A lawsuit against former executives of the once powerful Full Tilt online poker site appears to have been settled, according to various reports.
Former directors and poker pros Howard Lederer and Chris Ferguson were named in the lawsuit, which was brought by former players at the site in 2012. Full Tilt was one of the sites targeted by the U.S. department of Justice in 2011 in what has been termed Black Friday. The site was charged with money laundering, fraud, and breach of the US online gambling regulations.
That led to multiple lawsuits filed against former Full Tilt Poker directors Rafe Furst, Ray Bitar, and Ferguson and Lederer. The suits alleged that the four officials paid themselves the approximate amount of $450 million.
The player’s suit alleged they were defrauded out of over $300 million in a Ponzi-scheme run by the directors, according to Casino News Daily.
According to reports, the lawsuit filed by former players Todd Terry, Steve Segal, Robin Hougdahl, and Nick Hammer entered discussions last year with a settlement agreed upon in late 2015 and approved in January.
There are also reports that Bitar has been disqualified by Ireland’s Office of the Director of Corporate Enforcement to hold any corporate role within the country’s borders up until July 26, 2025, according to Casino News Daily. Full Tilt had been based in Ireland at the time of the DOJ’s action.
