Rafe Furst (pictured) one of the original “Tilt Boys,” reached a settlement with the Southern District of New York according to a Stipulation and Order of Settlement filed on Wednesday. All parties actually agreed to the settlement about two weeks ago, based on when their signatures were dated, but Judge Kimba M. Wood did not sign the document until this past Tuesday.

In the deal, Furst agreed to turn over monies that the U.S. Government had been coming after since September 2011, when a warrant was issued for the seizure of assetsbelonging to Full Tilt Poker’s Ray Bitar, Chris Ferguson, and Howard Lederer, along with Furst. The assets included an account held at Pictet & Co. Bankers in Switzerland in the name of Telamonian Ajax Trust. The Government claimed that Furst had received at least $11,706,323.96 from Full Tilt.

All monies in the Trust account will be forfeited to the Government, pursuant to the settlement, although Furst officially admits no liability for any of Full Tilt Poker’s wrongdoings. Furst will also be surrendering another $150,000.

Additionally, Furst is not permitted to work for any online gaming company in the United States or earn money indirectly from online gaming. The settlement does stipulate, however, that “if and when a change in applicable law takes place making the offering of such gambling lawful in the United States,” Furst may re-enter the industry, but only after he “obtains appropriate authorization from all relevant Governmental regulatory authorities.”

Once the United States receives the assets from Furst, the Government will dismiss with prejudice the in rem forfeiture action against Furst’s property as well as the civil money laundering claims against him. That is, the Government will not be able to file another case on that same claim again. In simple terms, once the money is paid, Furst will be square with the U.S. Government.

When the seizure warrant was issued in September, the Black Friday civil complaint against Full Tilt, PokerStars, and Absolute Poker was also amended to include Furst, Bitar, Ferguson, and Lederer(pictured). Furst was the only one of the four at the time to speak out about it, posting an open letter on his website, The Emergent Fool. He said he was unable to comment on specifics of the case, but stated, “From a moral, personal, and interpersonal perspective, I feel I’ve got nothing to hide.”

He added, “It sucks to have to endure the character assassination and potshots being taken at me in the media and social networks without being able to defend myself. Privately, though, I have received incredible support from many of you and I can’t tell you how much it means to me. May you never have to endure something like this, but if you do, I hope you have friends as good as mine.”

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