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PokerGO Co-owner Cary Katz Sues Own Company for $20 Million

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Posted on Monday, May 07, 2018 by "T".
Cary Steven Katz, an American billionaire and high-stakes poker player who has almost $14 million in live tournament earnings, has slapped a $20 million lawsuit against his own company, in a move to obviously avoid paying a debt that he owes, and in the process he's putting at risk the future of PokerGO, a subscription TV channel. Two weeks ago, on April 20, the 48-year-old Las Vegas tycoon filed[...]   Read more » PokerGO Co-owner Cary Katz Sues Own Company for $20 Million

  7-May-18, 10:58   #1
PokerGO Co-owner Cary Katz Sues Own Company for $20 Million 0 
Gerimantas 
Joined: Jan '17
Location: Lithuania
Age: 60 (M)
Posts: 1567
Yes this is a very strange situation where rhe owner of the company is making a situation where company is having to give money back tonhim in loan. And to go and put situation to court is very bad for company image

     
  7-May-18, 11:49   #2
  0 
StheP 

Joined: Oct '14
Location: Serbia
Age: 28 (M)
Posts: 4257
WTF did I just read LOL.... I hope poker central is going down, so I can watch WSOP all for free Big Smile

     
  7-May-18, 16:44   #3
  0 
CALICUL 
Joined: Jan '14
Location: Romania
Age: 39 (M)
Posts: 2965
To understand that: This billionaire Cary Katz want to bankrupt this business in order not to pay 20 millions dollars in taxes. Perhaps he is very upset about his employees from managing of this business ( and in this way to make them to leave the company ) or he does not want to pay that money to the American system. In this case those people who use PokerGO service will suffer if it closes.

     
  7-May-18, 18:55   #4
  0 
Mober 
Joined: Mar '09
Location: Greece
Age: 41 (F)
Posts: 13103
And when you think you have read, too many weird things, news etc,
this comes out Smile
Some people, will do anything to save themselves.
The funny thing is, that the article saying he is a billionaire....

     
  7-May-18, 20:22   #5
  0 
pajalnick 

Joined: Mar '11
Location: Russian Federation
Age: 46 (M)
Posts: 5349
billionaire Cary Katz wants to remain a billionaire .... and his lawyers apparently found an option whereby he can avoid losing money ... of course the laws are basically the right laws but clever lawyers find loopholes in them and use it ..... I'm absolutely is not surprised by this news

     
  7-May-18, 23:32   #6
  0 
bowie1984 

Joined: Apr '12
Location: Hungary
Age: 34 (M)
Posts: 6070
Could not care less. These billionaires either really make themselves look like complete nuts like the Koch Brothers or just downright have messiah complex like that kooky alien looking facebook founder. We need more Paul Allen, Warren Buffet type richmen.

     
  8-May-18, 05:21   #7
  0 
IceQueenAce 
Joined: Feb '13
Location: United Kingdom
Age: 42 (F)
Posts: 2356
Something tells me this isn't about the money (it is peanuts to him) and more about something yet to come to light.

     
  8-May-18, 07:35   #8
  0 
doubletop777 
Joined: Mar '11
Location: United Kingdom
Age: 49 (M)
Posts: 7167
This really is quite bizarre, someone who sues themself!! Reading this story, it is quite clear that nothing is clear!! I expect we have not heard the full story yet and theer are many more twists to this

     
  8-May-18, 16:45   #9
  0 
CALICUL 
Joined: Jan '14
Location: Romania
Age: 39 (M)
Posts: 2965
It is not bizarre because Americans have all kinds of laws and this billionaire Cary Katz he can escape without paying that money or will pay a much smaller amount. If Cary Katz put his company in bankruptcy he has a plan of course and he is a smart man. He knows better what he will do.

     
  9-May-18, 02:21   #10
  0 
Tony_MON7ANA 

Joined: Mar '14
Location: Japan
Age: 44 (M)
Posts: 8577
I don't think US$20 million is a lot of money to Cary Steven Katz. He was CEO of College Loan Corporation, the seventh largest student loan company in the United States. He must have made a lot of money.

     
  9-May-18, 15:46   #11
  0 
bowie1984 

Joined: Apr '12
Location: Hungary
Age: 34 (M)
Posts: 6070
Posted by IceQueenAce:
Something tells me this isn't about the money (it is peanuts to him) and more about something yet to come to light.

It would be very funny if it turns out he trying to exploit some tax-loophole nobody knows about yet.

     
  9-May-18, 16:46   #12
  0 
CALICUL 
Joined: Jan '14
Location: Romania
Age: 39 (M)
Posts: 2965
As long as Cary Steven Katz tries to bankrupt the company for not to pay taxes it's clear he does not want that. It does not matter how rich it is. Most rich people want more and more money. Sometimes these people are right about the taxes. The governors want too much money which have been won with your mind. That means modern slavery... Sad

     
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