Online Poker

Did Full Tilt steal $5.4m from Erik Seidel?

by Jeremy

2011 was an incredible year for Erik Seidel since he managed to earn $6.53 million and win several prestigious tournament titles. But as much money as Seidel won last year, even he can’t afford to be duped out of $5.4 million. Unfortunately, that may be exactly what happened if you believe the following tweet sent by high stakes poker pro John Juanda:

Howard didn’t mention in his interview that FTP management also stole 5.4M from my best friend@Erik_Seidel #LedererFiles

The tweet is an obvious reference to the series of interviews that Howard Lederer is currently doing with PokerNews. Like most of the poker community, Juanda has been very critical of Lederer and his interpretation of what happened with the FTP scandal. More specifically, Lederer has spent much of the time deflecting blame onto others rather than accepting responsibility for his role in Full Tilt’s downfall.

Besides Lederer dodging responsibility, another reason why Juanda is fuming is because Howard tried to accuse John and other pros of contributing to the FTP mess. Juanda was one of the players who borrowed money from the site and didn’t pay anything back. However, he was merely waiting until somebody bought Full Tilt before paying off his loan. Juanda sent several tweets about this as you can see below:

I owe FTP $256K, was offered to settle for 80% but declined when I found out Ray, w/boards’ approval,was still taking home 200K+/mo post BF

Instead I offered to pay 100% as soon as I could be certain it’d go toward paying players NOT management salary&lawyers fees

What would u do in my shoes? Send check to same ppl who just stole from ur buddy?Or wait+hope to pay to the right parties?

Howard Lederer certainly hasn’t made many friends in the Full Tilt debacle, and he’s unlikely to be best buds with John Juanda any time soon - especially after trying to drag his name through the mud!

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