$1.2M poker payments under scrutiny in tax fraud trial

Tax fraud trial exposes $1.2M poker transfers between Phua, Dwan and Goldstein

A high-profile tax fraud trial in Maryland has brought fresh scrutiny to financial ties between poker players Paul Phua, Tom Dwan, and their associate Thomas Goldstein. Court testimony revealed that Goldstein moved over $1.2 million between Phua and Dwan, with transactions spanning from 2015 to 2021, as tracked by yahoo finance. The case has drawn attention from the poker community, including coverage by commentator Doug Polk in his news updates.

The trial, now nearing its conclusion in February 2026, examined Goldstein's role in facilitating payments between Phua and Dwan. Verified ledgers and text messages from 2016 to 2017 showed transfers totalling at least $1,290,000, including $550,000 in 2016, $680,000 in 2017, and a further $60,000 in 2021, all linked to Phua's poker staking agreements or losses owed to Dwan, as finance records indicate.

During cross-examination, witness Andrew Robl was questioned about his connections to Phua. The defence argued that the payments were loans rather than unreported gambling winnings. Earlier records also confirmed that Goldstein had sent two separate transfers of $1.2 million to Dwan in 2015 and 2016, as google finance data shows. Additionally, in 2017, a representative acting for Phua instructed Goldstein to settle a debt by transferring funds directly to Dwan's account.

The trial also highlighted personal ties between the men. Goldstein had taken short-deck poker lessons from Dwan, while Phua had long been known as Dwan's financial backer in high-stakes games.

The case has laid bare the financial relationships between Goldstein, Phua, and Dwan, with millions moved over several years. While the defence maintains the transfers were loans, the prosecution's evidence ties the payments to poker-related obligations. The trial's outcome could have broader implications for how such financial arrangements are treated under tax law.