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It appears that Tobey Maguire (and most of the other players named in the lawsuit) has decided that it’s much easier to cough-up what would be an exorbitant amount of money for most of us in order to have a lawsuit settled regarding poker winnings in a private game. Apparently one of the players was a hedge fund manager who was using his clients’ funds to live the High-Life.

Victims of Bradley Ruderman (now in jail for his crimes) decided to sue some of the winners from these high-stakes private poker games even though none of the defendants knew where Ruderman’s money was coming from, or suspected him to be involved in illegal activities.

According to the Associated Press, Maguire has entered a settlement amount of $80,000 of the original $311,000 he supposedly won from Ruderman to make the lawsuit go away. The settlement amount still needs to be ok’ed by a court next month. Maguire was adamant that he had done nothing wrong, and he simply didn’t want to have to pay the exorbitant legal fees to defend himself.

The article also noted that many of the other players named in the lawsuit have similarly settled out of court. Apparently 14 of the 22 people named have decided to settle the case out of court, and the AP is reporting that over $1.7 million has been handed over by the participants in the game –the ultimate bad-beat in poker in my opinion.