Retired NBA Star Paul Pierce Settles Disputed Poker Debt
Former NBA star Paul Pierce has resolved a longstanding legal dispute with Stephen Carmona over a disputed poker debt, according to the website Radar Online. The settlement indicates that the two parties have agreed to put an end to the feud.
The lawsuit, initiated by Carmona in 2022, revolved around his claim of having loaned $150,000 to Pierce for a poker pick-up game. Carmona alleged that Pierce, after losing $140,000 at the table, only returned $10,000. He also claimed to have extended another $40,000 to Pierce for a second game, with Pierce not repaying any portion of that loan. Pierce vehemently denied any wrongdoing and argued that the loan agreements were unenforceable.
As part of the settlement, Carmona has agreed to drop all claims against Pierce, and both parties will be responsible for their respective legal fees. There has been no mention of any monetary exchange as part of the settlement.
In California, gambling debts are generally considered unenforceable and void, which means individuals cannot be legally compelled to repay gambling debts incurred at a casino or in a private setting. However, there are exceptions for debts arising from licensed gambling establishments. In this case, the loans were for a home poker game, an informal setting where the debt cannot be enforced by a court of law.
The settlement with Carmona marks a significant step in resolving one aspect of Pierce’s complex financial situation. However, he continues to grapple with various legal challenges, including a $1.4 million settlement with the Securities and Exchange Commission (SEC) over allegations of unlawfully promoting cryptocurrency securities.
Pierce also faces a lawsuit from JPMorgan Chase Bank, alleging that he ceased making payments on his 2019 Range Rover in December 2021. Court documents show that Pierce had agreed to make monthly payments of $3,445.28 until the vehicle was fully paid off, with the outstanding principal balance at $91,459 at the time of the bank’s lawsuit.
The settlement with Carmona is a step forward for Pierce, but he still faces legal challenges as he navigates through his complex financial situation.