Wednesday February 20,2013 : JESUS FERGUSON SETTLES WITH DoJ (Update)
 
Former Full Tilt Poker director pays the price to settle Black Friday indictment
 
Former Full Tilt Poker director Chris Jesus Ferguson has joined Rafe Furst and Howard Lederer in settling with the Department of Justice to escape the likely more serious consequences of his Black Friday indictment.
 
The news broke Tuesday in tweets from Ferguson's lawyer, Ian J. Imrich, who directed readers to: http://www.jdsupra.com/legalnews/stipulation-and-order-of-settlement-in-81592/ for details of the settlement agreement, advising that the deal still has to receive the imprimatur of the presiding judge.
 
Ferguson will have to pay at least $2.35 million along with all the cash in a bank account simply referred to as the “Ferguson Account.”
 
This is thought to be a significant difference to the $42 million that the DoJ was trying to squeeze out of Ferguson at one point. These funds will be used to recompense US players impacted by the Full Tilt Poker shutdown.
 
Highlights of the agreement include:
 
* Ferguson is not required to admit wrongdoing; he continues to emphasise that he was unaware of any wrongful activity by Full Tilt or that the company had become unable to satisfy player account liabilities.
 
* Ferguson forfeits to the government any remaining interest in Full Tilt Poker.
 
* He agrees not to file any claim or petition for restoration of the Ferguson Accounts Funds.
 
* Ferguson has also agreed to eschew, or derive money from, any business offering unlawful Internet poker or gambling in the U.S.