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Howard Lederer: Freed from judicial constraints
As one of the four members of the online poker site Full Tilt Poker accused of embezzling funds from the company, Howard Lederer was the subject of various lawsuits. The latest accusation against him refers to the transfer of money of $ 42.5 million in his bank account, from the former Full Tilt Poker. Several civil complaints have been launched against him for having used the illegally acquired money to his personal purposes like buying more cars or recovery of real estate debt. Howard Lederer always denied these accusations. But this did not prevent the justice to award him a penalty like the sequestration of the $ 42.5 million he received.
On December 18, 2012, Lederer made a great decision. He established an agreement with the Office for the Southern District of New York to get rid of his prosecution. The terms of this agreement refer to the confiscation of multiple possessions of the poker player including a Shelby Cobra roadster 1965, profits from the sale of some of his properties, funds of some of his bank accounts and his property located at 309 Kingsclear Court, Las Vegas, Nevada. Lederer also accepts the agreement to not work for an online poker site before the official implementation of the U.S. market. Still according to this agreement, Lederer recognizes no dispute. He maintains his position of not having participated in the fraud perpetrated by other leaders of the society. Note that Chris Ferguson is also looking for an adequate clause in agreement with the government. As in the case of Ray Bitar, investigations continue.
Source: Oliver JOHNSON
Thursday, 27 December 2012
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