Back in September 2011, Rafe Furst, a former Full Tilt Poker board member, was tied to the civil money-laundering and forfeiture case regarding Black Friday. Furst has now settled with the United States Department of Justice and Furst will be handing over a trust account that is located in Switzerland.
The official document was filed last week at the United States District Court for the Southern District of New York and a total of eight pages were listed. The document stated that Furst agreed to forfeit all the funds located in the trust account. This account is allegedly the one where he received his Full Tilt distributions. Furst must also pay $150,000 in fines. The documents also stated that Furst did not admit to any wrongdoing and stated he was “unaware of any wrongful activity of Full Tilt Poker and unaware that the company had become unable to satisfy its player account liabilities.
The money paid in by Furst will be part of the $184 million that is owed to players at Full Tilt from the United States. The funds are said to be coming back to players by January of next year. The document also stated that Furst has agreed that he will not work or derive money from, ‘directly or indirectly’, from any operation or any online gambling business located in the US. This includes businesses that offer online poker in the US.
In the beginning, the US District Court for the Southern District of New York was trying to get over $11.7 million in forfeitures from Furst. Now the civil charges against Furst have been settled, but other board members are still in the hot seat. Howard Lederer, Ray Bitar and Chris Ferguson have over $40 million in forfeitures being asked for by the US DOJ.
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