Pokerstars Head Signs Deal With US: Forfeits Money

The head of a global internet poker giant has signed a deal with the United States Department of Justice, agreeing to give up $50 million to the government while getting the ability to claim that the company did nothing wrong.

Rational Group Chief Executive Mark Scheinberg settled the case, which was tied to a federal indictment for money laundering that Rational settled last year. Rational currently oversees two of the largest online poker firms in the world: Full Tilt Poker and PokerStars.

The money directly forfeited by Scheinberg is in addition to the $731 million that the firm paid out to the government last year in order to settle the indictments filed against PokerStars and Full Tilt Poker in 2011. As part of that deal, PokerStars absorbed Full Tilt and agreed to pay out $547 million to help reimburse US players who had their winnings seized in the indictment.

No official quotes by Scheinberg were available as of press time.

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