Phil Galfond is a top poker pro who has won countless millions at the cash game tables at popular online poker sites such as Full Tilt Poker and PokerStars. Galfond may only be 27 years old but his poker mindset is one that many players have wanted to emulate for as long as he’s been playing the game. The pro previously worked for Bluefire Poker, as a lead instructor, offering the best in poker advice. However, he would end up leaving the company in 2011 and is now suing his former employer for his share of profits.
Galfond’s videos at Bluefire Poker were the highest rated videos on the information site and it was very surprising when the pro decided to leave in 2011. Galfond reported that he parted ways with the training site but did not give a real reason why. At the time, Galfond stated that it was a very difficult decision to leave the site that he helped build from the ground up.
Now it seems that the two parted ways in a negative fashion. Galfond is now suing his business partner William F. Murphy for past due profits. Galfond claims that Murphy failed to pay him his part of the profits from the Bluefire Poker website.
When the website launched in 2009, Galfond agreed to a joint venture. Galfond was due to receive a 38.33% cut of the profits while he posted videos, blog posts and his involvement for the major decisions of the company. Galfond earned $179,000 for the first year and then over $238,000 for the second year. However, he was not paid for 2011. Galfond has now reported that he was never given accounting information such as tax returns or records so could validate the amount of money he was given for his profit percentage.
In the claim, it states: “Blue Fire has been immensely successful, having thousands of members who pay an initial enrollment fee of $100 in addition to a subscription fee of $30 per month…Upon information and belief, the defendant Murphy has misappropriated and converted to his own use and possession the assets of MGH.”
We will continue to cover this story and release any new information as it happens.
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