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Divorce Drama Reveals Phil Ivey made $920,000 a Month from Tiltware

Phil Ivey

In November 2011, Luciaetta Ivey filed a petition with the Nevada Supreme Court after she discovered her husband, poker pro Phil Ivey, had contributed $5,000 to the campaign of Family Court Judge Bill Gonzalez, the judge assigned to their 2009 divorce case. Phil Ivey answered that petition with a response filed in December, laying out details surrounding the divorce settlement. Now, according to the Las Vegas Review-Journal, Ivey’s wife is unhappy with the settlement.

In a new document filed with the Nevada Supreme Court on Tuesday, Dec. 27, 2011, Luciaetta Ivey "has attempted only to secure information to confirm that she received a fair settlement." Part of that information was for Phil Ivey to produce documents to the court showing his income from Tiltware, a company of Full Tilt Poker, had ceased. According to those documents, he received approximately $920,000 a month "from his passive interest in the company which was indisputably acquired during the marriage.”

Married in Las Vegas on May 19, 2002, the Iveys' divorce turned bitter after Luciaetta Ivey discovered her ex-husband’s campaign contribution, inspiring her to seek Gonzalez’s disqualification from the sealed divorce case, a request that was denied by Chief District Judge Jennifer Togliatti. Luciaetta Ivey then took the matter to the Supreme Court, who ruled that she had raised issues of "arguable merit” and gave her ex-husband 30 days to respond.

"At the time Phil made his campaign contribution, Judge Gonzalez did have jurisdiction over this matter even though the case was 'closed,' '' Luciaetta Ivey’s lawyer, Bruce Shapiro, wrote in the reply. "Phil can make the claim over and over again, but the case was far from over when he made his donation.”

He went on to say: "There can be no doubt that when a family court litigant makes a substantial contribution to a family court judge and then appears in front of that judge only months later, that it is unseemly and raises at least the appearance of impropriety."

According to court documents, Luciaetta Ivey received about $180,000 a month as taxable alimony from her husband’s Tiltware payment, "while Phil enjoyed the remaining approximately $740,000.” Per the agreement, those payments, which Luciaetta Ivey had received from January 2010 until April 2011, stopped when Phil Ivey ceased receiving them from Tiltware after Black Friday.

In Phil Ivey’s response, he claimed his ex-wife “received a purse collection worth more than $1.2 million, jewelry valued at more than $1 million and $180,000 a month in alimony as part of the divorce settlement, while he accepted more than $170,000 in credit card debt and more than $15.1 million "in gambling and other debt."

Luciaetta Ivey admits that the settlement awarded her the jewelry, "but Phil ignores that his own jewelry is awarded to him with no assessed value." In addition, she believes the settlement was unfair considering she “had no idea then and has no idea now where Phil's money came from or where it went.”

Luciaetta Ivey, who now resides in Florida, has filed a federal lawsuit in Las Vegas according to the LVRJ. The lawsuit names her ex-husband and his attorney, David Chesnoff, accusing each of “conspiring to deprive her of her equal share of the community property acquired during the marriage.”

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Comments

  • diamond2012 diamond2012

    Flintswordwe , we dont know whether the fulltilt Business was Profit , but i think you have forgotten , fulltilt managment were taking the Players fund and were enjoying with that Money by paying each others millions of $. It is fraud and full tilt was completely responsible of. so no Need to be sorry about it. Beside this , if he has hidden the real income from his wife at that time , then he s liable to pay exact amount with interest.

  • JessicaLynn JessicaLynn

    "In addition, she believes the settlement was unfair considering she “had no idea then and has no idea now where Phil's money came from or where it went.”

    $180,000 a MONTH, millions of dollars in assets and she is worried she has been deprived her equal share ? Is this bitch crazy or is it just me?

    That being said, I did some looking around.....

    Less than 50 people contributed more than $100 at a single time during his entire 2010 campaign, including Gonzalez himself.

    Ivey made the largest contribution allowed by law.

    Ivey made the largest contribution out of the 50 people.
    The second highest contribution was $2,500 by a single person
    Followed by a few $1,000 contributions.

    According to Gonzalez's 2010 expense report; 10_DCF-F_GONZALEZ_REPORT1.PDF
    Which can be found here:
    http://www.clarkcountynv.gov/Depts/election/Pages/CampaignFinance.aspx

    It does seem a bit odd.

  • flintsword flintsword

    The fact that Phil Ivey could be paid $920,000 a month illustrates how profitable - fundamentally - FullTiltPoker was. It also points out the level of mismanagement in place to sink a company with that kind of amazing cashflow.

    Groupe Tapis will - without a doubt - put in place professional management after paying off all the players owed money outside of the U.S.A. (remember that the DOJ has decided to handle all of the money going to U.S. citizens).

    As for Phil Ivey and his divorce, these sort of processes involving community property are double-edged weapons in court, especially in light of the fact that Phil Ivey can well argue that the community property has in fact decreased since the last divorce decree. In any case, although it is fascinating, it IS Phil Ivey's personal matter and quite frankly none of anyone's business.

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