PokerStars CEO Mark Scheinberg has reached a $50 million settlement with the US Department of Justice.
The agreement is a civil agreement that is not related to any criminal charges or the previous $731 million settlement that Rational Group, parent company of PokerStars, reached with the Department of Justice in 2012. That settlement involved the acquisition of Full Tilt Poker.
Mark Scheinberg was not the PokerStars CEOn at the time of the Black Friday indictments. His father Isai Scheinberg was, but a previous settlement forced his father out of the company.
The US Government alleged that this $50 million was earned before Black Friday making it profits from an illegal enterprise. Mark Scheinberg admits no wrongdoing, culpability, liability or guilt, according to the settlement agreement.
A statement released to pokerfuse by the Rational Group states:
Mark Scheinberg, the CEO of PokerStars, has agreed to forfeit USD $50 million to the US Government. This forfeiture settles potential claims against Mark’s assets based on the allegations contained in the April 15th 2011 US Government complaint against PokerStars. The agreement is not in response to any action that had been brought against Mark and contains no admission of wrongdoing, culpability or guilt on his behalf.
While the Department of Justice has been paid and the Garden City Group has established a website to pay US players no players in the US have been paid by the previous settlement. Players outside of the US have all received full refunds of their Full Tilt Poker balances by PokerStars.
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