11/29/2012 : FURST SETTLES WITH U.S. DOJ
 
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.