Poker Player Gets 8 Years For Theft, Money Laundering

A securities agent with an apparent gambling problem was sentenced to eight years in prison this month for stealing more than $500,000 from his clients to fund his poker bankroll, among other activities.

Evan Kochav, 34, of Jersey City, pleaded guilty on Dec. 16 to second-degree charges of theft by deception and money laundering, according to a press release dated April 1 from the state of New Jersey.

In addition to his prison term, Kochav will be ordered to pay restitution to the victims. The government referred to him as a professional poker player. He has more than $85,000 in lifetime tournament earnings, with the largest score coming in a $500 no-limit hold’em event at the 2005 United States Poker Championship in Atlantic City.

New Jersey said that Kochav spent a large amount of the investor money at casinos in New Jersey, Pennsylvania, Florida and Costa Rica, and on at least two poker websites. He also transferred investor funds to his wife and misused investor funds to pay for shopping, dining, air travel, hotels, football tickets and other entertainment.

Related Articles

High-Tech Cheating Method Concerning Poker Players

Family Suspects Murder Of Scottish Poker Player

‘Poker Shark’ Linked To Banned NBA Player Arrested

Most Viewed Articles