Jamie Gold Responds to $12 M WSOP Lawsuit

[Sponger.]

Nice post Nick, I hadn't really thought of it this way.

[buckslayer80]

Doesn't a lot of this come down to what the oral contract laws are in Nevada? I've always wondered how that worked. If the contract was conceived orally then it can be broken orally right? So if this thing is going to court I'm sure Gold's big time lawyer is going to use every trick he can to prove 1) the oral contract was not binding or 2) take some spin on it and say he canceled the contract a few days prior to the phone call. And say something like the money he mentioned on the recording (if in fact Leyser has a copy of this recording)was for something else. This could go a million ways in court. Would some of the lawyers on here mind chiming in about how these oral contracts are usually defended in court, and what the success rate of the defendant winning is.

And Jamie is a total idiot for making a deal like that. I'm sure he figured he had a slim chance of making any big money, but you've still got to protect yourself in case. I would have said I'll play and we'll split the profits up to $100K. I know a deal is a deal, but jeez. All the guy did was make 5 or 6 phone calls.

But if Gold made the deal then I guess he has to stand by it. I'm a very honest person, but I'd have a hard time giving someone $6M for making a few phone calls. It almost makes you want to take the stand of "if you're going to be unreasonable, and not take my offer of $1M, then I'll just use a lot of my newfound wealth to fight you in court with the best lawyers in the country." Or something to that effect.

[buckslayer80]

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People are really quick to jump on Jamie Gold without any real understanding of the facts. I don't have any real understanding of them either, but what I have read gives me no indication that Gold is trying to breach a deal.

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This is the way I see it too Nick. I fully believe that the stalling is due to tax reasons. It's only been 2 weeks. It's not like this happened a year ago.

[benfranklin]

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People are really quick to jump on Jamie Gold without any real understanding of the facts.

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People are really quick to jump on anyone or anything in these forums without any real understanding of the facts.

My impression of Gold from his radio interview is that he is a butthead. But there are no "facts" yet as to what he promised anyone and what he is doing about that.

The groundless speculation here as to who promised what to whom has been galactic. And generally unfounded. And often inane. Get a life, people.

[MicroBob]

Nick - I can see it that way too and we really don't know a whole lot about what's going on.

But this part:


“Jamie Gold is disappointed that the plaintiff, a person he has only known since July of this year, has elected to file litigation rather than continue the parties' discussions in an effort to find a resolution to this matter.”


indicates to me that Jamie may be trying to get away with something and Leyser's concern may have been justified.

Seriously, with a 50-50 deal ahead of time WHAT on earth is there to negotiate?
If it was a tax thing and Gold was trying to set up a corp in order to get more money or something you would think that Leyser could very well go right along with it if it meant more money for him at the end.


I'll be curious when the facts come out.
perhaps Gold really is trying to do the right thing here and Leyser just got paranoid really darned fast.

for $6-mil with a guy I barely know...who seems a bit slimy in the first place...I might beahve similarly.

[TimTimSalabim]

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If you read the entirety of the phone conversation, it sounds like Gold is responding to a really paranoid Leyser who has been harassing him about getting his share of the money for the past several days. The fact that Leyser filed this lawsuit before Gold even attempted to redeem his money from Harrah's also seems to indicate some paranoia. I'm obviously not privy to any private conversations the two have had, but my reading of the facts at this point make Gold out to be the more reasonable of the two.

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You might be pretty paranoid too if there was that much money at stake. It's not like somebody loaned out a few grand to a buddy, we're talking millions here promised from a guy he didn't know that well. And it's a lot harder to get the money once it's in the other guy's hands, thus the preemptive strike.

[BeaucoupFish]

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Wow, you have a twisted way of looking at it. Gee, what is the magic number at which it becomes okay for Gold to default on his obligation?

[/ QUOTE ] I simply have a neutral perspective on Gold, I haven't decided to hate him, at least not yet. I have no doubt however that this hate is twisting other ppls views on this situation.

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Right on! I agree. Another thing I've been wondering, why the hell was Harrah's going to pay this gold digger dude 12 million dollars in the first place?!?! For what? For a few days of work?

[/ QUOTE ] For winning the WSOP. He won it, you know.

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if I was bodog and I saw the celebrities they had gotten I would have said, "Sorry...we thought you meant REAL celebrities for a $10k seat. These guys are MAYBE worth a $1500 2nd-chance event seat for you. Good luck."

[/ QUOTE ] This is where I think Leyser simply didn't isn't 'deserving' of $6M.

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I would have said I'll play and we'll split the profits up to $100K. I know a deal is a deal, but jeez. All the guy did was make 5 or 6 phone calls.
...
I'm a very honest person, but I'd have a hard time giving someone $6M for making a few phone calls.

[/ QUOTE ] Exactly.

I was trying to point out that Leyser's involvement was pretty negligible, he was a bystander, and that the so-called celebrities he tagged is unimpressive.
If Gold is stalling to determine best tax break on split winnings, Leyser will look like the bigger 'gold digger'.

I also realise my opinion (non-legal, i.e. 'fair'?) is in the minority. You all might be right. I'm just not jumping to conclusions.

I still don't understand how the casino can be forced to withold payment, there is no agreement between Harrah's and Leyser. Any suggestions?

[52s]

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Seriously, with a 50-50 deal ahead of time WHAT on earth is there to negotiate?
If it was a tax thing and Gold was trying to set up a corp in order to get more money or something you would think that Leyser could very well go right along with it if it meant more money for him at the end.


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"Negotiate" may have been the word used, but I don't think it should be taken literally in this case, as in "Jamie Gold was trying to negotiate the cut to be a lesser amount". I think Jamie's "negotiating" involves him wanting to maximize the net profits of the win for both him and Leyser.

I'm with the thinking that Jamie's going through his options of how to best protect himself against taxes, and wants his LLC or whatever he's going to do set-up before he goes to the Rio to sign the papers and get his money.

But here's Leyser all over him. The phone message transcripts read of a man (Jamie) who's been the one that was being put under "irrepairable duress" by Leyser being all over him over his cut of the money while Jamie was *still playing*. That last one the day of the Final Table reads to me the words of a man who's been hounded day and night by the man he amicably agreed to financial terms with, and may have been the cause for Jamie snapping and hiring the bodyguards. Due note we only have transcripts of what Gold said into a voice mail... SOMETHING f'd up had to be said on Leyser's end to have the messages come to that.

And now Leyser's claiming in the lawsuit he's afraid Jamie will burn through the money, calling him a "gambler", when Jamie has yet to pick up the money?

Everyone's quick to jump on Gold because of his personality, but to me, there's a ton of stuff underlying this lawsuit, and I have a good feeling the real SCUMBAG in this will end up being Leyser.

[Lawman007]

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Doesn't a lot of this come down to what the oral contract laws are in Nevada? I've always wondered how that worked. If the contract was conceived orally then it can be broken orally right? So if this thing is going to court I'm sure Gold's big time lawyer is going to use every trick he can to prove 1) the oral contract was not binding or 2) take some spin on it and say he canceled the contract a few days prior to the phone call. And say something like the money he mentioned on the recording (if in fact Leyser has a copy of this recording)was for something else. This could go a million ways in court. Would some of the lawyers on here mind chiming in about how these oral contracts are usually defended in court, and what the success rate of the defendant winning is.

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An oral contract is just as binding as a written contract in situations like this. The problem with oral contracts is usually proving their existence. However, in this case, if these recordings do in fact exist, then that could be sufficient to prove that the contract existed. If the contract existed, then Gold can't breach it.

I think some of you guys are giving Gold way too much credit. If he owes the guy, he ought to pay him what he owes him. There is nothing to "work out" outside of court, unless he wants to try to talk Leyser into taking less than he is owed, and why should Leyser do that?

If I was Leyser and this guy owed me 6 million bucks and refused to pay me, I wouldn't have waited as long as Leyser did to sue him.

And this whole business of trying to set up a corporation to avoid paying taxes on the 12 million is a bunch of crap. It sounds to me like a good way to end up in the pokey. If you win a bunch of money, you can't set up a corporation after the fact to avoid paying income taxes on it.

[Willy]

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But Gold actually made it BIG. How on Earth does this justify a $6M payday?

If this is how it went, it's pure greed and makes me feel pretty sick.

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Right on! I agree. Another thing I've been wondering, why the hell was Harrah's going to pay this gold digger dude 12 million dollars in the first place?!?! For what? For a few days of work?

Come on, I've never seen a greed like that. A normal guy would be happy to get a thousand or two for his troubles. I say, pay them both five grands and the initial investment and they should be thankful and happy. If not, to hell with them! (The same goes with all the lotto winners etc. greedy bastards.)

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OK Starfish, here's the deal. I want to buy a lottery ticket for $1.00. I tell you that I will give you half if I win if you will drive me to the store to buy the ticket. You agree and give me the ride. I win $10,000,000.00. I offer you $2,000,000.00, a great return on a car ride. Do you accept or are you a "greedy bastard" and want half as promised?