PokerStars CEO Agrees To Forfeit $50M To US Government

Law360, New York (June 12, 2013, 2:07 PM EDT) -- PokerStars CEO Mark Scheinberg agreed Tuesday to pay $50 million to head off forfeiture claims brought by the U.S. government as part of its widespread fraud investigation against the poker site, according to a consent order filed in New York federal court.

Scheinberg will pay the sum to avoid any civil forfeiture allegations brought by the government in its investigation alleging that PokerStars management lied to U.S. banks about the nature of financial transactions, which the company allegedly organized to surmount online gaming restrictions.

“Said funds...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Unites States v. Pokerstars, et al


Case Number

1:11-cv-02564

Court

New York Southern

Nature of Suit

Forfeit/Penalty: Other

Judge

Kimba M. Wood

Date Filed

April 14, 2011

Law Firms

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.