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Stockbroker sentenced to play poker

Tags: jail, poker, Samuel McMaster JR, sentence, stockbroker.
Posted on 11 August 2010 by "T".

Samuel McMaster Jr, a stockbroker, has swindled his customers on about $500,000 and for that he was taken to court. The court came to the conclusion that McMaster was guilty to 26 charges and therefore risked to face 12 years behind bars. But instead of sending him to jail straight away, the people who he owed money decided to give him a unique chance - to play poker and try to win back the money.

Samuel McMaster Jr's sentence has now been postponed 6 months so he have the chance to win back some of the money. The deal is that he needs to pay back at least $7,500 per month during this time. But if he fails to pay for 2 months, he will be sent straight to jail. According to different websites, Samuel McMaster has won about $30k in poker tournaments since 2003. In other words, much better results than that are now needed if he wants to avoid going to jail for a very long time.

 


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31 comments on "Stockbroker sentenced to play poker"

Displaying only the 25 latest comments. To view all comments, please visit the forum thread:
» Stockbroker sentenced to play poker

 B1gfoot12/08/2010 17:36:54 GMT
" the people who he owed money decided to give him a unique chance"
WTF, this judge should be sacked, not only did he give out a stupid get out of jail card but he let the "people" undermine him.
Whats next letting pedos off providing they get wed when she turns 18.
Justice system = Joke.


 BoyElectric12/08/2010 21:13:10 GMT
It sounds like he got a lucky break, but they forgot to mention in the article that he can only play $0.01/0.02 limits . . . at Circus Poker.
 123loweman14/08/2010 14:49:27 GMT
what a great deal if he knows he cant make it he has 2 months to to flee the country
 oliver08229814/08/2010 15:17:31 GMT
Posted by dozn01:
well all he has to do to get him started is join bankrollmob for his free bankroll Smile

with this type of situytion; he has got to be a very tight player... Tongue
 spOOn196515/08/2010 10:30:35 GMT
Swindling for $500.000, Pay back $45.000 (from poker winnings) . Nice Deal !!!
-Only in America- ROFL......What a system.
 Yuki55515/08/2010 13:41:05 GMT
Posted by spOOn1965:
Swindling for $500.000, Pay back $45.000 (from poker winnings) . Nice Deal !!!
-Only in America- ROFL......What a system.


So true Big Smile
 DaMessiah66615/08/2010 18:11:30 GMT
I cannot believe this news ... It's seems extracted from "Urban Tales" or similar tv magazines ... I think it's not a true story
 SHMAX99916/08/2010 02:54:47 GMT
No 666, this appears to be a real story. Google it.
 DaMessiah66616/08/2010 06:49:04 GMT
Posted by SHMAX999:
No 666, this appears to be a real story. Google it.

Yes 999, i've already seen it's a "real story" but i want to believe that's not real. If i have to trust in this kind of judgements ... my god! My last card is thinking "This is America!"
 atownshend16/08/2010 08:02:56 GMT
Yeah, right. How much has he lost in this time. He is a loser, he should have gone straight to goal.

------------
I mean straight to gaol.
 svedin9122/08/2010 02:17:06 GMT
LOL Big Smile
 Im2good4u22/08/2010 05:06:59 GMT
Damn, that's gonna be hard he might end up with more debts trying to win. ive heard a similar story, a drunk guy used a credit card from his company to play. his money there was just 2000EUR. played some casino, lost and deposited some 20000EUR more and lost it all in 30minutes.
 Dachaaa22/08/2010 05:25:26 GMT
Duuuude!!!

Playing under preasure was never good...

I think that the guy can win only if he is a maverick,LOL. Big Smile
 psycokiller22/08/2010 08:37:04 GMT
Well this gives this guy a remote chance of writing his own chance to avoid prison. If he succeds, than kudos to him to preform under pressure.
 AbuDhabi23/08/2010 12:44:44 GMT
he will fail and people will be saying that poker is gamble whis destroys people's life.

No good deal for poker...
 thekyd23/08/2010 13:43:23 GMT
i think is not true
 triffu30/08/2010 11:16:38 GMT
Smile) 30k in 6 years!!!this guy is going to jail no doubt
 xxxYUMIxxx04/08/2011 15:40:33 GMT
WTF...i really have doubts in that judge!
 Ronsaki04/08/2011 16:05:12 GMT
Well I would prefer playing poker than being in jail everyday. SO from his POV it is a good deal, thats for sure
 holtland04/08/2011 17:51:23 GMT
Posted by thekyd:
i think is not true

Me too... I am always a bit weary of any news story like this that menchen April 1st in it:

By Aaron Stevens at April 15, 2011 | 6:12 pm | Print

By Aaron Stevens

Samuel McMaster Jr. was sentenced to twelve years in prison on April 1 for bilking $450,000 dollars from 23 investors in New Mexico. However, McMaster did get a chance to repay the investors at the casino tables. Why? Samuel McMaster is a pro poker player. In one of the stranger incidents in New Mexico judicial history, Judge Ross Sanchez allowed the pro gambler to attempt to pay back his investors by playing in poker tournaments.


Same story same name ......but dated 1year later Confused
http://www.sfprepgriffin.org/2011/04/15/new-mexican-con...
 TheMachineQC04/08/2011 19:08:54 GMT
America, the land of the free! Big Smile

Kind of ridiculous but still it's less permissive then the crap justice system we have in Canada! I hope he runs good tough lol!!
 Arithmajik04/08/2011 19:41:57 GMT
Ha ha, best sentence ever. I should try to find out how he managed to eke out this offer? I wonder if it's more of a publicity stunt?

I definitely hope I can an establish a good enough poker record that I can dodge jail in the future with only poker skills. Better yet, maybe I can get a government grant to play poker . . .
 retribution05/08/2011 18:01:51 GMT
I'm totally going to say that this is not real either. Was this in a news paper, or some other quasi -reputable source other than the interwebz? Serious, 99% of the stuff you hear on the 'net is just heresay or outright lies. Just look at the whole Full Tilt situation as an example of this.

If, for some god awful reason, it's true it just goes to show just how fucked up the justice system truly is.
 TUNGUSKANO06/08/2011 13:13:44 GMT
That is crazy man. The sentence is great even to me. I am a peacemaker.
The jury in this have great references and the lawyers has no intelligence at all.
If all this thind will be daily I will stuck my money into others pokets. Aww crap! Aww crap! Aww crap!
 Ronsaki06/08/2011 14:28:42 GMT
THe only better way to payout your sentence rather than by sitting in jail would be playing pro football for me. Right after that comes playing poker. Ah man, I think I am even kinda jealous O_O

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