Guiltless Ferguson Files to Settle with SDNY

Posted on February 20th, 2013 by Todd Wilkins

Chris FergusonChris “Jesus” Fergusson has filed to settle the DoJ´s civil action against him provided that he does not have to admit culpability, liability or guilt.

Lawyers representing former Full Tilt Poker director Chris Ferguson announced yesterday that Ferguson has filed a “Stipulation and Order of Settlement” to resolve the pending civil action against him by the United States Court Southern District of New York (SDNY).

A Tweet sent out by Ian J Imrich – former Full Tilt Poker legal counsel – read

Chris Ferguson reaches #iPoker civil forfeiture settlement with #SDNY and anticipates court approval soon.

Court approval from the Hon. Judge Kimba M. Wood is anticipated to be a formality.

Details of the Stipulation and Order of Settlement

Among the details of the settlement, Ferguson has agreed to transfer the contents of the Ferguson Accounts Funds (value unknown) to the T.S. Marshall Service, hand over a further $2.35 million in additional funds and forfeit all dividends owed to him by Full Tilt Poker.

Ferguson has also agreed not work for any unlicensed gaming or internet poker company despite contending that he was unaware of any wrongful activity at Full Tilt or that the online poke site was unable to cover the liabilities owed to FTP players.

Finally, the Stipulation and Order of Settlement states that Ferguson´s willingness to settle the claim should in no way be deemed an admission of culpability, liability or guilt and that Ferguson does not acknowledge the merit of the claims made against him by the Department of Justice.

Another One Gets Off Light

The news is unlikely to be received favorably by the poker community who reacted angrily to Rafe Furst´s nothing to hide statement after the action against him was settled last November, and following  Howard Lederer´s effective wrist slap in December 2012.

At one point, the Department of Justice was seeking $42 million of Ferguson money, even though the former director of Full Tilt Poker laid claims to more than $98 million of government seized money in FTP-owned shell companies Vantage and Kolyma.

Although it is not known how much of Ferguson´s assets were tucked away in the “Ferguson Account Funds”, it would appear that the total value of the settlement is way below what the former director took from the company and the many players who still wait for the return of their Full Tilt Poker bankrolls.

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