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US poker player stole $88 million from the state

Poker player stole money from the state

​Some American poker players are willing to commit a crime for the sake of playing in the expensive high stakes games.

Some days ago, the 42-year-old US player Billy Joe Taylor from Arkansas was arrested on suspicion of organizing the large fraudulent scheme.

According to the preliminary data, Taylor took over $88 million of public funds by deception through the shell companies.

Read also: 2018 WPT Main Event champion sentenced to 6.5 years in prison

Starting from 2017, Billy with his accomplices created two companies “Vitas Laboratories LLC” and “Beach Tox LLC”, which allegedly owned the medical laboratories.   

These companies received the government subsidies for conducting a variety of analyzes and tests. In 2020, in the midst of pandemic, these companies received $42 million in subsidies that were to be used for conducting the laboratory tests. However, one of these laboratories didn’t have all the necessary equipment.

Billy Joe Taylor "invested" the stolen money in his poker career. He was often seen playing high stakes cash games in the Texas Card House in Dallas. He also spent $50 000 for participation in a Super High Roller tournament, but he was eliminated at the fourth blind level.

Despite such a serious charge, Billy was released on bail of $100 000 within a few hours after the arrest. Currently, a thorough investigation is being carried out, as a result of which the poker player faces imprisonment for a term of up to 5 years and millions in fines.

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Sunrise
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Cardmates journalist, news editor and translator since 2016. Specialization: poker news and review of events.
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