Anger Over The Howard Lederer Settlement


As we reported yesterday, Howard Lederer and the DOJ have agreed on a settlement that now ends his civil case and puts to bed his particular case with his involvement with the former Full Tilt Poker. However, as we predicted, this settlement has been far from enough with regards to poker players the world over. In fact many players are completely incensed at what seems to be almost a complete let off for Lederer.

His settlement with the DoJ has drawn the line with everything to do with what went wrong at FTP, with the settlement allowing him to walk without accepting or admitting any kind of wrongdoing. This has led to many players feeling angry at the fact that he seemingly got off very easy.

He may have had to forfeit such things as his 1965 Shelby Cobra, some funds from a select number of off shore bank accounts and a few of his properties that he barely uses. On top of that he has had to pay off a penalty that totals around $1.25 million in cash, yet players are enraged that this seems nowhere near the supposed $42 million that he obtained illegally.

Reports have suggested that the total he will have to forfeit or pay back is in a region between just $2.5 and $10 million.

Even though the full amount is still not clear, it is looking increasingly likely that Lederer has managed to get away from this extremely easily. On some of the biggest online poker forums, players are extremely enraged, which seemed to be emphasized with the big party he threw the day the settlement was made.

The DoJ has been busy cutting soft deals with first Rafe Furst and now Lederer with two more to go in Chris Ferguson and Ray Bitar. However, this has all been done whilst the US based players are still yet to be repaid the money that is owed to them. Many are now starting to think that they will not even be reimbursed the full amount from the DoJ.

It seems extremely soft justice; however that is the world all over right now. Deals are made to keep the cases flowing through, due to the busy nature of the judicial system. It is not right, I don’t think Howard Lederer will ever be allowed to believe that he did nothing wrong, especially from the poker players of this world.

Though the case is over with now, we doubt this will be the last news report we will be writing on this particular subject.