PokerStars boss settles DoJ dispute

PokerStars boss settles DoJ dispute

Thursday, 13 June 2013

PokerStars CEO Mark Scheinberg has reached an agreement with the United States District Court for the Southern District of New York that will see him hand over $50 million in exchange for being released from any future claims relating to the ‘Black Friday’ indictments of 2011.

The $50 million settlement will serve as the ‘full and final resolution of any and all claims by the United States’ against Scheinberg, who is the son of PokerStars founder Isai Scheinberg. The sum ‘shall be forfeited as a full and final settlement in lieu of the PokerStars distributions that the government alleges are subject to forfeiture’.

“This consent order of forfeiture shall in no way be deemed an admission of any wrongdoing, culpability, liability or guilt on behalf of Mark Scheinberg or any of his respective agents or employees, past and present,” read the settlement.

“This consent order of forfeiture is separate from the PokerStars settlement and the forfeited funds shall not be credited toward the PokerStars settlement.”

Tags: PokerStars, Black Friday, DoJ