Anurag Dikshit To Settle with DoJ for $300 Million

Published on December 15th, 2008 10:42 pm EST

Anurag Dikshit, co-founder of PartyGaming (parent company of Party Poker) and its largest shareholder, will reportedly be pleading guilty to a charge related to illegal "web betting" in a New York court room later today.

Dikshit has reportedly agreed to pay $300 million dollars to US authorities, and is also apparently running the risk of serving two years in jail as a result of the guilty plea. Dikshit is hoping that the Department of Justice will recommend that he serve no jail time since he voluntarily stepped forward.

Dikshit has also agreed to co-operate with the Department of Justice, according to an article posted on FT.com.

According to the FT.com article, Dikshit is reported to have "found the pressure to be too much", and wanted to put the matter behind him.

Other major shareholders in PartyGaming, including Ruth Parasol and Russ DeLeon, have reportedly been resistant to the idea of settling with US authorities, and apparently have no plans on turning themselves in as well.

PartyGaming itself has been embroiled in negotiations with the DoJ for many months now, but so far a settlement has not been announced. There have been rumors of a settlement, but nothing has officially been announced as of yet.

We'll have more on this story after Dikshit makes his appearance in court.

Source: FT.com - PartyGaming Shareholder to Turn Himself In

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Filed Under: Poker Legal Issues