PokerStars’ Scheinberg to Forfeit $50m to DOJ

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PokerStars’ chairman Mark Scheinberg will forfeit $50 million to the U.S. government as part of the first-amendment complaint that was filed in 2011.

The Scheinberg settlement marks the resolution of the government’s case against PokerStars, which began in 2011.

The settlement has no effect on the deal PokerStars made with the DOJ last year to purchase the assets of Full Tilt Poker for $731 million.

Scheinberg, who is the son of PokerStars founder Isai Scheinberg, did not admit any wrongdoing in the case and disputed the funds were even subject to forfeiture.

The DOJ was working off provisions that allow the seizure of property used in an illegal gambling business as well as property derived from bank and wire fraud and money laundering. 

Despite PokerStars’ massive settlement with the U.S. government to buy Full Tilt Poker, former U.S. full tilt poker players have yet to get their account balances back. The government has set up a website for claims and in March said players would be able to make claims "shortly."

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