Howard Lederer Settles With U.S. Government

Professional poker player and former Full Tilt Poker Executive Howard Lederer has settled his civil case with the U.S. government for his role in the Full Tilt Poker legal proceedings.

As part of the settlement Lederer will forfeit property, vehicles, and money in personal bank accounts. It was reported earlier this year that Lederer's liability in the civil case was roughly $42.5 million.

Among the property being given up by the poker pro is two Las Vegas homes, a vintage car, and $1.25 million in cash in addition to the money in the bank accounts. While the price is heavy, Lederer will be able to maintain his innocence, as the agreement stipulates that he will not have to admit any wrongdoing. He will also be barred from working with any internet gambling businesses in the United States until the act is legalized.

Lederer was among several people named in the federal government's Black Friday legal action in 2011, which brought down Full Tilt and Absolute Poker and put severe strains on other internet wagering sites throughout the world.