Lederer has settled with SDNY- not close to the $42.5mil

[T-Dubs82]

Howard Lederer has apparantly settled with SDNY for far less than the $42.5mil in the original complaint.

http://www.pokernews.com/news/2012/12/howard-lederer-settles-civil-case-with-sdny-14032.htm

 

[detourglr]

So disappointing.. luckily I never had money on full tilt.. However this is certain an injustice..

 

[imafin]

im with you there detourglr,
i had belonged to just about every site offered on the planet except FTP.
for me it was the location of the site being in honduras or nicaragua that was troublesome.

back to the subject matter thou its not uncommon for johnny law to negotiate an agreement much less then the actual value of the offense, its all about the cost of the courts and cost of government to try a case. they have found it easier to keep courts clear, collect some bones and move on to the next case.

.~`~.~`~!. >,)))`>
imafin ... Sandcrabs

 

[the lab man]

im with you there detourglr,
i had belonged to just about every site offered on the planet except FTP.
for me it was the location of the site being in honduras or nicaragua that was troublesome.

back to the subject matter thou its not uncommon for johnny law to negotiate an agreement much less then the actual value of the offense, its all about the cost of the courts and cost of government to try a case. they have found it easier to keep courts clear, collect some bones and move on to the next case.

.~`~.~`~!. >,)))`>
imafin ... Sandcrabs

Full Tilt was based out of the Channel Islands and not honduras or nicaragua. get your facts straight

 

[Traw]

It didnt say in the Article but is he going to do time or does he only have to give up the things he illegally bought?

 

[detourglr]

with me it was how they would do things and really never gave an explanation why they did it. At the time everyone was complaining how strict pokerstars was but they always gave explanations why they did what they did.. So I made my first deposit with pokerstars. And never regretted it..
funny how thigns like that turned out.

im with you there detourglr,
i had belonged to just about every site offered on the planet except FTP.
for me it was the location of the site being in honduras or nicaragua that was troublesome.

back to the subject matter thou its not uncommon for johnny law to negotiate an agreement much less then the actual value of the offense, its all about the cost of the courts and cost of government to try a case. they have found it easier to keep courts clear, collect some bones and move on to the next case.

.~`~.~`~!. >,)))`>
imafin ... Sandcrabs

 

[rhombus]

link on pokerlistings looks alot less than the $42 million he earned
The following assets belonging to Lederer will be forfeited as part of the settlement:

• All funds in the Lloyds 0402 account
• All funds in LPL Financial accounts
• The Shelby Cobra
• The Kingsclear property (originally puchased for $505k in 1995)
• $30,000 USD, representing proceeds traceable to the sale of the Fawn Chase property
• All proceeds traceable to the sale of the Twin Palms property, which will be sold within 120 days for no less than $440,000 (originally purchased for $905k in 2007).
• All other assets in his accounts at Lloyds which (not including the 0402 account) has a US dollar value of $168,000.

Details of the forfeiture and settlement were released today in a document from the Southern District of New York.

 

[T-Dubs82]

for those of you who havent seen it yet, The Lederer Files are worth a look

 

[sylpoker1]

interesting article. sounds like he got away with a lot less than the 43 million they wanted from .but still is good he has to pay some punishment.I did watch 3 of the lederer files too, but i think there were a few more also,, but i got tired of watching him talk after a while.they were interesting a bit too,in a weird way. lol.

 

[LarkMarlow]

This article states

Sources say that Lederer and his wife hosted a Holiday party last night for approximately 150 people at the palatial mansion he managed to keep post settlement.

http://diamondflushpoker.com/2012/12/lederer-settles-with-sdny-keeps-mansion-and-more/

 

[JamMastaJT]

Lederer to pay 2.5m.

http://www.isleofman.com/News/details/51960/former-full-tilt-president-settles-with-us-govt

I dont know how much I believe it though. I was shown this on another forum site, but I have never heard of IsleOfMan.com. Thoughts?

Should we wait for PokerNews or elsewhere to report on this?

 

[legman2]

This may be a few weeks old. But can someone please sum up Howard Leders settlement in a nice post because I just don't understand the 10 pages of the settlement here:Lederer,H.
With that, how is Chris ironing out his situation?

 

[T-Dubs82]

there is already about Lederer and the settlement

 

[legman2]

there is already about Lederer and the settlement

Yeah okay thanks. I mean I already read everything in the thread. I think Rhombus CP recap seem exceptional. I just thought it has more to it. If anyone could chime in about the Subject that would be appreciated.
But it's cool OP.

 

[Jim Lahey]

Lederer got off with a slap on the wrist. A payment processor Chad Elie got sent to prison, and he didnt steal millions from players.

 

[sylpoker1]

I was looking back through this thread tonight,was wondering what was happening with Chris Fergusens situation also?I havent seen or heard much about the settlement of his part in the whole fiasco too.Maybe someone will post a story about him too.I forgot i had 106 dollars left on tilt, which i would never try to bother to get now, either.

 

[Jim Lahey]

I havent heard anything about Ferguson in a while. I would like to see him in prison, but i doubt that will happen.

 

[goodhandluke]

ive hated lederer ever since i seen him show his cards "accidentally" on high stakes poker

 

[luckyhearts]

Lederer not my fav dude, but I will refrain from any libel on account of the ass chewing I got for giving opinions on Ivey.