Erick Lindgren's bad debts aren't the least bit surprising

[chinamaniac]

Creditors to the cage... He's cashed and still in.

Hes also stuck a shitload of makeup most likely , even if he won the whole thing nobody was getting paid

[NaturalBornHustler]

Final table

Erick Lindgren ‏@EdogPoker

Made final table of the 1500 no limit 2-7. We start at 2. 2-7 nl is a great tournament game and a lot of talent left so should be fun.

[Hockey Guy]

Out in 5th. $19,676.

Maybe he should go buy that lottery ticket because that won't get him out of debt.

[craftbeerdrinker]

Damn that's a lot of debt for an individual. Can he discharge it through bankruptcy? Then again its for unpaid taxes so he's screwed.

[bukowski72]

Interesting article on Lindgren. Also includes some good stuff on Full Tilt.

Broken: The Erick Lindgren Story

by Lance Bradley

http://www.bluff.com/magazine/broken...en-story-6094/

[BeerAndPoker]

Erica needs to leave that broke ass Lindgren.

Even if Erick happened to have a 9 inch cock it looks like 3 inches to a broad if he's a broke ass while Scotty Nguyen probably has a 3 incher that looks like 9 to a broad cause he's rich.

[ShadyJ]

Also Erick Lindgren back in the news.

Broken: The Erick Lindgren Story
by Lance Bradley

http://www.bluff.com/magazine/broken...en-story-6094/

Yeah read this one earlier too, and its funny how hes in rehab for gambling but just for the bad gambling not the poker. These guys dont realize they made their money from Full Tilt not from actually beating the game.

He just a scumbag hes going to pay the 1 guy back last because he outed him as a scammer. Like he wouldnt do the same thing if the tables were turned. What a fucking scumbag.

[shortbuspoker]

Also Erick Lindgren back in the news.

Broken: The Erick Lindgren Story
by Lance Bradley

http://www.bluff.com/magazine/broken...en-story-6094/

Yeah read this one earlier too, and its funny how hes in rehab for gambling but just for the bad gambling not the poker. These guys dont realize they made their money from Full Tilt not from actually beating the game.

He just a scumbag hes going to pay the 1 guy back last because he outed him as a scammer. Like he wouldnt do the same thing if the tables were turned. What a fucking scumbag.

The main thing that I learned from the story is that Haralabob bought his outstanding debt up like Grama on Rounders. All of this time Voulgaris has been out on Twitter and all of the other media saying that Lindgren's debts were losses to him not an outstanding balance bought by him. This is of course assuming that Erick wasn't lying.

[Crowe Diddly]

The main thing that I learned from the story is that Haralabob bought his outstanding debt up like Grama on Rounders. All of this time Voulgaris has been out on Twitter and all of the other media saying that Lindgren's debts were losses to him not an outstanding balance bought by him. This is of course assuming that Erick wasn't lying.

Here's bob's extended cut of this whole thing. Tells why he ended up taking ver the debt and all that. Cliffs: He vouched for EL to a sportsbook. Some time later, this sportsbook was gonna buy Bob's site, but was gonna deduct the EL debts from the price. Since Bob wasn't the only investor in the deal, he took on the debt so his other partners in the website could be made whole. Erick was aware of all of this the whole way, always said he'd pay the debt, blahblahblahrehabdefaultbankrupt and here we are today.

Why I never mentioned the specifics of this arrangement before?

I never really felt comfortable disclosing the fact that I was an investor in a gaming company

At the time I invested in said sportsbook it seemed like the legality was grey or quasi legal (similar to poker) a few years later it was clearly not legal as the US was seizing sportsbook money and shutting down processors left and right.

I am only now bringing this up in response to the person who accused me of doing something highly illegal (being an agent) and its simply not true.

(as somoene mentioned previously, I need a proofreader, I loathe writing so forgive me for any typos or the lazy grammar).
Any other questions?

http://forumserver.twoplustwo.com/sh...7&postcount=77

[shortbuspoker]

The main thing that I learned from the story is that Haralabob bought his outstanding debt up like Grama on Rounders. All of this time Voulgaris has been out on Twitter and all of the other media saying that Lindgren's debts were losses to him not an outstanding balance bought by him. This is of course assuming that Erick wasn't lying.

Here's bob's extended cut of this whole thing. Tells why he ended up taking ver the debt and all that. Cliffs: He vouched for EL to a sportsbook. Some time later, this sportsbook was gonna buy Bob's site, but was gonna deduct the EL debts from the price. Since Bob wasn't the only investor in the deal, he took on the debt so his other partners in the website could be made whole. Erick was aware of all of this the whole way, always said he'd pay the debt, blahblahblahrehabdefaultbankrupt and here we are today.

http://forumserver.twoplustwo.com/sh...7&postcount=77

So basically Bob is claiming that he pulled a McDermott vouching for Erick and got stuck with it when Worm ran off but decided to become Grama instead of playing Teddy KGB heads up for rolls.

completely oversimplified Rounders analogy

[Dan Druff]

Very interesting article about Lindgren.

Also I see that it verifies he was receiving $250k/month from Full Tilt, so I guess my source on that from years ago was correct.

When I told people this at the time, many called bullshit.

[cmoney]

Very interesting article about Lindgren.

Also I see that it verifies he was receiving $250k/month from Full Tilt, so I guess my source on that from years ago was correct.

When I told people this at the time, many called bullshit.

I still cant get over the story Howard told about how FTP shipped him 2 million by mistake.

[Sloppy Joe]

Also Erick Lindgren back in the news.

Broken: The Erick Lindgren Story
by Lance Bradley

http://www.bluff.com/magazine/broken...en-story-6094/

Can I take Erick Lindgren in the dead pool?

Running your mouth about Full Tilt shenanigans while on the hook for a couple mil seems like a bad decision.

Does a company as fucked up as FTP really not have hitters on the payroll?

[Dan Druff]

This segment really grabs me from the article:

Lindgren claims that after Voulgaris assumed the debt of $2.2 million, he made payments totaling roughly $1.4 million. Just as Voulgaris wrote, once Lindgren stopped receiving his dividends from Full Tilt Poker — upward of $250,000 per month — making payments on the debt became more difficult and stopped altogether. Lindgren last spoke with Voulgaris a few months after Black Friday. Asked if he has any plans to pay Voulgaris back, Lindgren hesitated before answering.

“I would like to make good on all of my debts,” said Lindgren, who admitted some hostility toward Voulgaris. “It’s probably safe to assume that he would be the last person I would deal with in the paying back of people. Bob has never been my favorite person and vice versa regardless of any money dealings we’ve had, but that being said, I do apologize and I am in the wrong.”

I really hate when people have this attitude toward those that they owe money.

Basically, if the person expresses the slightest bit of dissatisfaction for not getting paid, the debtor goes into vindictive mode and pretty much says, "Fine, if you're going to act like that, you're not getting paid!"

Why should Lindgren have hostility toward Voulgaris? What did Voulgaris do wrong?

Looks like Erick is punishing him for speaking out about the debt, which is a joke considering how long Voulgaris kept quiet about such a staggering sum of money owed to him.

[offthetop]

I understand from the last part of the article that he is still betting sports??? I don't really get that. Poker of course makes sense because thats what he is good at and is how he can best get himself out of debt, but really how the hell can he continue to bet sports. He is as good at sports betting as the badguy is at getting free food from asian restaurants

[Hockey Guy]

This is what I take from the article:

“I’ve had a gambling problem for a long time and I’ve finally got the opportunity to address it,”..........

According to Lindgren in 2003 or 2004 he approached Voulgaris, who he’d been introduced to through a mutual friend on the poker circuit, asking for advice on which online sportsbooks he could trust. At the time, Voulgaris was running WagerStreet.com.

“He pointed out a couple; he didn’t really want me to bet against him because he thought that I was fairly sharp in my action or whatever. So he told me a few sites and left it at that. He contacted me maybe a month into the season or something and said ‘If you want to bet really big, I’ve got a place for you’ and I said ‘Well, OK,’” Lindgren recalled. “And he put me into a place where I had a $2 million credit line and we settled at $500,000. I think I won three or four hundred the first week, so I was betting very big, $50K to $100K per game, and then I started losing and flipped that down to where I was stuck, I think I paid $400,000 once and $500,000 once. So I was down $900,000 to them. And then I lost I think another $2.3 million.”

I think it's pretty obvious that Voulgaris didn't want his action, not because he was too good but, because he was a degenerate gambler who had serious problems, even back then. Voulgaris looks like he set the "whale" up @ another sportsbook & got him a laughable 2 million LOC. HV probably got a commission for this referral then when shit went south, like he most likely knew it would, probably bought the debt @ much less than 50 cents on the dollar. I think it's laughable that anybody thinks he paid it in full because he "vouched" for him. I have never seen HV claim that he did pay it in full, just that Lindgren owed him a substantial amount of money. It's possible he did pay in full, but I highly doubt it.

Lindgren is probably pissed because he realizes HV was helping to set up the "whale" to bleed him dry like a crack dealer does to an addict. Remember, this was back when EL was the hottest player on the tournament circuit & what better way to get all his money than to feed his perceived weakness, sports betting. He certainly wasn't going to get it sitting across from him at a poker table. He probably also knows HV didn't pay full value on the debt & he has most likely already paid HV substantially more than HV paid for the debt. HV knew it would take a long time to get the debt paid but as long as the FTP gravy train was rolling he'd eventually get it. It was a calculated risk on his part.

[Crowe Diddly]

posted this in another thread, but may as well link it here as well. It's Bob's explanation of this whole thing.

http://forumserver.twoplustwo.com/sh...7&postcount=77

[JimmyG_415]

I understand from the last part of the article that he is still betting sports??? I don't really get that. Poker of course makes sense because thats what he is good at and is how he can best get himself out of debt, but really how the hell can he continue to bet sports. He is as good at sports betting as the badguy is at getting free food from asian restaurants

I know,
He says he was getting staked for sports betting,

who the f would stake someone like him, obv not a sharp, who doesn't like to pay back debts,
in sports betting? (or anyone for that matter, I might lend someone money for sports, I'd never stake anyone)


“I do have a plan and that’s between me and those people and we’ve been in contact and I’ll reach out to all of them as we go,” Lindgren said. “I’ve been in touch with virtually everybody. I definitely don’t avoid any calls anymore.”

I agree w/Druff's comments above, Using the word "virtually" means that many people have not been contacted by him.
Wonder how many callers, (that had gave up on him) will be back after seeing he doesn't avoid phone calls anymore.

[Dan Druff]

This is what I take from the article:

“I’ve had a gambling problem for a long time and I’ve finally got the opportunity to address it,”..........

According to Lindgren in 2003 or 2004 he approached Voulgaris, who he’d been introduced to through a mutual friend on the poker circuit, asking for advice on which online sportsbooks he could trust. At the time, Voulgaris was running WagerStreet.com.

“He pointed out a couple; he didn’t really want me to bet against him because he thought that I was fairly sharp in my action or whatever. So he told me a few sites and left it at that. He contacted me maybe a month into the season or something and said ‘If you want to bet really big, I’ve got a place for you’ and I said ‘Well, OK,’” Lindgren recalled. “And he put me into a place where I had a $2 million credit line and we settled at $500,000. I think I won three or four hundred the first week, so I was betting very big, $50K to $100K per game, and then I started losing and flipped that down to where I was stuck, I think I paid $400,000 once and $500,000 once. So I was down $900,000 to them. And then I lost I think another $2.3 million.”

I think it's pretty obvious that Voulgaris didn't want his action, not because he was too good but, because he was a degenerate gambler who had serious problems, even back then. Voulgaris looks like he set the "whale" up @ another sportsbook & got him a laughable 2 million LOC. HV probably got a commission for this referral then when shit went south, like he most likely knew it would, probably bought the debt @ much less than 50 cents on the dollar. I think it's laughable that anybody thinks he paid it in full because he "vouched" for him. I have never seen HV claim that he did pay it in full, just that Lindgren owed him a substantial amount of money. It's possible he did pay in full, but I highly doubt it.

Lindgren is probably pissed because he realizes HV was helping to set up the "whale" to bleed him dry like a crack dealer does to an addict. Remember, this was back when EL was the hottest player on the tournament circuit & what better way to get all his money than to feed his perceived weakness, sports betting. He certainly wasn't going to get it sitting across from him at a poker table. He probably also knows HV didn't pay full value on the debt & he has most likely already paid HV substantially more than HV paid for the debt. HV knew it would take a long time to get the debt paid but as long as the FTP gravy train was rolling he'd eventually get it. It was a calculated risk on his part.

I agree with the first paragraph above but not the second.

You are probably correct in that Haralabob set him up at these books because he received a commission. I agree that Haralabob wasn't hooking up Lindgren through the kindness of his heart, nor was he taking over Lindgren's debt because he's such an honorable guy and feels guilty for "vouching" for him. He probably did buy it at a discount, and figured he would eventually collect thanks to Erick's Full Tilt distributions.

However, I disagree that Lindgren hates him for taking advantage of him. If so, I think he would have said so in the article. In fact, that would have made a fairly strong case against Haralabob's character -- and to pay him back last. If Erick would have said, "Haralabob saw that I was a sick gambler, and instead of helping me, he took advantage of it by setting me up with a high-limit sportsbook and probably got a commission from it. So he basically attacked my weakness when I was at my worst, and knew exactly what he was doing. For that reason, while I will pay him back, I think he deserves last priority."

Erick said nothing like that. He just said that he didn't like how Haralabob dealt with money. I took that to mean that he was bitter at Haralabob for exposing him to the poker world and ripping him the way he did. That's why he couldn't really get specific about why he was angry with him -- because saying, "Haralabob told the world about what I did to him, and now I'm super pissed!" would make him look awful.

[Hockey Guy]

posted this in another thread, but may as well link it here as well. It's Bob's explanation of this whole thing.

http://forumserver.twoplustwo.com/sh...7&postcount=77

Good read. Obviously, since my banishment from 2+2, I don't read as much as I used to. I'm surprised I missed this though.

As for Druff, everything I wrote was purely speculation. What you wrote makes perfect sense & is also a possibility.

Of course after reading the link Crowe provided we both may be totally off base. I don't take HV post on 2+2 as gospel though, that's for sure.