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Howard Lederer Settles Civil Case With Southern District of New York

According to a Stipulation and Order of Settlement filed on Tuesday, former Full Tilt Poker board member Howard Lederer has settled his civil case with the Southern District New York.

Lederer was one of four Full Tilt Poker board of directors named in a September 2011 Amended Civil Complaint in which the Government sought the forfeiture of $42.5 million paid by the company to Lederer. The U.S. Attorney's Office alleged that Full Tilt Poker operated as a "massive Ponzi scheme" and claimed that the board defrauded the players out of more than $330 million.

In September of this...

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yakskywalker Beginner Wrote 10 posts since 10-20-2009	Big blind stolen! 12-19-2012 08:26
flintsword Senior Wrote 675 posts since 04-17-2007	Meanwhile, every FullTiltPoker player in the U.S. remains in limbo, effectively screwed and will be very, very lucky to see a dime prior to 2014. The U.S. DOJ once again fills its coffers because this whole exercise has nothing to do with justice or the law, but everything to do with how much money the DOJ in the U.S. can extract from U.S. citizens that dare to play poker online while the DOJ has declared the current online Poker Prohibition. You cannot really blame Howard for settling ... the DOJ makes the rules, holds the cards, and takes the money. Howard can however be blamed for handling the entire mess in such a way that his name is mud. Instead of now handing over all of this cash to the DOJ, he could have easily made a cash injection into FullTiltPoker to support the business rather than letting it collapse cash poor. Hindsight has 20/20 vision but in this case the actors were all blind. 12-19-2012 08:28 flintsword "The lucky player is usually the player that knows how much to leave to chance." www.myspace.com/flintsword
bluestone77 Beginner Wrote 33 posts since 04-20-2011	The dollar value of all this is very vague but appears to be equal to no more than a years salary of a high stakes cash game player. Doesn't seem like much of a penalty to me 12-19-2012 10:10
daveg1818 Beginner Wrote 2 posts since 09-20-2011	i hope doj gets everything and hl is left with nothing...otherwise it sucks that he walks and lives comfortably 12-19-2012 10:12
HorribleHank Beginner Wrote 17 posts since 08-20-2011	Very dissapointing. If anyone thinks this is a punishment you would have to be crazy! 1st and foremost he gets to keep his name for future hall of fame purposes which is bullshit! 2nd this is just a fine for a fraction of what he squandered! He is guilty of fucking people all over world out of their money!, destroyed a lot of the online gaming community credibility. This guy was known as the" Professor" for $%#&% sake! Then the DOJ just grinds a ltiile profit off of Howard! and all is right woth the world! I hope the poker world is far less forgiving! He should be banned from poker for life!! 12-31-2012 13:24