The guy stole, and he spent money badly. What does any of this have to do with poker players?
I don’t know about yachts, but consider homebuilding.
If you pay a contractor to build you a house, and that contractor takes your money, builds you a house, but does not pay his suppliers (brick, tile, services, etc.), those supplies may place a lien on your property, even though YOU paid the contractor. The house is the expression of the fraud.