Howard Lederer the Redux: 2+2 Pokercast Interview

Posted by Steve Ruddock on Oct 02, 2012 Posted in Poker News | No Comments »

After PokerNews exclusive interview with Howard Lederer, dubbed “The Lederer Files” and spanning some seven hours of video footage, the former Full Tilt Poker Board of Directors member sat down for another lengthy interview, this time in the audio medium, appearing on the 2+2 PokerCast hosted by Adam Schwartz and Mike Johnson.

The PokerCast hosts had Lederer on the phone for several hours themselves (three by all accounts, although the show is taped beforehand) and were able to follow-up on the topics that Matt Parvis and PokerNews overlooked or didn’t explore in-depth enough for the poker community’s liking.

Before I go into the details and information revealed during his 2+2 PokerCast Interview, it should be pointed out that Lederer had also agreed to do a third interview this weekend (this time with poker blogger DiamondFlush, giving him the trifecta of video, audio, and print) but bailed on the interview at the last minute according to My guess is DiamondFlush will take out her frustrations with this cancellation by picking apart Lederer’s previous statements from the other interviews – something she has so far abstained from doing, most likely because of the carrot Lederer was dangling with an interview.

So what did the PokerCast hosts delve into in their three hours with The Professor? The most persistent line of questioning had to do with Full Tilt poker accepting deposits from non-US players in the aftermath of Black Friday, which caused Lederer to falsely say that the words “Safe and Secure” (in relation to player funds held by the site) were never used [to his knowledge] by the site; something that was quickly refuted with mountains of evidence showing that Full Tilt Poker did in fact claim player funds were “Safe and Secure” post-Black Friday.

All-in-all the poker world had a similar response to this interview as the PokerNews offering, feeling too many questions were left unasked and that the interviewers went too easy on Lederer. Here is a look at some of the information the 2+2 PokerCast hosts managed to get out of Howard Lederer.

Lederer on Distributions:

* According to Lederer distributions were paid monthly and totaled about $10 million each month.

* The Distributions didn’t begin until the company had excess cash.

* Full Tilt Poker did not pay any distributions after April 1, 2011.

Lederer on Full Tilt Poker as a company:

* In 2008 Lederer retired, feeling Full Tilt Poker had grown beyond his capacity.

* Revenue doubled from 2008 on, after Lederer retired, going from $500m to $1b

* Full Tilt CEO Ray Bitar was asked to take no salary or a 90% reduction in salary after Black Friday but refused and continued to draw a $200k/month salary.

You can listen to the entire interview here:


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