Wednesday January 30,2013 : FORMER FULL TILT POKER DIRECTOR NEGOTIATING WITH DoJ
"Extensive settlement conversations" have been taking place over the past few weeks
Former Full Tilt Poker director Chris Ferguson has reportedly been in serious settlement discussions for several weeks with the Department of Justice, according to court filings seeking a time extension to enable the negotiations to continue.
Reporting on documents filed on Tuesday, Card Player notes an extension to February 19 has been granted.
Ferguson, along with Howard Lederer, Rafe Furst and Ray Bitar were named in the Black Friday closures that crippled Full Tilt Poker early in 2011. Lederer and Furst have reached multi-million dollar settlements with the authorities, but Ferguson initially applied for a motion to dismiss the allegations against him in a civil case lodged by US Attorney Preet Bharara.
Card Player notes that US players are still awaiting reimbursement despite Pokerstars acquiring FTP last year and agreeing to pay the DoJ some $781 million in settlement and funds for player pay-outs. It is understood that players are owed around $159 million, and that the DoJ is still involved in organising a third-party financial enterprise to process the payments.