BUSINESS

Howard Lederer settles civil complaint

TAGs: Chris Ferguson, howard lederer

howard-lederer-full-tilt-motion-dismissFormer Full Tilt Poker board member Howard Lederer has become the latest to settle civil charges brought against him by the U.S. Attorneys Office in the Southern District of New York following Black Friday. Lederer has agreed to forfeit over $1.25million in bank accounts as well as luxury items and several properties in the Las Vegas area in an agreement that stipulates Lederer admits to no wrong-doing in the case that came about as a result of Black Friday. The amended civil complaint was filed way back in Sept. 2011 and accused Lederer – alongside fellow FTP board members Rafe Furst and Chris Ferguson – of defrauding FTP customers out of around $42.5million.

Poker blogger Diamond Flush adds that Lederer has agreed “not to work for, or derive money from, either directly or indirectly, through the operation of any internet gambling business in the united States, including businesses offering internet poker in the United States, until if and when a change in applicable law takes place making the offering of such gambling lawful in the United States and Lederer, or whatever entity with which he is affiliated, obtains appropriate authorization from all relevant governmental regulatory authorities.”

The same article claims that Lederer and his wife hosted a party for around 150 people at “the palatial mansion he managed to keep”.

Lederer’s settlement leaves his friend Ferguson as the only one of the trio yet to settle the complaint against them. Ferguson had reportedly joined Lederer’s motion to dismiss and has so far failed to settle the civil case against him. He motion is now a stand-alone motion and the government has until Jan. 28, 2013 to respond to the motion. Ferguson will then have until Feb. 18, 2013 to file a reply.

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