Trending Topics

Paul Pierce Settles Alleged Poker Debt, But Financial Woes Persist with Chase Lawsuit and SEC Settlement

Paul Pierce’s alleged poker debt is a thing of the past as he has settled with the man who sued him, according to court documents obtained by

Paul Pierce (photo via Instagram @paulpierce)

As Finurah previously reported, the controversial former NBA player for the Boston Celtics, whose net worth has been estimated at $80 million, had an alleged poker debt amounting to $180,000, plus interest to Stephen Carmona.

No Poker Face

In 2022, Carmona alleged that he lent Pierce $150,000 during a private poker game in Los Angeles, claiming that Pierce lost $140,000 in the game and only repaid $10,000. Subsequently, Carmona asserted that he provided another $40,000 in a subsequent game, but Pierce failed to repay any of that amount.

As of Nov. 17, as reported by Radar, Pierce and Carmona had their agreement in court.

Before cutting a deal with Carmona, Pierce disputed all allegations of misconduct and said the loans were “unenforceable” since the poker game was in a private home.

The poker game was at a home hosted by Carmona as opposed to being in a legally authorized venue, such as a casino, where debts are enforceable by law.

In addition, Pierce contended that Carmona had willingly taken on the associated risks, implying that he was responsible for any adverse outcomes, and the “money he purportedly loaned for poker games that he hosted at his house would be lost and/or redistributed in those poker games.”

Carmona has agreed to withdraw all claims against Pierce per the settlement terms, according to Radar. Both parties will cover their legal fees, and no monetary exchange was disclosed.

Chase Debt Stands

While Pierce may have resolved issues with Carmona, his financial troubles with JPMorgan Chase Bank, which is suing him for halting payments on the lease agreement for his luxury SUV, might not be in his favor. The bank filed a lawsuit against Pierce in Los Angeles Superior Court on Oct. 18.

Finurah reported that Pierce was officially served on Nov. 4 at his home at 11 a.m. for a 2019 Range Rover lease. Pierce had agreed to pay $3,445.28 per month until fully paid, but reportedly has not made payments since December 2021.

According to the lawsuit, there is a remaining balance of $91,459 on the car. Despite Chase’s explicit demand for repossession, Pierce has refused to surrender the vehicle, as stated in the legal documents.

The former Celtics small forward also had legal issues during the beginning of 2023, where he settled with the Securities and Exchange Commission (SEC) for crypto violations.

The federal agency criticized the NBA Hall of Famer in February for endorsing celebrity-backed cryptocurrency EthereumMax, or EMAX, as it was shortened for, without disclosing that he was a paid endorser. Pierce received $244,000 to promote the securities. Moreover, the SEC accused him of making false statements about the potential returns for EMAX investors. Other high-profile figures, including Kim Kardashian, Floyd Mayweather, and others, were also involved in this case.

In the agreement, he committed to paying $1.4 million for improperly promoting the crypto securities.

What people are saying

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top