Poker Player Accused of Stealing $88M to Fund His Career

An American poker player has been accused of stealing $88 million from the state to fund his poker career. Billy Joe Taylor, a 42-year-old poker player from Arkansas, was arrested for allegedly stealing $88 million from the state to fund his poker career.

According to preliminary data, Taylor, through shell companies, fraudulently obtained state funds totaling $88 million. Starting in 2017, Billy and his accomplices created two companies, Vitas Laboratories LLC and Beach Tox LLC, which supposedly owned medical laboratories. These companies received state grants for various analyses and tests. In 2020 alone, during the peak of the pandemic, these companies received $42 million in grants, which were supposed to be used for laboratory tests. However, one of these laboratories did not even have all the necessary equipment.

Taylor invested the stolen money in his poker career. He was often seen playing high-stakes cash games at Texas Card House in Dallas. He also spent $50,000 to participate in a super high roller tournament, where he was eliminated on the fourth level of blinds. Despite the serious charges, Taylor was released on a $100,000 bail just a few hours after his arrest. Currently, a thorough investigation is underway, which could result in 5 years of imprisonment and million-dollar fines for the poker player.