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Billionaire Businessman Implicated In Hollywood Poker Scandal

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By Dylan HowardSenior Executive Editor, Star magazine

One of Hollywood’s highest rollers, billionaire businessman Alec Gores, has been targeted in the mega millions crack down on an illegal and underground poker ring.

Gores, who is worth $1.6 billion and sits at number 287 on Forbes’ richest list, is one of more than a dozen high-profile Tinsel town people being sued in connection with clandestine high-stakes games at luxury venues such as the Four Seasons Hotel in Beverly Hills and the Viper Room on Sunset Boulevard.

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As Star magazine revealed in a world exclusive investigation, Spider-Man star Tobey Maguire is also facing a hefty lawsuit, alleging the debt from one gambler’s losing hand was paid off with embezzled investor funds from a Beverly Hills hedge fund.

In a lawsuit filed against Gores in the United States Bankruptcy Court, in Los Angeles, it’s claimed the private equity honcho won $445,400 from Brad Ruderman, a Ponzi mastermind who was jailed last year for 121-months after losing $25 million of investor money.

On five separate occasions, Gores won between $4,000 to $194,500 from Ruderman — all of which was illegally transferred by Ruderman from his clients’ investment accounts, the lawsuit claimed.

Read the lawsuit against Gores here

The businessman has been actively chasing entertainment business opportunities around Hollywood, teaming up with his brother last year in a failed attempt to buy Miramax from Disney, as well as bidding for the company that owns American Idol and Warner Music.

Star’s revelation also comes just days after Gores was outed as the mystery investor bidding for more than half of the remaining stores owned by Borders Group, the bookstore chain that has been running under bankruptcy protection for months.

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Gores has been actively chasing entertainment businesses around Hollywood, teaming up with his brother last in a failed attempt to buy Miramax from Disney, as well as bidding for the company that owns American Idol and Warner Music.

Read more of Star’s world exclusive investigation into the intriguing poker ring and how some of the biggest names in Hollywood gambled their fortune in the magazine, on newsstands now.

 

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