Update 2/22: Judge Wood has signed off on Ferguson’s settlement.
Original story below:
Per Ian Imrich on Twitter:
Note the “court approval” above. A judge must still sign off on the settlement, although the word is a signature is expected.
Highlights of settlement
- Ferguson to hand over at least $2,350,000, along with “all funds in the Ferguson Account (the “Ferguson Account Funds”).” I don’t know what the figure in those accounts would be. At one point the government was seeking $42mm from Ferguson.
- Ferguson’s surrendered funds will contribute to player repayment pool.
- Ferguson agrees to not work in unlicensed online gambling or online poker.
- “This Stipulation and Order of Settlement shall in no way be deemed an admission of culpability, liability, or guilt on behalf of Ferguson. Further, this Stipulation and Order of Settlement shall in no way constitute any reflection upon the merits of the claims and defenses asserted respectively by the United States and Ferguson.”
- “Ferguson contends that he was unaware of any wrongful activity at Full Tilt or that the company had become unable to satisfy its player account liabilities”
For reference, here are some details on Lederer’s similar settlement in December of 2012..
Also (random): Ferguson has an extraordinarily neat signature:
Here’s the full text of the Ferguson settlement agreement (PDF, text-searchable). Or, read below if your device supports it.