PokerStars Chairman Agrees to $50 Million Forfeiture

PokerStars.com LogoMark Scheinberg, the chairman of PokerStars has agreed to pay $50 million to resolve forfeiture demands by the U.S. government connected to a money laundering lawsuit the online gambling company settled last year.

According to an order filed late on Tuesday in U.S. District Court in New York, Scheinberg, the chairman of the Isle of Man-based PokerStars, had continued to receive distributions for PokerStars that were subject to forfeiture.

Scheinberg agreed to the settlement to finally resolve the matter, after disputing that the money was subject to forfeiture.

In a statement by PokerStars the “agreement is not in response to any action that had been brought against Mark and contains no admission of wrongdoing, culpability or guilt on his behalf.”

This settlement comes on top of the $731 million PokerStars itself agreed to pay in July 2012 to settle a lawsuit, filed a year earlier by the U.S. Department of Justice which included $547 million that would be used to reimburse U.S. customers of Full Tilt Poker which is now owned by PokerStars.

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