SEC probing top poker player's bid for WPT

[mary]

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SEC probing top poker player's bid for WPT
Fri Dec 16, 2005 11:04 AM ET
WASHINGTON, Dec 16 (Reuters) - U.S. securities regulators said on Friday they are formally investigating U.S. poker champion Doyle Brunson's unsolicited $700 million offer in July to buy gaming entertainment group WPT Enterprises Inc. (WPTE.O: Quote, Profile, Research)
News of the unsolicited bid, which was nearly double the company's market value, sent WPT's stock price soaring more than 50 percent in one day to an intraday high of $29.50 per share.

 

[Reef]

No doubt Doyle made of well in this scheme. I doubt he'll serve any time though.