Jungleman and other backers of Phil Ivey sue Ivey to reclaim his winnings

Dan Jungleman Cates and Illya Trincher, who both backed Phil Ivey during 2019 World Series of Poker have now officially taken legal action to claim their share of Iveys winnings. It all happened after Ivey has been embroiled in legal action over the last couple of years with New Jerseys Borgata Hotel Casino & Spa due to edge sorting scandal with a friend/partner of his. Now, Ivey winnins have been confiscated before he could collect them, and the backers are still coming for them.

Cates and Trincher sponsored the $50,000 buy-in for the Poker Players Championship in a 50/50 deal for any profit plus the stake paid back. As Ivey finished in eighth place for a $124,410 payday, Cates and Trincher argue that they are entitled to $87,205 - the stake plus half of Ivey’s $74,410 profit.

A legal firm has been hired, called Chesnoff and Schonfeld, and now Cates and Trincher are claiming that they are “the rightful and legal owners of the $87,205”. This is far from legally straightforward though, as Borgata filed the motion to take Ivey’s winnings back in February and it may simply be a case of first come first served for any debt collection.

The financial situation of Phil Ivey also comes to mind, if one of the poker worlds most popular and best winnings players is getting staked to a $50,000 tournament.

From Hero to Zero: The Phil Ivey Story

Appreciate what you got!

ivey balled out too hard lol

Probably went all in on those lawsuits

As Joey said in twitter, this shit should be a movie.

Ivey is mentioned a lot but he was nothing but a front posing as the degen he is to ease casino suspicions, the mastermind behind all of this is the woman he was with

lol ivey

I'm surprised he lasted this long though, with all the sportsbetting and other -EV casino games he was doing

he shoulda just sticked to poker, but a degen is gonna degen I guess

i was dumb enough to even think these old school poker players could retire rich lol

On September 22 2019 04:20 whammbot wrote: i was dumb enough to even think these old school poker players could retire rich lol

i think most do though

Did the woman take a cut an run off? Ivey should be flat - lawyer fees from the whole fiasco.

How is what Ivey is doing different than people finding tax loopholes?

I mean unethical sure, but why is there a lawsuit against someone who found a flaw and exploit?