Published on: February 12, 2026, 01:59h.
Updated on: February 12, 2026, 01:59h.
- Goldstein claims 2016 gambling revenue was effectively zero
- Authorities assert that poker earnings were significantly underreported
- Investigation into mortgage discrepancies and poker debts ongoing at trial
Tom Goldstein, a former Supreme Court attorney with a side career in high-stakes poker, took the stand in his widely publicized tax evasion case on Wednesday.
Goldstein presented to the jury in the US District Court in Greenbelt, Maryland, framing the matter as a bookkeeping issue rather than an outright fraudulent act. He indicated that he relied on accountants and other personnel for managing tax submissions, as reported by Reuters.
Prosecutors assert that Goldstein neglected to pay millions in taxes and is accused of using capital from his legal firm, Goldstein & Russell, to settle gambling debts while also providing false information on mortgage applications.
They claim Goldstein possessed accounts that held his poker earnings and did not accurately disclose his gambling ventures to his tax advisor, ultimately leading to an inaccurate representation of taxable income. Furthermore, they argue he misrepresented his debts in mortgage applications. Goldstein has entered a plea of not guilty to the accusations.
Significant Wins and Losses
The court was informed that Goldstein amassed an estimated $50 million in poker winnings in 2016, including approximately $26.4 million from a series of heads-up matches against a wealthy entrepreneur from Beverly Hills, but only declared $2.7 million in net gambling income on his tax forms.
In a December 2025 conversation with The New York Times, Goldstein identified this entrepreneur as Alec Gores, the billionaire creator of Gores Group. The indictment does not specify the individual designated as “California Businessman-2.”
Goldstein countered on the stand that the government’s calculations were flawed. He contended that with the proper accounting for staking deals, transfers, and reductions, his actual net gambling income for 2016 amounted to zero, implying that his tax return inflated his income by $2.7 million.
Despite generating substantial profits and losses from some of the world’s largest poker games, Goldstein claimed to have a net loss of about “$10 million.”
He did acknowledge that he had hidden his gambling debts on mortgage applications to shield his wife from the full scale of his poker-related financial issues.
Tobey Maguire Testifies
Actor Tobey Maguire stated last month that he hired Goldstein to assist in recovering over $7 million in poker earnings. Maguire mentioned that he paid Goldstein $500,000 for legal services, which prosecutors claim was funneled to a third party at Goldstein’s direction to settle gambling debts. It should be noted that Maguire is not facing any charges.
This marked the 16th day of the trial presided over by U.S. District Judge Lydia Kay Griggsby, with Goldstein scheduled for cross-examination on Thursday.