PokerStars CEO Scheinberg in $50m DOJ settlement
"Full and final" settlement states it is not an admission of wrongdoing by Scheinberg
PokerStars CEO Mark Scheinberg has agreed to forfeit the sum of $50m to the US Department of Justice in a “full and final” settlement of the company’s operations in the US after the Unlawful Internet Gambling Enforcement Act was introduced in 2006.
A statement on the DoJ’s website confirmed the forfeiture is in “no way” an admission of any “wrongdoing, culpability, liability, or guilt” on behalf of Scheinberg or Stars employees, past and present.
PokerStars paid a $731m settlement fee to the DoJ last year ahead of its takeover of Full Tilt Poker, though the DoJ noted that Scheinberg’s personal settlement “will not be credited” towards this sum.
PokerStars was charged in a civil complaint relating to the use of fraudulent methods to process online gambling payments by the US Department of Justice.
The settlement is aimed at protecting the assets of Scheinberg who is an owner and director of PokerStars, according to a company spokesman.
An additional criminal complaint named a number of executives at PokerStars, Full Tilt Poker and Absolute Poker regarding money laundering and fraud charges, but Mark Scheinberg was not one of those named.
PokerStars spokesman Eric Hollreiser told eGaming Review: “Mark Scheinberg, the CEO of PokerStars, has agreed to forfeit USD $50 million to the US Government. This forfeiture settles potential claims against Mark’s assets based on the allegations contained in the April 15th 2011 US Government complaint against PokerStars.
“The agreement is not in response to any action that had been brought against Mark and contains no admission of wrongdoing, culpability or guilt on his behalf.”