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Poker superstar Michael Mizrachi may have $6.9 million in career winnings, but he reportedly owes $339,000 in federal taxes and is facing foreclosure in South Florida.
According to the Internal Revenue Service, records show that the 29-year old, Mizrachi, owes the federal government $339,711.
A Hollywood, Florida condo he owned with his brother was foreclosed on and sold via an online auction and his home, in Miramar, Florida was foreclosed on in March. The home is currently up for sale.
Mizrachi blames his money problems on mismanagement his poker winnings by his accountants, which he has since fired.
“They were doing a bad job,” he said. “I’m working on settling the liens.”
Mizrachi had a huge year in 2005, winning a World Poker Tour event that paid $1.85 million and tying a World Series of Poker record with seven in-the-money finishes.
In 2006, he won another WPT tournament worth $1.1 million and had enough other tournament success to be named CardPlayer Magazine’s player of the year.
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