Saturday August 20,2011 : Chino Rheem on probation for financial issues
The well-known international poker pro Chino Rheem saw much of his $1 million dollar win in the first Epic Poker League tournament disbursed to his creditors last week, and has additionally suffered the humiliation of a disciplinary hearing by the League over his financial affairs.
The hearing was held in the wake of complaints by a number of top poker pros concerned about the repayment of loans they had made Rheem.
Last Monday's hearing was followed by a press statement from the League Friday which advised:
"During the formation of the Epic Poker League, the Standards and Conduct Committee made a policy decision that any personal conduct that occurred prior to the League’s formation would not affect initial eligibility of a league member.
"The Committee, however, communicated to the League members that subsequent to the start of League play, the Committee would enforce discipline against any League member who violated the League policies, including the Players' Code of Conduct, or the law.
"As a result of ongoing personal financial obligations incurred prior to the League's formation but impacting the League during the Inaugural Epic Poker League Main Event, the Committee has voted to place David “Chino” Rheem on probation in order to effectively monitor the personal conduct of Mr. Rheem as he works to meet his personal financial obligations as required under the Players' Code of Conduct.
"Under the integrity and Honor principles of the Player's Code, meeting "financial responsibilities on time and honoring contractual agreements" is required to maintain eligibility.
"In reaching its decision, the Committee recognized that Mr. Rheem used best efforts and all of the proceeds he personally received from winning the Inaugural Epic Poker League Main Event to partially satisfy outstanding financial obligations.
"By order of the Committee, Mr. Rheem must continue to proactively repay his outstanding debts by, from this point forward, using any and all proceeds Mr. Rheem personally receives from personal poker winnings worldwide to satisfy all of his remaining financial obligations in an orderly fashion.
"In addition, Mr. Rheem must continue to report to the Committee regarding his compliance with the terms of his probation. The probation period will remain in effect until Mr. Rheem has satisfied his pre‐league formation financial obligations. Failure to do so or any subsequent violations of league policies or the law by Mr. Rheem will result in immediate suspension of Mr. Rheem from the League."