Poker Pro’s Seek $20M In Stolen Cash

by | Published: Wednesday, January 18th, 2012

Eight big time poker players have launched a complaint against Excapsa Software, the former owners of poker website Ultimate Bet.

They claim employees of the company swindled more than $20 million form them and other high stakes players.

The case involves poker pros Brad Booth, Tom Koral, Dustin Woolf and Daniel Smith who say they are down $2 million between them.

Their claim is that employees had access to their hole cards and thus could play against them on the same table knowing exactly what hands they were up against.

Extracts from the complaint read:

“Since at least June 2003 and until at least January 2008 Excapsa/UltimateBet did conspire to and did direct, effect, and permit the theft of over $2 million held in plaintiffs’ online poker accounts at UltimateBet.com. Specifically, by creating and making use of an intentional a security flaw in the UltimateBet.com software, and with the assistance of owners, agents, and employees of Excapsa and its various subsidiaries that operated UltimateBet, defendants either allowed others to or did directly view plaintiffs ‘hole cards’ during high-stakes poker matches run at UltimateBet.com.

“With the assistance of owners, operators, officers, employees, and/or agents of Excapsa and its subsidiaries, the cheaters were further able to change their online identities to avoid detection and to improperly funnel their illicit proceeds through various UltimateBet accounts in a manner that would have been impossible without insider assistance. Through these activities, defendants stole or caused to be stolen at least 20 million dollars from plaintiffs and other high-stakes poker players at games run by UltimateBet.”

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