John Juanda & Erik Seidel Stuck $800,000 in Superbowl Tickets Scam

Fellow poker pro Zachary Clark also put $500,000 into Fazeli's ponzi scheme

Last month we reported that Aria High Roller regular Seyed Reza Ali Fazeli had been indicted over a $6.2Million ticket scam which involved taking large sums of money from investors with which to purchase World Cup and Superbowl tickets and simply spending the cash to fund his extravagant gambling lifestyle. Well it turns out that among Fazeli's victims were two of the biggest names in poker, Hall of Famers Erik Seidel and John Juanda, who between them put $800,000 into Fazeli's ticket ponzi scheme.

Along with fellow poker pro, Zachary Clark, the trio invested a total of $1.3m according to a complaint filed in Clark County District Court reports, with Seidel and Clark both weighing in $500,000, and Juanda contributing $300,000 to Fazeli's company Summit Entertainment Limited. Both Seidel and Juanda are among the biggest ever live tourney winners with Seidel in 2nd spot on the all-time list with over $34.2m in cashes, while Juanda is currently 7th on the list with more than $23.9m. Clark only has $1m in live tourney cashes but has over $3.7m in online tourney cashes.

hout Above: Ali Fazeli used his investors money to play in high roller tournaments in Las Vegas rather than to purchase Superbowl tickets to sell at a profit as he had promised.

Fazeli had told the poker pros that he planned to spend $10m purchasing 2,800 tickets for the 2017 Superbowl and then sell them at a decent profit through Summit, with the profits being split 50/50 between the investors and Summit. Instead, Fazeli is alleged to have spent the money on high roller poker tournaments as well as using some of the money to pay off debts at casinos. In fact both the Aria and the Bellagio are also claiming unpaid debts with the Aria suing Fazeli for the $1.1m he owes them (the debt had been $2.1m before he used some of the Superbowl ticket cash to reduce the deficit), while the Bellagio claim they are owed $500,000 from Fazeli.

Fazeli, who has over $2.2m in live tourney cashes on his hendon mob profile - nearly all from Aria High Roller events in 2016 - has pleaded not guilty and will be tried in Federal court in California in May. If found guilty Fazeli could spend the rest of his life in jail.


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