• Mon. Jun 21st, 2021

Poker Participant Dennis Blieden Sentenced to six.5 Years for Stealing $22 Million

ByBet-Now

Jun 11, 2021

Posted on: June 10, 2021, 05:04h. 
Final up to date on: June 10, 2021, 05:40h.

Philip Conneller Learn Extra

Poker participant Dennis Blieden, 31, was sentenced to 79 months in jail on Wednesday for embezzling $22 million from a digital advertising and marketing and expertise company that sorted social media influencers.

Dennis Blieden craved validation from the poker gamers he had idolized on TV. He blamed his crimes on his playing and amphetamine habit. (Picture: NYC Poker Tour)

In February 2018, the Cincinnati native gained the World Poker Tour’s LA Poker Basic for $1 million. However these winnings have been only a drop within the ocean in contrast with the cash he had already stolen from his employer, Hollywood-based StyleHaul Inc.
Blieden was the VP of accounting and finance for StyleHaul from October 2019 and had management of its financial institution accounts. In response to an inner SyleHaul memo filed by prosecutors, in 2017 alone he embezzled $15 million.
He did this by wiring money to his private account, whereas creating pretend accounting data and bogus Western Union letters so it will seem cash was going to purchasers.
Faux Way of life
Prosecutors mentioned this allowed him to stay out a fantasy elite-poker life-style, getting into the most important tournaments, enjoying within the largest money video games, and rubbing shoulders with gamers he’d beforehand solely idolized on TV.
And he curried favor along with his new buddies by backing them in tournaments. He issued greater than $1 million in checks to different gamers, in accordance with courtroom filings.
Blieden additionally invested a few of the stolen cash in cryptocurrency, which accrued worth. However this was not sufficient to offset the cash he misplaced playing on on-line poker and slots, as effectively on the stay poker circuit.

An inner StyleHaul investigation in 2019 uncovered Blieden’s transgressions. In an interview in March that yr with fellow firm executives, he lied when requested how a lot was left of the sum he had stolen.

He mentioned he had round $50,000 in his private accounts and a few cryptocurrency in varied e-wallets.
However in accordance with the feds, he subsequently dropped $3 million into slot machines in Las Vegas after he broke up along with his longtime girlfriend.
StyleHaul Collapse
StyleHaul couldn’t survive Blieden’s monetary abuse. The agency as soon as had 5,000 digital influencers on its books, together with YouTube and Instgram stars Zoella, Joey Graceffa, and Dulce Sweet, and claimed to generate 2.5 billion views per thirty days.
It initially deliberate to shut its US operations and relocate to London, nevertheless it folded for good in Might 2019.
In a pre-sentencing letter to California Central District Decide André Birotte Jr., Blieden blamed his conduct on his habit to playing and amphetamines.
Following his WPT win, he mentioned he was “outwardly validated inside the poker group and from my friends as being knowledgeable gambler, so I did all the pieces I may to maintain that status alive.
“I used to be chasing my debt, but additionally trying to maintain up with a life-style that was a lie,” he confessed.

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