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2010 World Series of Poker finalist Michael “The Grinder” Mizrachi tells CBS 4 South Florida that he is working with an attorney on getting his $340,000 tax lien reduced.
``Sometimes you get into a hole, and you can't dig yourself out of it,' he told the news outlet.
Mizrachi's tax attorney, Steven Chung, says he will argue to the IRS that The Grinder exercised ``due diligence'' but did not always receive the best financial advice. ``I think he has a strong case,'' Chung said.
Gambling911.com had previously reported on Mizrachi’s South Florida home foreclosures, two of them.
That was a business decision, he says.
Mizrachi owed more than what the home was worth and decided to simply walk away.
Mizrachi estimates he lost between $600,000 and $1 million in the real estate market.
As CBS 4 points out, his fortunes have improved much faster than the financial market. Mizrachi is guaranteed just shy of $1 million as a WSOP finalist but could end up with substantially more, up to several million in fact. He had won the $1.56 million Players Championship this summer as well.
Ace King, Gambling911.com
