Howard Lederer Off The Hook For $2.5m

Howard Lederer Off The Hook For $2.5mFull Tilt director Howard Lederer was facing a $42.5 million lawsuit for his involvement with the tarnished online poker site, but after months of wrangling with the Department Of Justice it appears  he has now agreed to pay up over $2.5 million in cash and assets to settle the dispute.
On Tuesday, Lederer agreed to complete payment in two 18 month installments, with the deal including paying a $1.25 million money-laundering penalty, forfeiture of two Las Vegas properties worth a total of $975,000, handing over $168,000 in cash from his various liquidated bank accounts, as well as his 1965 Shelby Cobra Roadster.
In return, Lederer agreed not to work or receive money from any online gambling website in the U.S.A unless the activity becomes legalized stateside. In addition, he admitted no wrongdoing in the case with the 49 year contending that Full Tilt was a “legitimate business providing services to its customers within the bounds of the law, and that prior to April 15, 2011, he was unaware of any wrongful activity at Full Tilt including that the company had become unable to satisfy its player account liabilities.”
Originally, prosecutors described Full Tilt Poker as a Ponzi scheme designed to divert gamblers’ funds into the operators’ own pockets. However, after PokerStars bought Full Tilt with around $300 million set aside to refund players their missing funds, the  criminal case was largely resolved. Full Tilt board member Howard Lederer has never been charged with a crime. Meanwhile,  fellow director Rafe Furst settled with th DoJ after forfeiting a trust account and paying a penalty of $150,000 penalty, while Chris ‘Jesus’ Ferguson has yet to settle his case. Finally, Raymond Bitar faces the prospect of life behind bars after surrendering himself to authorities.

Other news:   Multi-state online poker compact bill introduced in Pennsylvania

Poker News
Online Poker Cheats Able To See Opponent's Cards Using Netbot Attacker
10 Oct 2019
Poker social media and news sites has been a buzz all week with reports of high-profile cheating by poker pro Mike Postle on the Stones Gambling Hall live streamed game, Stone Live. The accusations were taken up a notch yesterday after a lawsuit was filed against Postle and a list co-conspirators. The lawsuit was filed
Gordon Vayo Suing PokerStars Over $700k in Unpaid SCOOP Winnings
09 May 2018
Last May, Gordon Vayo won a PokerStars Spring Championship of Online Poker Tournament Series (SCOOP) event for $692,461, but the US pro has still yet to collect his money after the operator claimed that he had violated the country’s law by playing from within the US. As a result, Vayo has now filed a lawsuit
09 May 2018
One of the stories to emerge from the 2017 World Series of Poker had nothing to do with winning a coveted gold bracelet, but instead involved a multi-million dollar dispute between King’s Casino owner Leon Tsoukernik and Aussie poker pro Matt Kirk, with the latter accusing the former of stiffing him out of $2 million
26 Feb 2018
Almost eight months after a bad beat jackpot was triggered at the Red Rock Casino in Las Vegas, the players are finally set to receive their payouts following a positive judgement issued by the Nevada Gaming Control Board (NGCB). Since last July, the Red Rock Casino had refused to pay the $120,000 jackpot, claiming that