PokerStars CEO Reaches Settlement Deal with DoJ
Mark Scheinberg, the PokerStars Chief Executive Officer, has come to an agreement with the United States Department of Justice in which he has agreed to pay the sum of US$50 million in order to settle the dispute against him that is related to 'Black Friday' in 2011. Mark Scheinberg is the son of the founder of PokerStars, Isai Scheinberg.
Mark Scheinberg Not On List of PokerStars Indictments
While there were a number of defendants, Mark Scheinberg was not a defendant, however, questions had arisen regarding claims from the prosecutors that he may have been involved in illegal money-laundering. The prosecutors have said that Scheinberg has received contributions from PokerStars, some directly, and some indirectly.
While Isai Scheinberg was listed along with 10 other people who had received indictments against them in 2011, Mark Scheinberg was not one of those who had been indicted. Mark Scheinberg took over at the helm of the company as part of the changes that took place once the United States Department of Justice had reached a settlement with PokerStars.
In the deal between PokerStars and the Department of Justice that took place in July, PokerStars has not entered any admission of wrongdoing. PokerStars is now free to try and obtain legal online poker gaming licenses in the United States, in those states that will now offer legal U.S. online poker.
PokerStars CEO's Settlement Agreement
After Scheinberg came to the agreement to settle for US$50 million, in exchange for this being the 'full and final resolution' of claims against him from the United States with regards to PokerStars, a statement was released. The statement read as follows: "This consent order of forfeiture shall in no way be deemed an admission of any wrongdoing, culpability, liability or guilt on behalf of Mark Scheinberg or any of his respective agents or employees, past and present."
The statement further noted: "This consent order of forfeiture is separate from the PokerStars settlement and the forfeited funds shall not be credited toward the PokerStars settlement." In order to return to business, and before purchasing Full Tilt Poker, PokerStars had agreed to pay the United States Department of Justice, the sum of US$731 million. The US$50 million that is being paid by Mark Scheinberg, is not a part of the far greater sum that PokerStars owes the United States Department of Justice.
The PokerStars CEO has reached a settlement, while there are others who are still sitting under the shadow of Black Friday, Mark Scheinberg is no longer one of them.
