On Tuesday, Chris Ferguson's attorney, Ian J. Imrich, revealed that Ferguson filed for a settlement with the United States Court Southern District of New York. Here are some "highlights" of the settlement:
- Ferguson to hand over at least $2,350,000, along with "all funds in the Ferguson Account (the "Ferguson Account Funds")." I don't know what the figure in those accounts would be. At one point the government was seeking $42mm from Ferguson.
- Ferguson's surrendered funds will contribute to player repayment pool.
- Ferguson agrees to not work in unlicensed online gambling or online poker.
- "This Stipulation and Order of Settlement shall in no way be deemed an admission of culpability, liability, or guilt on behalf of Ferguson. Further, this Stipulation and Order of Settlement shall in no way constitute any reflection upon the merits of the claims and defenses asserted respectively by the United States and Ferguson."
- "Ferguson contends that he was unaware of any wrongful activity at Full Tilt or that the company had become unable to satisfy its player account liabilities"
Click here to view all settlement papers.
source: onlinepokerreport
