According to a recent report by CardPlayer, former Full Tilt Board Member, Howard Lederer, has settled with the United States Department of Justice. Lederer has agreed to forfeit several properties as well as bank accounts for getting the opportunity to admit that he did nothing wrong.
Lederer was allowed to claim no wrong doing in the civil complaint which is associated with the Black Friday incident if he forfeited three real estate properties, vehicles and over $1.25 million in cash. Lederer also had to agree that he would not work for any online gambling site in the US until there is proper legalization and regulation.
In the beginning, the US Attorney for the Southern District of New York was seeking $42.5 million from Lederer but Lederer began negotiations and was able to come to an agreement of a smaller settlement. The settlement includes a 401k account, a Lloyds offshore bank account which is located in the Isle of Man, $1.25 million in cash to be paid over three years, forfeiture of a 1965 Shelby Cobra Roadster, real estate in Las Vegas and proceeds from the sale of two homes.
The settlement concluded that the agreement with Lederer ‘in no way be deemed an admission of culpability, liability, or guilt on behalf of Lederer.’ Lederer still maintains that Full Tilt poker ‘was a legitimate business providing services to its customers within the bounds of the law.’ He also contends that prior to April 15th 2011 he was not aware of any illegal activity that includes the fact that the company was unable to satisfy the player account liabilities.
Rafe Furst is a co-defendant in the case and Furst settled just a month ago. Chris Ferguson and Ray Bitar still have pending cases in this matter.
100% up to $3,000 Bonus
Bovada is our most recommended ONLINE CASINO and POKER ROOM for US players with excellent deposit options. Get your 100% signup bonus today.
That’s about as close to a bribe as you can get isn’t it? Everyone agrees that no crime was committed, as long as some property changes hands.. some bank accounts are cleaned out.. etc.