Furst Settles with the DOJ

Furst Settles with the DOJ

Friday, 30 November 2012

The shadow of Black Friday has almost lifted off Rafe Furst as a settlement with the US authorities now means he’s absolved from any further prosecution.

After submitting a settlement paper to the Southern District Court of New York, Furst received news that it had been accepted pending payment of any outstanding money.

Scanning the legal document reveals that the records will show Furst assumes no wrongdoing for his part in the activities at Full Tilt. Moreover, he maintains that throughout his time with the company he was unaware of any illegal activities or wrongdoing.

Furst has also been banned from working or being involved in any way with an internet gambling company in the US. On top of this he is required to pay back at least a portion of his $11,706,323 Full Tilt proceeds (although it’s as yet unclear exactly how much), as well as an extra $150,000 which has been classed as “additional funds”. This money will be used to help repay those with money still locked up in Full Tilt.

Assuming that Furst makes good on the payments he can expect the civil case against him to be dropped and the matter settled.

While Furst has successfully put the situation behind him, both Howard Lederer and Chris Ferguson have yet to have their settlements finalised and accepted.

To read the full settlement, click here.

Tags: Rafe Furst, DoJ, Black Friday, Chris Ferguson, Howard Lederer