Fifty three-year-old billionaire investor Marc Lasry was originally offered the prominent post by the President. Lasry made no secret that he was highly interested in being the top US representative in France, even planning to move his family to the country. However, the Co-founder of the $12 billion Avenue Capital investment firm declined the offer after his friendship with an accused senior figure in the ring, Illya Trincher, came to light recently.

Born in Morocco and raised in the US state of Connecticut, Lasry is known for being a major supporter and financial supporter of the US Democratic Party. Former US President Bill Clinton is one of his best friends and he raised just under $1 million for President Obama’s re-election campaign last year.

Lasry also has a passionate hobby in poker, having professed a love for the game due to the mathematical aspect and the fun of playing it with other people. He is known among a number of high-stakes poker players in the Big Apple for playing for high amounts of money that has been said to occasionally run into the millions.

The father of five also hit the poker news waves in 2011 after he and larger-than-life tycoon Donald Trump stated their intentions to launch an online gambling joint venture. It is currently unclear whether or not these plans are ever set to go ahead in the future.

Lasry’s withdrawal from the ambassador position is certain to cause some embarrassment to President Obama, given the context of the situation and Lasry’s heavily support of the Democrats. However, the extent of Lasry’s involvement with the recently busted poker ring is not yet known, which means there is unlikely to be any major consequences for the President.