Howard Lederer forfeits bank accounts in US Fulltilt Case

December 19,2012 : FORMER FULL TILT POKER DIRECTOR IN U.S. SETTLEMENT
 
Howard Lederer forfeits bank accounts, vehicles and personal assets, but admits to no wrongdoing.
 
Former Full Tilt Poker director and Black Friday indictee, Howard Lederer has come to an agreement with the US Attorney for the Southern District of New York in regards to a civil claim filed by the Department of Justice.
 
Whilst agreeing to forfeit the unpublished contents of bank accounts, vehicles and property, Lederer was not required to admit any wrongdoing.
 
The high profile poker pro has been the subject of wide, and not always complimentary media coverage following a series of online interviews he gave on the FTP failure earlier this year.
 
In an amended civil complaint filed last September, the US Attorney quantified the liability of Lederer in the FTP issue as around $42.5 million, reports the online poker information site Pokerfuse.
 
The settlement agreement also requires Lederer to pay $1.25 million in additional funds, due over the next three years, along with the forfeiture of a vintage automobile, and the proceeds of the sale of two Las Vegas properties.
 
A more stringent condition attached to the agreement is that Lederer may not work for or derive earnings from any internet gambling businesses in the United States until federal law makes the pastime legal, after which he is required to obtain prior authorisation from the appropriate government regulatory body.
 
Lederer is the second former FTP exec to reach a settlement with the US authoirities – in November Rafe Furst agreed to various forfeitures, but was not required to admit wrongdoing