A poker player with more than $750,000 in tournament cashes has been indicted on insider trading charges. Anthony Marsico is accused of using insider knowledge to buy shares in a rival company before its acquisition.
39-year-old Marsico, who hit the poker headlines last summer by heading day 3 of the WSOP Main Event, was named in a federal indictment released today by the U.S. Attorney’s Office of Northern District of Illinois.
The indictment claims that in late 2021/early 2022, Marsico bought 900,000 shares in a rival cannabis company’s stock after “obtaining material, non-public information about his company’s agreement to purchase the rival company.”
The shares resulted in illegal profits of approximately $607,338 after Marsico sold the shares on before a public announcement that the potential acquisition was canceled.
The indictment reveals that “was employed by Company A as an executive vice president at its Chicago, Illinois headquarters” and whose responsibilities included: “reviewing and revising materials such as earnings reports and earnings call transcripts in advance of public announcements.”
It then states that Marsico “wilfully used and employed, in connection with the purchase and sale of securities, a manipulative and deceptive device and contrivance…by:
- (a) employing a device and scheme to defraud; and
- (b) engaging in an act, practice, and a course of business which operated and would operate as a fraud and deceit.”
The indictment also reveals that Marsico allegedly passed on the information gleaned from his own employment to others, a total of four defendants – “social friends [who] played golf together at a private country club”, profiting from the scheme.
Marsico is also charged with six individual counts of securities fraud. He has yet to enter a plea in the case but the indictment states that he must forfeit $634,816 and any property connected to his alleged acts.
Marsico’s Poker Career
According to his Hendon Mob listing, Marsico has 11 major results dating back to 2010 and totalling $760,891. His largest cash of $265,825 dates back to 2012 when he took down the Chicago Poker Classic Main Event in Hammond.
More recently, Marsico has been seen at the World Series of Poker, with several notable deep runs and cashes.
In 2018 he cashed for $42,980 for finishing 254th in the Main Event (John Cynn’s winning year), followed by a 4th spot worth $96,272 in the $10k Limit Hold’em Championship in 2019 (won by Juha Helppi).
2023 saw Marsico finish 10th in the $50k PLO High Roller for $157,963 and 26th for $15,035 in the $5k PLO bracelet event.
At last year’s World Series, the 39-year-old Illinoisan repeated his 4th place in the Limit Hold’em Championship, for $101,062) and then started the $10k World Championship Main Event well, leading the chip counts after four starting flights and days 1 and 2.
He eventually busted out in 481st spot for a $35,000 payout.
Marsico’s most recent cash came in December at the $10k buy-in WPT Wynn World Championship finishing 234th for $21,600.
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