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Rafe Furst Settles With DOJ About Fulltilt Poker

Former board member clears the slate with authorities
Former FullTilt Poker  shareholder Rafe Furst, in response to the US Department of Justices second civil claim amendment in which he was named, has settled with the authorities according to court documents filed this week.
The amended claim filed by authorities in September alleged that Furst benefited from the disbursement of $11.7 million in shareholder payments paid partially from player deposits.
Others named in the amendment included former FTP chief executive officer Ray Bitar, Howard Lederer and Chris Ferguson.
Court documents note the terms of the settlement which say Furst admits no wrongdoing, agrees to forfeit all funds without admitting liability in the civil action named Trust Account, will pay a civil forfeiture amount of $ 150 000 in "additional funds" and puts on record he was unaware of any wrongful activity undertaken by FTP or that the company could not cover its player account liabilities.
The terms of the settlement further lay out that once Furst has completed the agreed payments to the Government, the civil case against him will be dropped with prejudice and he has no further claim or right to appeal.
He is also bound by the settlement to have no dealings of any kind with internet gambling business in the U.S. including internet poker until those businesses are deemed legal by the U.S. authorities and the appropriate laws passed.
Forfeited funds will be added to the remission fund for U.S. Full Tilt players' refund programme.

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Gambling News :

Wanajump Launches - #Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.

Coral Launches player proposition betting product - Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.

Oshi online casino now accepts fiat currencies - The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.

New Standards for UK Online Gambling - Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.

Pennsylvania Gambling Bill 1887 returned with additions - The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.

UKs Advertising Standards Authority vs Ladbrokes - A Ladbrokes Casino email promo has fallen foul of the UKs Advertising Standards Authority who deemed significant terms and conditions concerning bonusing to be unclear or misleading.

Mybet Earnings Struggle - The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".

Tom Horn Awarded Malta Gaming License - Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.

Calvin Ayre invests in new Antigua Business Center - Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.

Attack of the Zombies Slot - Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.

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