Tobey Maguire

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Tobey Maguire knows when to fold 'em.

The star, currently filming Baz Luhrman's adaptation of The Great Gatsby with pal Leonardo DiCaprio, has reached a settlement in a lawsuit accusing him of winning more than $300,000 as part of an allegedly illicit poker ring organized by a currently imprisoned Beverly Hills hedge-fund manager.

So what did Maguire do to untangle himself from this complex legal web?

MORE: Get the full details of the settlement here

E! News has confirmed the 36-year-old thesp—an old poker hand having entered and done well in several professional tournaments including the 2007 World Series of Poker—has agreed to ante up $80,000 in restitution in order to be dropped from ongoing litigation.

The lawsuit, filed in March in federal Bankruptcy Court in California, was initiated by a trustee for investors seeking to get back the money the actor had won in several invitation-only high stakes Texas Hold 'Em marathons between 2007 and 2008.

The games, which took place at luxurious locations including five-star hotels like the Four Seasons and private Beverly Hills homes, were orchestrated by Brad Ruderman, a hedge-fund wiz and CEO of Ruderman Capital Partners. 

MORE: Maguire wanted in court in 2012

Ruderman was convicted of investment fraud and wire fraud and is currently serving a 10-year sentence for hatching a Ponzi scheme that skimmed more than $25 million in investor funds to pay off poker his debts. Cash paid to Maguire was considered ill-gotten gains as Ruderman embezzled from his clients.

Maguire was among a handful of Hollywood A-listers said to have played in the below-the-radar tourneys, along with the likes of DiCaprio, Ben Affleck and Matt Damon—none of whom were named in the suit.

According to court papers, the gambler's bankrupt estate decided to accept Maguire's payment as a compromise instead of going to court.

Per the terms of the deal, Maguire handed over the 80 grand with the proviso that he will not sue the estate. He also acknowledged that he was unaware of the Ponzi scheme and did not knowingly receive any additional dough from Ruderman beyond what he won at the table.

The two sides reached the agreement on Nov. 18 and once a judge signs off on it, Maguire will be in the clear.

Maguire's lawyer, Robert Barta, was unavailable for comment.

PHOTOS: Tobey and Leo snapped on set

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