Lederer Gives Up Three Properties, Several Bank Accounts and a 1965 Shelby Cobra

[DRK Star]

http://www.cardplayer.com/poker-news...int-settlement




Howard Lederer Forfeits Millions As Part Of DOJ Civil Complaint Settlement
Lederer Gives Up Three Properties, Several Bank Accounts and a 1965 Shelby Cobra
by Julio Rodriguez | Published: Dec 19, 2012


Just weeks after Rafe Furst settled with the U.S. Department of Justice, fellow former Full Tilt board member Howard Lederer has done the same.

In exchange for the opportunity to admit to no wrongdoing in the civil complaint that stemmed from Black Friday, Lederer will forfeit more than $1.25 million and several pieces of real estate property and vehicles.

Lederer, who along with Furst, Chris Ferguson and Ray Bitar, founded Full Tilt Poker, also agreed to not work for any online gambling site until the U.S. has legalized and regulated the industry.

The U.S. Attorney for the Southern District of New York originally sought a total of $42.5 million from Lederer in the civil complaint, but Lederer was able to negotiate a much smaller figure in the settlement.

In addition to a 401k account in his name and a Lloyds offshore bank account in the Isle of Man, Lederer will also pay $1.25 million in funds over the next three years. He was also forced to forfeit his 1965 Shelby Cobra Roadster, a Las Vegas real estate property, as well as the proceeds from the sale of two other homes.

[Smotorious]

You're a foul one, Mr. Grinch.
You're a nasty, wasty skunk.
Your heart is full of unwashed socks
Your soul is full of gunk.
Mr. Grinch.

[Deal]

The Diamond Flush "cliffs":

http://diamondflushpoker.com/2012/12...sion-and-more/

[SrslySirius]

I just can't read anything DF writes anymore. That Lederer Files series was such a disaster.

Thanks for cliffs.

[SpewArtist]

I assume this means no time for Howard?

[BeerAndPoker]

[simpdog]

so probably ~8-10 mill to get out of this? Pretty cheap IMO for what he was a part of.

[Rob999]

He still has to wake up next to this.....http://cache4.asset-cache.net/xc/106...0A760B0D811297

[zealanddonk]

In addition to a 401k account in his name and a Lloyds offshore bank account in the Isle of Man, Lederer will also pay $1.25 million in funds over the next three years. He was also forced to forfeit his 1965 Shelby Cobra Roadster, a Las Vegas real estate property, as well as the proceeds from the sale of two other homes.

3 years to come up with the cash seems pretty easy for a man of his dubious talents.

[tommyt]

he should have had to give up his stink hole virginity.