In the lawsuit, which Poker.org has obtained, Chan details how he met with La and Sin at the Bellagio in September 2019 to discuss buying into the club, which was then known as 52 Social. Chan asserted in the lawsuit that he was promised a 20% share in exchange for $40,000 and use of his name and likeness. However, Chan then claimed that “June” Sin refused to sign any documents that acknowledged his 20% ownership stake, despite La acknowledging Chan’s ownership stake.
Chan’s lawsuit alleged several torts including fraud, breach of contract, and the misappropriation of Chan’s likeness. Chan also alleged that Sin tried to buy him out of the 88 Social operation at one point for $100,000.
The larger bomb in the lawsuit, however, involved Chan’s allegations against Sin. Chan described Sin’s failure to acknowledge Chan’s part ownership as “the result of Mr. Sin’s greed and his desire to continue looting the company for his benefit and to the detriment of all shareholders.” Chan went on to describe an operational scheme wherein La and Sin were “distributing hundreds of thousands of dollars monthly to numerous owners and employees characterized as ‘house players,’ and these players use this free money to play in poker games, either keeping the winnings or kicking them back to one or more of the Defendants.” Chan also alleged that Sin purchased a car for himself with company funds.