Jungleman And Other Phil Ivey Backers Seek Court Action to Reclaim Their Winnings

Tom - Tuesday, September 17, 2019, Written by- Tuesday, September 17, 2019, High stakes reports

Dan Jungleman Cates and Illya Trincher, who backed Phil Ivey in this years World Series of Poker have taken legal action to claim their share of Iveys winnings. Ivey has been embroiled in legal action over the last couple of years with New Jerseys Borgata Hotel Casino & Spa regarding the edge sorting scandal, and found his WSOP winnings confiscated before he could collect.

By: Mark Patrickson

The circumstances surrounding Ivey’s legal troubles have been well documented, but it’s unlikely that anybody thought it would lead to this. Cates and Trincher stumped up all of the $50,000 buy-in for the Poker Players Championship in a 50/50 deal for any profit once the stake was 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.

Through the legal firm Chesnoff and Schonfeld, an objection has been filed stating that Cates and Trincher 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 saddest part of this story is that it might be a long time before we see Phil Ivey playing poker tournaments in the US again. It also begs the question of his true wealth. Maybe the rumoured tens of millions in the bank is way off reality and to pay off the $10.1 million he’s going to have to win plenty more at the tables.