SEC Subpoenas Brunson’s Webmaster

Doyle_micThe Securities and Exchange Commission (SEC) has issued a subpoena for Doyle Brunson employee Wallace Nakano. Nakano ran when poker legend Doyle Brunson posted his unsolicited, $700-million bid to buy WPT Enterprises Inc. on the site.

According the the LA Times, Nakano’s lawyer, Leonard Sharenow, doesn’t think his client has any information to share on the matter. Says Sharenow, "It’s my understanding that he doesn’t have information relating to this offer. I’ve communicated that to [the SEC]. I don’t understand why they’re so insistent on him testifying."

The day after Brunson’s announcement, which was for twice the market value of the WPT at the time, WPT shares rose to $29.50, up 66% from the previous day’s close.  Shares fell 12% the next day.


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