Jail Doesn’t Silence Shamed Poker Businessman Chad Elie
Posted on: April 25, 2013, 05:21h.
Last updated on: April 24, 2013, 08:22h.
Jailed following U.S. federal enforcement actions on Black Friday, Chad Elie has now appeared back on the news scene after filing litigation proceedings in a Nevada court against well-known lawyer Jeff Ifrah, who represented him during Elie’s trial.
Last year, Elie pled guilty to conspiring to commit bank fraud and operating an illegal gambling business, and was sentenced to a five-month stretch in a California jail as a result. The perpetrator reportedly now claims professional malpractice on Ifrah’s part, and says he was mislead by the lawyer on the legalities of processing poker, claiming that Ifrah simply wanted to continue pocketing high commissions.
Allegations Against Ifrah
Elie claims that Ifrah was paid $4 million, including commission payments from his payments processing company amounting to $1 million. He also claims that Ifrah was pocketing $100,000 each month from the 21 Debit company in commissions for sealing deals with poker transaction processing banks.
Backing up his argument of professional malpractice, Elie alleges that Ifrah concealed critical documentation and purposefully gave him incorrect advice about poker processing in order to continue to profit from Full Tilt Poker and Pokerstars, both companies of Elie’s. He states that his lawyer failed to inform him that third-party processing payments for poker companies was illegal.
Failure to Disclose
Elie also claims that Ifrah testified to federal prosecutors against Elie and others involved in Black Friday in order to avoid indictment against himself in the proceedings, adding that the lawyer failed to disclose to government lawyers that he was receiving the commissions from Elie’s companies.
When questioned on the matter by Forbes magazine, Ifrah decided not to comment, stating that he had not yet been able to study the complaint properly.
Whether or not Elie’s claims have any grounds or element of truth to them, it does appear that Black Friday will not go quietly into the pages of online poker history, and yet more reputations continued to be sullied by new claims revolving around the story. It may, in fact, be safe to place a bet on the fact that there are more stories of shady behavior yet to come to light.
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