- Unspecified amount, in addition to $2.35m, will be forfeited by Ferguson, who agrees not to work in any unlicensed online gambling in the future.
- Ferguson reasserts his belief that the actions of FTP in the US were legal.
- Deal is now expected to be signed by Judge Wood.
Chris Ferguson, a founding partner and board member of the controlling entity behind Full Tilt Poker, and the largest individual shareholder of Full Tilt interests, has announced a tentative settlement with the Department of Justice in the civil case regarding Ferguson’s involvement with FTP and its former online poker services to US-based players.
The exact value of the settlement agreed to between Ferguson and the DOJ, which was was filed Tuesday before presiding federal Judge Kimba H. Wood, has not been released, but includes the unnamed contents of the primary owner-distribution account controlled by Ferguson (a Citibank account referred to as the “Ferguson Account”), and an additional $2.35 million due within 30 days.
The deal is expected to be approved by Wood. The structure of the settlement, with parts both known and unknown, is similar to the deal struck between the DOJ and fellow FTP board member Howard Lederer in 2012.
The Department of Justice had originally sought more than $40m each in its civil proceedings against Ferguson and Lederer, neither of whom was among the 11 defendants charged criminally in connection with the April, 2011 “Black Friday” crackdown.
In agreeing to the deal, Ferguson, popularly known as “Jesus” among poker players and fans, admitted no wrongdoing, reasserted his belief that the actions of Full Tilt Poker within the US were legal, and asserted his personal forgiveness of approximately $14 million in ownership dividends due to him from Full Tilt.
