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World Ponzi Tour

Lyle Berman takes a bath with Bernie Madoff fraud

Comments (7)
by , Feb 9, 2009 | 2:28 pm

Tough times for Lyle Berman … the World Poker Tour and PokerTek honcho apparently lost a bunch of money to the Russ Hamilton of Wall Street.


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  • Kevin Mathers

    You could include LACO’s 6 month chart as well.

  • http://pokerati.com/about-us/#danm DanM

    Ah, yes, here’s the LACO chart:

    I’m not sure I fully understand the difference between WPTE and LACO, btw.

  • Kevin Mathers

    Berman owns over 4m shares in LACO, while he only has 2m shares of WPTE. Also, 7.50 to 2.50 is more impressive a fall than $1.00 to 0.40.

  • http://pokerati.com/about-us/#danm DanM

    Right, I can see that, but in terms of what the companies do. Doesn’t Lakes have something to do with the production or distribution of the WPT?

  • Kevin Mathers

    They used to, before they disposed of all their shares in WPTE back in November. But I guess you’re point is more towards poker than the casino biz, my bad.

  • http://pokerati.com/about-us/#danm DanM

    Honestly, I don’t know that I have a point. :) I just see a dude struggling, economy or otherwise, and I couldn’t help but point it out.

  • Chris C

    Madoff had his hand in everything, even poker. Such a shame for everyone involved.