Written by :
Ace King
Published on :
Howard Lederer, the one time part owner of Full Tilt Poker, has settled with the US Government, agreeing to forfeit $1.25 million in bank accounts and a number of real estate properties.
The US Government accused Lederer of running an elaborate ponzi scheme in connection to Full Tilt Poker following a series of indictments involving that online poker firm and others on April 15, 2011. Full Tilt Poker ultimately exited the US market and was recently purchased by PokerStars.
Prosecutors were initially seeking $42.5 million.
As part of the settlement, Lederer has agreed not to work for any Internet gambling website tied to the US until such activity becomes legalized.
- Ace King, Gambling911.com
