Full Tilt Poker Scandal
On September 20, 2011, the U.S. Department of Justice filed a motion to amend a civil complaint, alleging that Lederer, Chris Ferguson and two other directors of the poker website Full Tilt Poker were running a Ponzi scheme that paid out $444 million of customer money to themselves and the firm's owners. The government is seeking a return of $42 million that Lederer allegedly took from Full Tilt's customers. The Department of Justice on September 19, 2011, issued a warrant in rem for the seizure of certain banks' accounts owned by Lederer as part of the DOJ's continued actions against Full Tilt. In a September 8, 2012 interview with poker journalist Matthew Parvis, Lederer "takes great offense" to the government's Ponzi scheme characterization.
Read more about this topic: Howard Lederer
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