Howard Lederer has settled with the U.S. Department of Justice weeks after the settlement of fellow Full Tilt member and co-defendant Rafe Furst. In addition to an offshore bank account already forfeited, Lederer has forfeited more than $1.25 million in cash over the next three years plus real estate and cars owned by him. The US Attorney for the Southern District of New York sought no less than $42.5m from Lederer for his role in allegedly defrauding Full Tilt customers.
The settlement is in no way deemed an admission of guilt or wrongdoing by Lederer who still maintains that Full Tilt was a legitimate business providing services to its customers within the bounds of the law.
As part of the settlement, Lederer is not allowed to work or earn money from online gambling company until the U.S. has legalized and regulated the industry.
The cases of Chris Ferguson and Ray Bitar’s are still pending.