To resolve the US government’s forfeiture demands connected to the settlement of last year’s money laundering lawsuit, Mark Scheinberg has agreed to pay $50m.
According to an order filed in the US District Court in New York, the chairman of Isle of Man-based PokerStars had continued to receive distributions for PokerStars that were subject to forfeiture.
The order stated that Scheinberg agreed to the settlement as he “wishes to fully and finally resolve this matter.”
PokerStars had a civil bank fraud money-laundering suit filed against it, along with Full Tilt Poker and Absolute Poker, by the US Department of Justice on April 15 2011, a day dubbed Black Friday. The lawsuit claimed the companies had used fraudulent means to by-pass federal law and deceive banks into processing payments for them.
PokerStars paid out $731m to settle the lawsuit; this further $50m comes from Mark Scheinberg personally. Scheinberg replaced his father as chairman after Isai Scheinberg had criminal charges brought against him as part of the original lawsuit.
