Back in July it was reported that poker legend Doyle Brunson had put in a $700m bid to buy the World Poker Tour (WPT). The result of this was an increase in WPT stock by more than 50% and an immediate slide back when the deal remained uneverified by Brunson's legal representatives.

The SEC has now taken a look into these so-called dealings and are investigating Brunson's alleged offer and subsequent publicising.

According to the SEC Brunson has instructed the law firm, using the attorney-client confidentiality privilege, to withhold certain documents including backup materials with details of the offer and not to testify concerning critical details of the offer. Government regulators said on Friday they had filed an action in federal district court in Fort Worth, Texas to enforce the subpoenas issued to attorneys David Chesnoff and Charka Henry for the documents and testimony. Doyle Brunson refused to testify in the investigation and invoked his Fifth Amendment right against self-incrimination, the SEC said.

Naturally Brunson's attorney denies any wrongdoing on his client's behalf - but it does seem to be a case of "you've gotta know when to hold'em...know when to fold'em"

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