Doug Polk Issues Statement Regarding Money Laundering Investigation at The Lodge
Last Tuesday, the poker world was rocked when The Lodge, the largest cardroom in Texas, was raided by approximately 20 Texas Alcoholic Beverage Commission (TABC) agents along with officers from the Williamson County Sheriff’s Office and the IRS.
Authorities executed a search and seizure warrant in conjunction with an ongoing investigation into suspected money laundering and illegal gambling, according to Chris Porter, TABC Director of Communications.
The Round Rock venue, co-owned by Doug Polk, Andrew Neeme, and Brad Owen, had the club’s assets and bank accounts frozen as part of the ongoing investigation.
There are still plenty of unanswered questions as the club remained closed with no formal charges having been filed.
On Monday, March 16, Polk made his first public remarks since March 11, the day after the raid, when he guaranteed that all player funds would be safe and called the TABC investigation a “witch hunt.”
In his latest statement, Polk denied any knowledge of money laundering, recommitted to paying players, and that he is fully cooperating with authorities as they continue their investigation.
Here is Polk’s statement in full:
I did not participate in, and still have no knowledge of, any money laundering in the operation of the Lodge.
I understand that some people assume that because there was a search warrant, a crime must have been committed, but that’s not really how the process works. A search warrant is just one step in an investigation, based on an affidavit from law enforcement.
That affidavit has not been given to the Lodge or made public.
My heart goes out to the hundreds of Lodge employees whose jobs are in jeopardy. These are good, kind, hardworking people, and it is painful to see them struggle through this uncertainty.
I also care deeply about the situation for our members. There are numerous people with both chip balances and tournament payouts that cannot currently be processed. I want to reiterate that these members will be made whole, and I will personally make sure that happens, in coordination with my attorneys, so that it is done properly.
With the advice of my lawyers, I am committed to cooperating with law enforcement officials, answering any questions they have, and doing everything I can to clear up the confusion of what has and has not been happening at The Lodge.
I expect to provide another update soon, once more information is available and my attorneys have had an opportunity to fully assess the situation.
In the meantime, I appreciate your patience and support.
Polk’s statement comes a day after The Lodge released a statement of their own, which was the topic of a PokerNews Podcast episode devoted to the latest developments.
Hear about the facts as we know them, a timeline of events, and some of the current speculation as to what might be the root cause of the raid.
This is a developing story and PokerNews will bring you updates whenever they may occur.
