During a secluded poker game. - Reportedly, a British aristocrat suffered a loss of £18.8 million.
George Cottrell, a 30-year-old British aristocratic banker, has reportedly lost a staggering 18.8 million euros in a poker game held in Budva, Montenegro. Insiders claim he played against Chinese billionaires, Hollywood celebrities, and top-tier poker stars, ultimately having no chance against these high-stakes players.
The Triton Super High Roller Series, sponsored by GGPoker, is currently ongoing in Montenegro. This exclusive event attracts the crème de la crème of poker players worldwide, with entry fees ranging between $25,000 and $200,000 for diverse events. In addition, there are behind-the-scenes cash games running constantly, where players must bring their own cash to the table and there's no limit. These games are a favorite gathering spot for the uber-wealthy.
Apparently, Cottrell was participating in a highly exclusive poker round. With blinds of $100,000/$200,000 per betting interval, he would have needed $200,000 on the table for entry. Given that, losing $18.8 million doesn't sound so far-fetched.
So, who's George Cottrell?
At one point, he served as the chief of staff to Nigel Farage, a 60-year-old politician who co-founded the Brexit party in 2019. However, his past is clouded by legal troubles. On July 22, 2016, Cottrell was arrested by IRS Criminal Investigation agents at Chicago O'Hare International Airport in the U.S. He was indicted on 21 counts of conspiracy to commit money laundering, wire fraud, and racketeering. A judge declined to grant him pre-trial release.
The indictment accuses Cottrell of laundering millions of dollars through offshore bank accounts. However, in December 2016, he negotiated a plea bargain with prosecutors. They agreed to drop 20 charges in exchange for a guilty plea on a single count of wire fraud. Cottrell was released in 2017.
Now, he's back in the spotlight due to a monumental poker blowout. But will it be another legal fallout?
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Source: symclub.org