The Lederer Files – His Story – Part Seven

documents flying

Pokernews has released the final installment of their exclusive interview with Howard Lederer concerning everything that went on at Full Tilt before, during and after the Black Friday Crisis.

Part seven is the last part of an intriguing interview that has not only given us an inside view but also a perspective on just what must have been going on inside the halls of Full Tilt Poker during probably the most controversial story in poker history.

Howerd Lederer took on this interview to try and explain Full Tilts side of the story whilst also apologise to the players and the poker community in general.

Lederer was first quizzed about how they planned to move on after everything that had happened with Lederer claiming that they were trying to find new owners for FTP which actually proved to be a very stressful experience for him and the rest of the directors. He put the stress down to the complexities that would be involved coupled with the whole cost of the process.


PokerStars had always shown an interest and they were in fact interested again last summer, yet they backed off after learning about the DOJ’s litigation and what they would be expecting with regards to the dollars and cents.

Lederer himself was full of praise for the poker site that was once his main rival with regards to online poker. He stated that it would be easy for a scrupulous company to have used excuses such as due diligence to acquire information from Full Tilt, yet PokerStars always acted professional and in a very honorable way.

When asked about what might have changed to bring PokerStars back into the mix earlier in the year he states that he is not entirely sure, however it did come at a time when Full Tilt were literally down to their last ten million and losing $1.5 every month. This meant that they literally had until August.

Agreement Made!

As it turned out, an agreement had been made between the two companies in late July, which was after quite a long line of false starts and particularly hairy moments. He then stated again his respect for PokerStars for what they have done claiming that it wasn’t purely for money but because they genuinely do care for the poker community in general.

When quizzed as to why all of these negotiations were kept hush hush with no official statements coming from FTP, Lederer claims that everybody involved demanded that everything stays confidential.

There were a number of leaks however and at one point the DOJ even threatened to curtail all discussions if there was in fact just one more leak.

Carrying On In Poker?

He was then asked by the interviewer if he plans to carry on in the game, with at the very least still playing, he quickly pointed to his 30 years playing and said that of course he still plans to play despite of any negative responses he may get from the poker community.

Lederer concluded with “As an owner of Full Tilt Poker, I take full responsibility for what happened. What happened wasn’t right & it caused a lot of pain, a lot of suffering, & in some cases just inconvenience for 3 million customers. That wasn’t right. And for that I am truly sorry”.


“I look very much forward to the reopening of the site under PokerStars’ leadership. I am incredibly thankful for their incredible professionalism in the way they handled the situation. I’m going to be rooting for the company every day.”