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Thread: Important Neteller news

  1. #1
    pawnstar is offline PNW Lurker
    Join Date
    Apr 2006

    Default Important Neteller news

    I don't know how the below item affects us but I am proceeding with caution.------------"The American authorities have swooped on the founding shareholders of NETeller, the company which specialises in money transfers between online gambling sites and players.Stephen Lawrence and John Lefebvre, both former directors of the firm, were detained in the US yesterday, while travelling separately.NETeller called for a suspension of trading in its shares as it revealed the shock development this morning.The online payment group said neither Mr Lawrence nor Mr Lefebvre has any current position with or connection to NETeller, other than as shareholders."

  2. #2
    La Cucaracha is offline PNW Railbird
    Join Date
    Sep 2006

    Default Important Neteller news

    #@$%!Bloody US Govt trying to legislate everything! Don't they know they can't control everybody!
    What's that? You're drawing to a one-outer? Okay, I fold.

  3. #3
    captainpants is offline PNW Railbird
    Join Date
    Apr 2005

    Default Important Neteller news

    they certainly have a strange definition of "freedom" over there
    "Poker isn't played when blinds are 50-100 they are played in the middle to late stages of the tourney" - thkcduckworth.

  4. #4
    Magpie is offline PNW Railbird
    Join Date
    Feb 2006

    Default Important Neteller news

    NETeller Founders Arrested at Their Homes More information was beginning to surface during the late night hours regarding the arrests of two NETeller founders. The company is the biggest third party money processing company catering to the online gambling industry. John LeFevre was reportedly taken into custody at his Malibu home during the early morning hours of Monday January 15 according to sources close to "Both (founders of NETeller) have houses in the USA," the source disclosed. "That is why they were in the US...they spend a great deal of time there." While a bill to curb some forms of online gambling went into effect this past October, these arrests indicate a more prolonged investigation. LeFevre, a one time acid loving hippie, started the hugely successful company with Steve Lawrence in 1999 but retired in 2002 in Costa Rica. LeFevre loved recounting his days as a flower child and rebel, who did have brushes with the law during his most rebellious years in the 1960's. LeFevre, now in his 50's, shaved his heavy disheveled bush of hair a few years ago. The frolicking fun man eventually settled down and got married. He was once a favorite personality heavily profiled by the website, but in recent years LeFevre has maintained a relatively low profile. Unless government officials are torturing or starving him, he is probably the last person in the world who will back down, though it should be pointed out that our initial sources have stated that LeFevre is yet to be charged with any offense. Steve Lawrence served as Chairman of Neteller until October 13, 2005. "He (Lawrence) resigned and both men have substantial holdings of stock as well," another source disclosed to Monday evening. NETeller is a publicly traded company on the London Stock Exchange. Most of the company's current executives reside in and around the Isle of Man, a crown dependency of Great Britain, right off its coast, which serves as a primary online gambling jurisdiction. The Isle of Man is also home to PokerStars. NETeller executives were expected to issue a statement regarding the arrests some time after midnight Eastern Time. Likewise, online gamblers who have become dependent on NETeller, fear for the worst. NETeller was one of the few publicly traded internet gambling related firms to continue doing business with US citizens. Details of the arrest were not known at press time late Monday evening. Individual US states have frowned upon NETeller and other similar third party money transaction companies in the past. Maryland, for example, requires that banks be physically based in the state in order to conduct business with its citizens. NETeller voluntarily stopped accepting customers from that state a few years ago. In 2002, New York State's then Attorney General, Eliot Spitzer, went on a rampage against PayPal, forcing that third party money transaction firm to stop taking business from New York citizens of the purposes of online gambling. Spitzer also demanded banks in the state do the same. Then there is Louisiana State, which seems more concerned with going after online gambling company operators than cleaning up the mess left by Hurricane Katrina. It has issued numerous arrests warrants against online gambling executives including a former Sportingbet non-executive chairperson who was arrested during a routine check at New York's JFK airport this past summer. He was later released after New York State cited inadequate laws to have him extradited to Louisiana. Last July, now defunct BetonSports CEO David Carruthers, was arrested and charged while changing flights in the United States on various charges including money laundering and tax evasion. He has plead "Not Guilty" and intends to fight the case. Carruthers is a British national who remains under house arrest outside St. Louis, Missouri. Last week PinnacleSports stunned an already shell-shocked industry by announcing it would part ways with US customers effective immediately this past Thursday. The US made up an estimated 60% of its customer base. Pinnacle claimed that the recent legal environment in the States made it difficult to process transactions, though other online gambling companies have suggested it is no more difficult than prior to the passing into law a measure that would curb some forms of internet gambling by holding banking institutions responsible. ---- Christopher Costigan, Should we move any funds we have in Neteller?

  5. #5
    joethenuts22nd is offline PNW Grinder
    Join Date
    Feb 2005

    Default Important Neteller news

    TO all you on-line players who did not listen to me a few months ago ,its simple do not keep too much money in your poker acounts and poker banks ala netteller.your money could be still safe with netteller but as you now know the company has stopped trading there shares and might need all of your funds to fight there case.

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