World Ponzi Tour

Lyle Berman takes a bath with Bernie Madoff fraud

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.

7 Comments to “World Ponzi Tour ”

  1. Kevin Mathers

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

  2. DanM

    Ah, yes, here’s the LACO chart:

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

  3. 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.

  4. 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?

  5. 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.

  6. 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.

  7. Chris C

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