Poker players are notorious for making business deals. Perhaps more notorious for making bad ones. With millions burning holes their pocket, it's easy to see how a savvy businessman can talk a poker player into thinking they are making a wise investment.
Glen Chorny may just be the newest member of that club.
Chorny was already a member of pokers elite after winning the 2008 EPT Grand Final, along with over $3.1 million. That money was put to quick use the same year after a businessman from Indiana decided to take over the world with his latest business.
Philippe Rouas is a restaurateur from Indianapolis Indiana. He approached Chorny about becoming an investor in what Rouas called a social network for poker players. This would be a poker themed social gathering site called Poker World Society.
No such site exists to this day, which is why Chorny has taken legal action.
According the IndyStar, Chorny filed the lawsuit in Indianapolis with Philippe Rouas as the defendant. The lawsuit claims Chorny was mis-lead about the business and lied to until 2015. Apparently Chorny was told everything was fine, when in reality, the project had folded years prior to Chorny knowledge.
According to Rouas, he told Chorny that the brand he created existed called Poker Battle, but was without a product.
Chorny invested $3,7 million into the company for a 10% stake, putting an estimated value on the company at over $30 million. Chorny was told upon investing that the company would make $2 million a day. Obviously, this never happened.
While the $3,7 million is a lot of money, this represents all of Chorny lifetime poker earnings. Other than his $3.1 million win at the EPT, Chorny has only won $300,000 outside of this event, and has not had a live cash since 2014.