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The press statement issued by the SDNY Attorney’s Office noted some of these occurrences, though it interestingly also mentioned the $50 million settlement paid in March 2013 by Mark Scheinberg. That repayment (“remission”) program was later expanded to include former customers of the Absolute Poker sites, which also quickly failed after Black Friday. The huge 2012 settlement also created a vast fund for the repayment of Full Tilt’s US-based customers. It also included funds for all the existing assets of then-rival site Full Tilt Poker, which had shuttered following the Black Friday crackdown PokerStars reopened Full Tilt (as Full Tilt Gaming) on an international basis much later while ensuring all international FTP balances were paid. The huge $547 million settlement covered much more than PokerStars’ own corporate fine. Scheinberg also played a key role in negotiating a settlement with US authorities that resolved PokerStars’ federal liabilities to the US as claimed in another facet of the Black Friday case. A sentencing hearing has yet to be scheduled, and in the meantime, he will remain on an extended house arrest, effectively little more severe than the shelter-in-place order currently affecting millions of New York City residents. Scheinberg’s guilty plea could result in a sentence of up to five years in prison, though it is unlikely he will be sentenced to anything more than time served. He also surrendered his passport and was restricted to limited movement within the US, living temporarily in an upscale Manhattan hotel.
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He was arraigned that same day, then immediately released on a million-dollar bail bond. He surrendered to Swiss authorities on June 7, 2019, and then was extradited to the US on January 17, 2020. The 73-year-old Scheinberg had been reported to be negotiating with US officials regarding the long-standing charges for several years. As Isai Scheinberg’s guilty plea today shows, the passage of time will not undermine this Office’s commitment to holding accountable individuals who violate U.S. “Ten years ago, this Office charged 11 defendants who operated, or provided fraudulent payment processing services to, three of the largest online poker companies then operating in the United States – PokerStars, Full Tilt Poker, and Absolute Poker – with operating illegal gambling businesses and other crimes. Officials of those other sites were also among those indicted, along with a handful of independent “third party” payment processors. Besides Stars, those sites included Full Tilt Poker, Absolute Poker, which also included UB.com (earlier known as UltimateBet). However, the senior Scheinberg and 10 other individuals were charged in the sweeping 2011 indictment that also forced the largest US-facing international poker sites to abandon the American market. The Israeli-Canadian national established PokerStars in 2002 along with his son, Mark Scheinberg, with the site becoming the world’s largest in 2007, a title it still holds today. Scheinberg becomes the last of 11 individual defendants initially charged in the “Black Friday” indictment of April 2011 to reach resolution with US authorities. Cave, with Judge Cave accepting Scheinberg’s guilty plea. Scheinberg changed his initial not-guilty plea in a hearing held before US Magistrate Judge Sarah L. The US Attorney’s Office for the Southern District of New York has announced that PokerStars co-founder Isai Scheinberg has pled guilty to a single charge of operating an illegal gambling business in violation of US law.