It has been announced today that Mark Scheinberg, current CEO of PokerStars and son of PokerStars founder Isai, has entered into a final deal with the District Court for the Southern District of New York.
The deal states that Scheinberg will forfeit $50 Million as final restitution to the US Government for the alleged illegal action of PokerStars. This deal doesn’t have Scheinberg admitting any wrong doing, and in fact explicitly states that “This Consent order of Forfeiture shall in no way be deemed to be an admission of wrongdoing, culpability, liability, or guilt on behalf of Mark Scheinberg or any of his respective agents or employees, past or present.”
The Department of justice had been seeking the forfeiture of assets belonging to PokerStars owned and related organisations under legal provisions that allow property seizures for those involved in an illegal gambling business, as well as those involved in Money laundering and bank fraud.
This deal may remove some of the issues that PokerStars has been encountering in attempting to acquire a Gaming licence in New Jersey while attempting to buy the Atlantic Club Casino in Atlantic City.