Rafe Furst became the first of the four ownership figures associated with Tiltware to reach a settlement with the Department of Justice on Black Friday-related charges.
In documents filed Wednesday with the United States District Court for the Southern District of New York, Furst agreed to forfeit any claim to the assets related to the Telamonian Ajax Trust. That trust is allegedly where Furst received payments related to his ownership of Tiltware, though the amount of money in that account that was forfeited was not specifically mentioned. Furst will also pay a fine of $150,000, though he will not admit any wrongdoing.
It is alleged by Furst that he held a minority stake of ownership in Full Tilt Poker and had little to no control over the daily operations of the company. In the eight page document, Furst maintains that ‘he was unaware of any wrongful activity at Full Tilt or that the company had become unable to satisfy its player account liabilities.’ The DOJ was originally seeking $11,706,323.96 in a civil money laundering penalty judgement against Furst, with that amount allegedly representing the sum of criminal proceeds transferred to Furst from Full Tilt.
Ray Bitar, Chris Ferguson and Howard Lederer are each still being targeted for over $40 million in forfeitures. The unknown amount seized from Furst will be placed with funds that will eventually be available for the reimbursement for US players when the process is set up. The agreement was in place for at least two weeks before it was filed, as Furst provided his signature and consent on November 12th.
The civil charges are officially settled with Furst, who had the lowest civil judgement of the four ownership figures in Tiltware. The US Attorney’s Office for the SDNY agreed that it will not bring any other civil claims against Furst relating to either the Black Friday charges or the Amended Complaint filed later in 2011 based on the facts alleged in either.
For the complete eight page document, click here.