PokerStars Pays $731M, Acquires Full Tilt In DOJ Settlement

Law360, New York (July 31, 2012, 6:17 PM EDT) -- PokerStars will pay a total of $731 million and absorb fellow online gaming site Full Tilt Poker in order to settle the government's wide-ranging fraud allegations against the poker site, the company said on Tuesday.

The settlement comes the same day as Nelson Burtnick, the head payment processor at Full Tilt, pled not guilty to criminal fraud charges related to wide-ranging allegations that various of the websites' managers lied to U.S. banks about the nature of financial transactions allegedly organized as an illegal means to surmount online gaming restrictions.

PokerStars said in a press release that the company has agreed to...

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