[MaxDemo]

published: about 7 hours ago
NETELLER Postpones Distribution Plan

Investigation Won't Be Wrapped up Tomorrow
NETELLER today announced that it’s still in discussions with the U.S. Attorney’s Office for the purpose of resolving the investigation, and warned its investors and customers that the investigation won’t be closed by tomorrow’s previously stated July 13 target date that it hoped to meet.
This means that U.S. customers who still have dollars locked up because of this investigation will have to wait a little longer. NETELLER has promised to return the money that was in transit to thousands of American customers in January when NETELLER’s cofounders were arrested and charged with gambling-related crimes. It gave July 13 as the date it would reveal its distribution plan and give its customers a timeline.
In a press release, the company said: “The Company remains in discussions with the USAO for the purpose of resolving the investigation and has advised the USAO that it will use its best efforts to resolve the investigation on or soon after 13 July 2007.
“However, the Company believes that these and other recent developments will likely delay its efforts to resolve the investigation by a short period. A further update will be given on 13 July 2007.”

http://www.cardplayer.com/poker-news/article/9237

[MaxDemo]

NETeller delisted from FTSE indexes,extends date to return $55 million to US customer

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Written by Thomas Jensen
Thursday, 12 July 2007


It looks like the United States customers of e-wallet NETeller will have to wait longer than originally announced to receive their share of $55 million dollars owed by the company.

“The Company believes that these and other recent developments will likely delay its efforts to resolve the investigation by a short period. A further update will be given on 13 July 2007,” stated the press release issued by the NETeller board of directors today.

The online payment company has been working with the federal authorities and two pieces of the overall puzzle seem to be resolved. Both Stephen Lawrence and John Lefebvre have pleaded guilty to conspiracy charges for their roles as directors of the company prior to UIGEA being signed into law back in October 2006. Point-Spreads.com believes that both men have decided to plead out in order to expedite the investigation.

In other news, shareholders of the AIM listed internet gambling payment processor will be disappointed to find out that the company will be removed from the FTSE AIM All-Share index, FTSE AIM 100 index and FTSE AIM UK 50 effective July 16th, 2007. Shares of the company have been suspended since January 16th, 2007 after former founders Lawrence and Lefebvre were arrested.

The board of directors for NETeller released the following statement:



NETELLER Plc (LSE: NLR), the independent global online payments business, today issued the following statement regarding the announcement on Tuesday, 10 July 2007 by the United States Attorney's Office for the Southern District of New York (USAO) regarding Mr. John Lefebvre, one of the Company’s former directors and founder shareholders.

According to the USAO announcement, Mr. Lefebvre has pleaded guilty to a charge of conspiracy in connection with his role in NETELLER’s prior involvement in handling financial transactions between gambling customers in the United States and offshore internet gambling businesses. In relation to this charge, Mr Lefebvre also admitted to allegations requiring him to forfeit at least US$ 100 million jointly with Mr. Stephen Lawrence, who pleaded guilty to a similar charge on 29 June 2007.

Other than as shareholders, neither Mr. Lawrence nor Mr. Lefebvre has any current position with or connection to NETELLER.

http://www.point-spreads.com/content/view/2224/2/


As stated in the Company’s announcement of 2 July 2007, NETELLER is continuing to cooperate with the investigation being conducted by the USAO, under the advice of its legal advisers and in accordance with court orders in the Isle of Man. The Company remains in discussions with the USAO for the purpose of resolving the investigation and has advised the USAO that it will use its best efforts to resolve the investigation on or soon after 13 July 2007. However, the Company believes that these and other recent developments will likely delay its efforts to resolve the investigation by a short period. A further update will be given on 13 July 2007.

The Company’s ordinary shares will continue to be suspended from trading. Further information will be announced as and when it becomes available.

[MaxDemo]

Thursday, July 12, 2007
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NETeller money release delayed


Isaac Haxton is one of the many U.S. customers who will be disappointed in delays in getting their money from NETeller.
By Sarah Polson
Friday was supposed to be the big day at NETeller for U.S. customers - the day the investigation of NETeller would be concluded and they would find out when they're getting their money back. Unfortunately, it looks like they'll be waiting a little bit longer.

The investigation is still taking place, with NETeller's cooperation, and recently John Lefebvre, founder of the company, joined co-founder Stephen Lawrence in pleading guilty to charges of conspiracy for transferring funds for the purpose of illegal online gambling.
"The company believes that these and other recent developments will likely delay its efforts to resolve the investigation by a short period," stated a press release from the NETeller board of directors today. "A further update will be given on July 13, 2007."
In the meantime, millions of dollars slated for U.S. customers is still unavailable to online poker players and other gamblers who won it online.
Isaac Haxton, who came in second at the WPT Caribbean Adventure in January 2007, told PokerListings.com he has nearly $800,000 of his winnings from that live tournament frozen in NETeller because it was processed through PokerStars.com.
There's also a group of online poker players called the NETeller Customer Coalition who have a total of no less than $500,000 locked up in the e-wallet service as well.
Online gambling customers won't be the only ones disappointed by NETeller news this week either. Shareholders won't be happy to find out the company's stock is being delisted from AIM.
Trade has been suspended on NETeller shares since January 16, 2007, and now it will be removed from the FTSE AIM All-Share index, FTSE AIM 100 index and FTSE AIM U.K. 50 effective July 16.

http://www.pokerlistings.com/netelle...-delayed-15728

[JBC77]

!@#$ Neteller....bunch of plead out snitches.

[20Four7]

If the US gov't didn't get involved you would have had your money 6 months ago. Don't blame them for your woes. I used neteller up till the time they canned canadians and got every dime from them.

[ion]

Neteller is certainly to blame. I understand them not being able to send money to US customers. But no one forces them to not allow transfers from US customers to (gambling) merchants or to other non US customers. Canadians were warned in advance so they were able to move their funds wherever they wanted. US customers were not. The US government can only be blamed for making Neteller unusable for US customers. The blame for Neteller not paying goes only to Neteller.

In their announcements they keep mentioning about an "investigation."
It is not clear to me whether it's Neteller's or USAO's investigation. And what's the investigation about?

[Lenny7]

If the US gov't didn't get involved you would have had your money 6 months ago. Don't blame them for your woes. I used neteller up till the time they canned canadians and got every dime from them.

Well idiot, they gave you a deadline to pull your money out, didnt they?
They didnt give their US customers any notice!

[tacomax]

Well idiot, they gave you a deadline to pull your money out, didnt they?
They didnt give their US customers any notice!

Is that the fault of Neteller (who payed out to Canadian cumstomers and is still paying out to all other non-North American customers) or the fault of the US Government. Think about it and let me know.

[isetcap]

This is 100% the US government's fault.

Neteller more than likely stopped p2p transfers and pulled out of Canada at the US government's insistance.

Sean

100% = "More than likely" ???

Neteller pushed its luck for too long and got burned. When that happens you can't just blame everything on bad luck. Maybe now they will tighten up their operation instead of using the Wild Wild West approach to transactional services.