It appears that Sorel Mizzi runs one of the app clubs that have became popular, and Cord Garcia became an agent for him. Sorel extended credit to Cord, Cord lost, and was unable to pay back Sorel.
It appears that Sorel Mizzi runs one of the app clubs that have became popular, and Cord Garcia became an agent for him. Sorel extended credit to Cord, Cord lost, and was unable to pay back Sorel.
Funny, because Cord was on the other side of this -- someone allegedly ripped Cord off for $600k earlier this year, and it was outed by the uninvolved Dan Fleyshman: https://pokerfraudalert.com/forum/sh...os-Liakounakos
The outing actually helped Cord, as supposedly he got paid.
I met Cord 2 years ago at a WSOP $1500 NL event. He was a friendly guy, and had an aggressive style which racked up a lot of chips quickly. Unfortunately for him, he lost most of it when he took a few bad beats in big pots. I probably looked like a fish because I was missing every flop and folding every time there was aggression (against everyone, not just him). Strangely enough, when the table broke, I ran hot as soon as I got moved, and ended up 33rd out of like 1300. Anyway, he tweeted to me after the event that it was nice playing with me or something to that order, which I thought was cool of him. He didn't seem at all like a scammer or anything like that. I did kinda see a potential degenerate side to him, though (as is often the case with good, young poker pros), so it's not really surprising that he could have gotten in this spot.
I will say that Sorel Mizzi has his own bad history from various incidents over time, though I haven't heard much recently. He claims to have cleaned up his life in recent years, but I still don't trust the guy.
However, it's very possible that Sorel is telling the truth here, especially because he provided evidence.
If I had to guess, Cord Garcia played, thinking he'd have a huge edge and was unlikely to lose, however he lost, and didn't have an immediate way to pay back.....Quote:
Originally Posted by Dan Druff
I think this debt will eventually be paid back as it doesn't seem Cord is dodging Sorel fully at this point.
It is pretty amazing that Cord supposedly got paid back $600k in late May from that Fillipos guy, and now he's so broke that he had to stiff Sorel out of $27k. Ouch.
My favorite part of that text exchange was his "dead grandma" story, which he bafflingly tempered by noting, "I wasn't that close with that side of the family, but my sister was."
What???
So if you weren't at all close to your grandma or that side of the family, why is that an excuse for not being able to handle paying your debts? What does his sister have to do with any of this? If the story was true, he should have simply said, "My grandma died. I'm dealing with it right now. Here's a link to her obituary in case you're wondering...", and that would have likely bought a little time.
If I had to guess, I'd say there's a very good chance Cord was playing above his roll, variance got him, and now he's in a world of hurt. Also, it's curious that he can't find any backers. Is it possible that he's already burned those bridges by stiffing them, too?
Remember, when people are outed for stiffing/scamming, it's usually not the first time they've done it.
First time I saw someone with the name Cord.
What are the economics of someone running a game/club like this? Does he rake? Does he charge for entry? Is he the banker?
I don't know shit about how these things work.
The "owner" of the club (in this case, Mizzi) is kind of equivalent to a poker network, and the "agent" is equivalent to a poker skin. That's the best way to think of it.Quote:
Originally Posted by Crowe Diddly
Agents do all the marketing and find players. They handle buyins and cashouts.
Some club owners require the agent to ship the money for buyins up front, others will let the agents do it on credit. Others will decide based upon the perceived trustworthiness of the agent.
The owner takes the rake, and all of the players of all agents play together. The agent gets compensated with a piece of the rake that his players generate.
As I've mentioned before on radio, this entire model can break down in various ways. First, you can get screwed if either the owner OR agent is shady. Would you trust Sorel Mizzi to pay you'? Perhaps he's changed, but I sure as hell wouldn't. Even if the owner is good, the agent can screw you. He's ultimately responsible for paying the players, and if he screws you, then tough luck. Additionally, many times both the owner and agent have good intentions, but they get screwed by players who are playing on credit, and the losing players don't end up paying. Someone has to "eat it" when this happens, and often the owner/agent doesn't want to take responsibility.
They need to settle up every so often, to where the owner ships the agent $ if his players won (to be distributed), and the agent ships the owner $ if his players on credit lost.
In this case, if Mizzi's screen shots are legit, Cord seems to have had several players under him, all playing on credit. Some won, some lost. Cord claims that two of the players who lost can't pay, which leaves him in a bind. Additionally, Cord also lost himself, and also can't pay. It's not clear if Cord has paid the winners.
Mizzi is also angry that Cord asked him for more chips when he clearly couldn't pay, accusing him of freerolling.
That's what I can make of this.