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FTP's Rafe Furst Settles with DOJ Over Black Friday Case
Former Full Tilt Poker board member Rafe Furst has settled the civil complaint against him and will forfeit the trust account named in the complaint and pay a $150,000 fine.
As part of the settlement Furst contends he was unaware of any wrongful activity of Full Tilt Poker, specifically that the company did not have player balances, and admitted no wrongdoing in the matter.
As a further penalty Furst can no longer receive money from any online gambling businesses in the United States until, and if, such activities are legal and regulated in the country.
The original complaint was seeking $11.7 million from Furst on grounds of fraud and money laundering.
They money taken from Furst is going to be added to the funds available for remission to U.S. players, although there is already enough money to cover player balances from the PokerStars settlement earlier this year.
Before Black Friday, Furst was a sponsored pro on Full Tilt Poker who won a WSOP bracelet in 2006.
Lederer, Bitar and Ferguson Cases Still Ongoing
Howard Lederer, Ray Bitar and Chris Ferguson have yet to settle their cases and the government is seeking considerably more from them with $42.5 million from Lederer, $40 million from Ferguson and $40 million from Bitar.