also won almost $2 million playing tournament poker in his career, according to tournament records.

His biggest paydays were earning $444,000 by finishing fifth in a $50,000 buy-in H.O.R.S.E. tournament at the 2008 WSOP and earning $345,000 by finishing fifth in a World Poker Tour (WSP) event in 2005.

Berman is also a casino entrepreneur, having co-founded casino companies Grand Casinos Inc. and Lakes Entertainment Inc.

He is also a former co-owner of the Stratosphere, a Las Vegas casino.

No information was immediately available on exactly how much money Madoff scammed from Berman.

Thomas Somach, www.pokerhelper.com

 

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