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Lederer settles in court

Tags: black friday, Chris Ferguson, full tilt poker, Howard Lederer, Rafe Furst, Ray Bitar.
Posted on 20 December 2012 by "M".


Howard Lederer, the former Full Tilt Poker president, settled with the U.S. District Court in New York on Tuesday the 18th of December. Lederer agreed to pay more than $2.5 million to settle the civil suit that was brought on him by the U.S. government.

According to Bluff Magazine, "Lederer will turn over to the government two bank accounts of unknown value, a 1965 Shelby Cobra roadster, two Las Vegas properties with a combined value of approximately $975,000 and an additional $30,000 traceable to the sale of a third Las Vegas property".

In addition, "Lederer also agreed to pay the government a two-part money judgment, comprised of a civil money laundering penalty of $1.25 million and an additional $168,000 that will be liquidated from certain of Lederer’s other bank accounts. The money laundering penalty is payable in two installments, due 18 months and 36 months from now, and is secured by Lederer’s two remaining Las Vegas properties".

With Lederer's settlement, two of the four people that was "personally named" in the Black Friday case against Full Tilt has reached an agreement with the court. A few weeks ago, the former director Rafe Furst settled his case with the U.S. District Court in New York by paying a $150,000 penalty.

Chris Ferguson and Ray Bitar's cases remains pending.

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9 comments on "Lederer settles in court"

 Fakiry20/12/2012 15:53:31 GMT
Is Howard Lederer able to pay all this? If he is, than he sure won a lot during the time he was president. I know these guys win a lot, and a couple of residences and some bank accounts won't make that much difference to him, although it will reduce considerably his possessions. But the penalty for the money laundering is almost as big as the first one, which turns things even harder for him. This shouldn't keep him away from the big tables, still.
 retribution20/12/2012 18:59:26 GMT
They embezzle millions, yet get a fucking slap on the wrist. It's disgusting how minimal these "penalties" are. Although losing that '65 roadster would SUCK because that's a sweet car. Still, these thieves stole money and then hid like cowards for over a year. I don't feel justice is even close to being served.
 Macubaas20/12/2012 20:49:16 GMT
I actually think that he will actually be able to pay all of this, do we need to remember once again how much he won from ftp?

Still, i'm surprised to see that in US you can do an economical crime and if you give the money back you can simply get away with it.
 rv20/12/2012 22:03:58 GMT
Of course he is able to pay this money. It's peanuts for him.
What about all those people whose fund got frozen, where are their compensation?
 Greenmohave20/12/2012 23:32:29 GMT
So does anyone think that Lederer got money from Pokerstars for the sale of FullTilt and it's based on payments? Besides all the money that's been made from FullTilt prior to the whole "Black Friday" scandal. I mean Lederer probabley has properties all over the world and only letting go of the Las Vegas Realestate. I'm sure he's set for life!
 edyholdem21/12/2012 22:59:26 GMT
wtf!!!!!!!!1 this is a facking joke. im sure poker stars is involved in full tilt breakdown and im 1000% that mister skammberg is the bigest scammer in the history of the world. catch him if you cant. HA HA HA
 milagrosaz23/12/2012 00:50:37 GMT
Full Tilt Poker pays 250,000 pounds of taxes owed to the AGCC

When the Alderney Gambling Control Commission (AGCC) postponed its decision about the license of Full Tilt Poker was expecting a reaction from the room. This was not long in coming.

The latest information about this particular "romance" has been paying the taxes that Full Tilt owed ​​the AGCC. According to, the room has paid nearly £ 250,000. One fact is that the gaming license and is valid, but still can not recover its activity.

It is likely that in the coming days is to release a new date for the meeting between the AGCC and Full Tilt. A statement released on the website of the gaming commission read the following:

"The recent payment of taxes by Full Tilt Poker is of vital interest to the player as it allows negotiations to come to fruition and perform a refinancing agreement. As soon as possible will announce further details on the exact date and place of the next hearing. "

So far, nothing is known of European investors are rumored to be behind the purchase of the company.

We look on possible developments that may arise around the future of money back players from the room.
 Macubaas26/12/2012 07:03:07 GMT
I have to agree with Green, Lederer has a lot more money than the ones he need to pay in this case...

I'm still amazed that after what they did to so many people that had accounts there they can get away with it so easily.
 RoninHarper26/12/2012 07:39:26 GMT
G'day mate
I think you must really be kidding right. I mean we are talking about the rich stealing from the poor.
There are many rich people who think this is just the natural order of things. I personally know multi-millionaires who truly believe it is there right to do whatever they want to make more money off the "little people".
"They do not matter after all if they did they would become rich too"

I have heard these statements made more than once. They really pissed me off but what can i do. The laws are designed by the wealthy to protect them and keep them safe and making more money.
There is NO crime a rich person can not commit if he is willing to pay enough to buy his way out of it.
The rich do not general care that they successfully stole from the poor folks. They are just surprised he was caught. You think im wrong?

Well be cool. good luck on the tables.

Ronin Harper Cool

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