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Did Phil Ivey Really Borrow $10 Million From Full Tilt Poker?

Written by:
C Costigan
Published on:
Jul/30/2011
Phil Ivey Full Tilt Poker

In a shocking revelation, Subject Poker has revealed that Phil Ivey borrowed an amazing $10 million from Full Tilt Poker in recent years.

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Ivey, a Team Full Tilt Poker pro, filed a lawsuit against the company following the April 15 indictment of its two co-founders in the United States on money laundering and bank fraud charges.  Ivey essentially wanted out of his contract with the deadbeat poker company that currently owes players millions of dollars.  He later dropped his suit.

From SubjectPoker.com:

From June 2009 until April 2011, Phil Ivey borrowed money from Full Tilt Poker at least eighteen times, totalling at least $10,715,000, repaid loaned money to the poker site at least five times, totalling at least $5 million, and was paid at least $1.2 million by the site in various marketing payments and perks.

SubjectPoker.com also claims that fellow poker pro David Benyamine earned at least $800,000 from the poker site in salary, wages, and marketing payments and made at least $750,000 in loan payments to FTP.

SubjectPoker.com was able to access both players Full Tilt Poker account history through the company’s internal systems.

Phil Ivey’s net worth is believed to be $100 million

- Chris Costigan, Gambling911.com Publisher

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