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February 19th, 2013 11:29 pm EST

Ferguson Will Cough Up Millions To Settle Suit



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Chris "Jesus" Ferguson has officially come to terms with the US Department of Justice (DoJ) regarding his civil suit. Assuming that Ferguson fulfills his end of the terms outlined in the Stipulation and Order of Settlement that was signed today, the DoJ will dismiss their claims against the former part owner of Full Tilt Poker.

The main terms of Ferguson's agreement with the DoJ:

1) Ferguson will forfeit all of the funds in an account dubbed the "Ferguson account" (the amount of money in this account is not known to the public)

2) Ferguson will also forfeit an additional amount of $2.35 million (Ferguson has 30 days to pay this money)

3) Ferguson will forfeit any claim to any potential interest in Full Tilt Poker or any dividends purportedly owed to him

4) Ferguson agrees not to work for or derive money from any online gambling company that operates unlawfully within the United States

5) Ferguson admits no wrong doing

--

The money that Ferguson forfeits to the US government will go towards repaying Full Tilt Poker's former US customers.

--

This settlement means that Chris "Jesus" Ferguson, Howard Lederer and Rafe Furst have all settled with the US government.

Former CEO Ray Bitar, on the other hand, is currently awaiting trial in the United States.

Source: JDSupra.com - Stipulation and Order of Settlement in Regard to Christopher Ferguson


Filed Under: Poker Scandals| UIGEA| Poker Legal Issues




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