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Poker pro Varkonyi sues hedge fund for investment losses
Posted 3/30/11 : The business news publication Forbes reports that former World Series of Poker champion Robert Varkonyi and his wife Olga have launched litigation against Chetan Kapur and his hedge fund firm, ThinkStrategy Capital Management, seeking the return of a $1.4 million investment.
The suit alleges that the fund had been invested in other hedge funds managed by Arthur Nadel, an enterprise which turned out to be a $168 million Ponzi scheme.
Varkonyi's legal claim runs to 42 pages and was filed recently in a New York State court, charging that his $1.4 million investment will likely be 'decimated' by the improper liquidation of the hedge fund that began in November.
Varkonyi and his wife claim they are “entitled to a return of their investments.”
Forbes observes that Varkonyi, who used to work for Goldman Sachs, exemplifies the growing connection between Wall Street and poker, but that sometimes navigating successfully between the poker and investing worlds is not easy.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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