BEAT!! Neteller Funds Seized by FBI

[chezwiz75]

Neteller Funds Seized by FBI

Neteller has had $55 Million in Funds seized by the FBI. These funds are payment processes in transit to and from the US. Authorities are saying the funds are "frozen".

"As a result of the restrictions placed by third parties, court-ordered seizures, and related legal concerns, the group is currently unable to make payments to U.S. customers," Neteller said in a statement.

"The amount of funds seized by the USAO or otherwise restricted by third parties does not exceed US$55 million (euro42 million)," it added. The FBI has also hired a forensic accounting firm to compile a list of US customers who have had Neteller Transactions. Neteller has apparently said it will co-operate.

Most internet poker players already know the 2 founders were arrested in the US and are each facing 20 year racketeering charges, and US Operations were suspended last month. Neteller lost upwards of 65% of its business due to New Anti Gambling Legislation which was "porked" into law in October of the coattails of the port security bill. George W. Bush signed the bill on October 14th making it US law. Neteller is based in the Isle of Man, traded on the Britain Exchange, and was the favorite payment processor for Internet Poker.

[AllinDan]

ouch. I wouldn't be surprised to see a huge wave of audits some time in the near future.

[keikiwai]

stupid [censored] government... so it ends up being the fed that screws everyone over

let freedom ring!

[goldtoes]

bahahahahahahahhaah

[Terrabon98]

phew thank god i only had 99 dollars in there...

Since the gov't took that money, I think I just won't pay taxes this year

[DONKTARDO]

link to article please

[keikiwai]

[ QUOTE ]
link to article please

[/ QUOTE ]

google it

here's one link - not the best

http://www.pokernews.com/news/2007/2/neteller-confirms-funds-seized.htm

[DING-DONG YO]

everyone chill. This is directed at neteller. The individual player has little to worry about especially if they're low-mid stakes.

However, any high stakers out there who decided not to pay taxes in previous years I would recommend find a CPA and file an amended return to make good post haste. Don't wait for the IRS to come to you.

oh, and there's good threads about this in the zoo and legislation. Some posters there actually know a thing or two about this.

[DONKTARDO]

found it myself

"As a result of the restrictions placed by third parties, court-ordered seizures, and related legal concerns, the Group is currently unable to make payments to US customers. Nevertheless, the Group is in discussions with the USAO to manage an orderly return of funds to US customers. As part of these discussions, it is contemplated that the USAO will engage a forensic accounting firm, at the Group’s expense, to assist in this process and to examine the Group’s financial position. “The return of funds to our US customers is a top priority for NETELLER” said Ron Martin, Group President and CEO. US customers wishing to withdraw funds from their NETELLER e-wallet accounts will experience ongoing delays while these discussions continue, and a further update will be provided by the Group once effective repayment mechanisms are determined.
"

http://www.neteller-group.com/press/en/124.htm

[kabouter]

damn still got some money being transfered my neteller. As soon as I've got all my money I'm putting it somewhere safe... at party poker! /images/graemlins/smile.gif

[DONKTARDO]

[ QUOTE ]
stupid [censored] government... so it ends up being the fed that screws everyone over

let freedom ring!

[/ QUOTE ]

the government sucks but they hired the forensic accounting firm to figure out who is owed money from neteller so we can be paid. HOLLA.

[nowags]

[ QUOTE ]
everyone chill. This is directed at neteller. The individual player has little to worry about especially if they're low-mid stakes.

However, any high stakers out there who decided not to pay taxes in previous years I would recommend find a CPA and file an amended return to make good post haste. Don't wait for the IRS to come to you.

[/ QUOTE ]

this is my gut feeling too. I don't think they have an issue with poker, just taxes. Pay them taxes!!!!!

[DING-DONG YO]

[ QUOTE ]
[ QUOTE ]
stupid [censored] government... so it ends up being the fed that screws everyone over

let freedom ring!

[/ QUOTE ]

the government sucks but they hired the forensic accounting firm to figure out who is owed money from neteller so we can be paid. HOLLA.

[/ QUOTE ]

lol, no

[meccaNES]

[ QUOTE ]
The FBI has also hired a forensic accounting firm to compile a list of US customers who have had Neteller Transactions. Neteller has apparently said it will co-operate.

[/ QUOTE ]

Wtf do they mean by this? They're going to start coming after the individual now?

[King Fish]

Dammit. I still have $2 in my neteller account.

Need to get a class action suit going!

http://www.xenafan.com/movies/bod/images/johnny07.jpg

[CaptainBusto]

http://img102.imageshack.us/img102/5465/american20eagle20flag78hn7.jpg

[King Fish]

[ QUOTE ]
[ QUOTE ]
The FBI has also hired a forensic accounting firm to compile a list of US customers who have had Neteller Transactions. Neteller has apparently said it will co-operate.

[/ QUOTE ]

Wtf do they mean by this? They're going to start coming after the individual now?

[/ QUOTE ]

I really, really don't like this.

[RollinHand]

LOLOLOL! All you ya'z are going to Guantanamo bay!
Internet laundring terrorist!

[DING-DONG YO]

[ QUOTE ]
[ QUOTE ]
The FBI has also hired a forensic accounting firm to compile a list of US customers who have had Neteller Transactions. Neteller has apparently said it will co-operate.

[/ QUOTE ]

Wtf do they mean by this? They're going to start coming after the individual now?

[/ QUOTE ]

All I know is good luck with that, DOJ.

[Part_Time]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
The FBI has also hired a forensic accounting firm to compile a list of US customers who have had Neteller Transactions. Neteller has apparently said it will co-operate.

[/ QUOTE ]

Wtf do they mean by this? They're going to start coming after the individual now?

[/ QUOTE ]

I really, really don't like this.

[/ QUOTE ]

No, to pay you back.

[Gildwulf]

jesus [censored] christ this is like stealing a quarter of the poker economy's GDP off the top.

[MotorBoatingSOB]

[ QUOTE ]
everyone chill. This is directed at neteller. The individual player has little to worry about especially if they're low-mid stakes.

However, any high stakers out there who decided not to pay taxes in previous years I would recommend find a CPA and file an amended return to make good post haste. Don't wait for the IRS to come to you.

oh, and there's good threads about this in the zoo and legislation. Some posters there actually know a thing or two about this.

[/ QUOTE ]

What is "the zoo"?

[MDoranD]

zoo = internet gambling forum

[DING-DONG YO]

internet gambling forum

[Rick305]

not good

[Lucky]

[ QUOTE ]


"The amount of funds seized by the USAO or otherwise restricted by third parties does not exceed US$55 million (euro42 million)," it added. The FBI has also hired a forensic accounting firm to compile a list of US customers who have had Neteller Transactions. Neteller has apparently said it will co-operate.



[/ QUOTE ]

where did you get this. Here is statement from neteller press release:

" As part of these discussions, it is
contemplated that the USAO will engage a forensic accounting firm, at the
Group's expense, to assist in this process and to examine the Group's financial
position. "The return of funds to our US customers is a top priority for
NETELLER" said Ron Martin, Group President and CEO"

[Stake Monster]

It's nice here in Canada.

[PITTM]

this is terrible, terrible news. i just looked at my full neteller history and ive done 689 transactions in the last 4 years. im hoping this isnt going to be called illegal activity or somesuch. err, i mean. i paid my taxes on my casino whoring in 2003!

[Karak567]

[ QUOTE ]
this is terrible, terrible news. i just looked at my full neteller history and ive done 689 transactions in the last 4 years. im hoping this isnt going to be called illegal activity or somesuch. err, i mean. i paid my taxes on my casino whoring in 2003!

[/ QUOTE ]

What you did wasn't illegal. However, even if it was, literally MILLIONS of Americans have done it. They can't throw them all in jail or prosecute them. It would be a mess. Don't worry; you're fine.

[King Fish]

[ QUOTE ]
[ QUOTE ]
this is terrible, terrible news. i just looked at my full neteller history and ive done 689 transactions in the last 4 years. im hoping this isnt going to be called illegal activity or somesuch. err, i mean. i paid my taxes on my casino whoring in 2003!

[/ QUOTE ]

What you did wasn't illegal. However, even if it was, literally MILLIONS of Americans have done it. They can't throw them all in jail or prosecute them. It would be a mess. Don't worry; you're fine.

[/ QUOTE ]

I'm not worried about legal ramifications, I'm just worried about the time/paper headache of an audit.

[jaustin]

I'm not worried about the legal side, I just want my MOTHERFKKKKKING money. is anybody else worried about this? Am i going to be checking my bank statement for the next 3 years to get this money? WTFFFFFFFFFF

[cheer]

never thought it was going to come to something like this /images/graemlins/frown.gif

[foldmasta]

[ QUOTE ]
It's nice here in Canada.

[/ QUOTE ]

Even better totally smashed in eurocountry

*disclaimer
i took all teh monies to drink out of my neteller accout by CND Neteller Card /images/graemlins/blush.gif

[PITTM]

[ QUOTE ]
[ QUOTE ]
this is terrible, terrible news. i just looked at my full neteller history and ive done 689 transactions in the last 4 years. im hoping this isnt going to be called illegal activity or somesuch. err, i mean. i paid my taxes on my casino whoring in 2003!

[/ QUOTE ]

What you did wasn't illegal. However, even if it was, literally MILLIONS of Americans have done it. They can't throw them all in jail or prosecute them. It would be a mess. Don't worry; you're fine.

[/ QUOTE ]

not paying taxes isnt illegal? sweet.

[drexah]

god this makes me soooo [censored] happy that after a week of bullshat sending them documents, calling, etc, they still wouldnt open my account...then i fed up with it and said f neteller.

[wizardplow]

I know this is BBV, but does anyone know what is going to happen to the people/money that have alot of money still in neteller. I have 50k+, and I really have no idea what's going on. I haven't played poker in about a month and really have not been keeping up to date with this [censored].

Any serious answers would be appreciated /images/graemlins/smile.gif

[RikaKazak]

I'm glad I paid all of the taxes I owed....

Audits just suck (my parents were audited when I was 14 so I got to learn the process)...so this sucks...I'm like 99% sure I'll get audited in the next 5 years /images/graemlins/frown.gif

At least it looks like we'll get our money back, it'll just take FOREVER!

[NU Star]

I'm glad 90% of my poker transactions were through Firepay.

[Lurker.]

[ QUOTE ]
It's nice here in Canada.

[/ QUOTE ]
rather cold day for me today though.

[Karak567]

I don't think mid to low stakes players have to worry about audits.

But if you made the big bucks, yeah, you are probably gunna get audited.

This is why we pay our taxes. It's not too late, even if you haven't paid before. GO SEE A CPAASAASAASASAA

[pulse]

Beat - I still have 5k in NETELLER. I'm past the point of being worried now I'm just really pissed. And I want my MOBNEYS!!!

[Cumulonimbus]

http://www.moonbattery.com/archives/flag_burning.gif

seriously. how much more of this are we gonna take? [censored]. let's just pay our taxes so we can pay for this stupid tyrannical $340 trillion war, a [censored] up welfare system, and loads and loads of stupid ass bills and projects, while all the time we're getting tracked and spied on by big brother. If theres one thing the hippies got right it's that they all said this was coming. I hate this [censored] [censored]. I can't even move out of this country without getting taxed on the money I make. How does that even make sense? And a 30% tax rate? WTF is that? I can't think how the government affects even close to thirty percent of my life. [censored] [censored] fufck.

[censored] this, i'm going to new hampshire and teaming up with that farmer who wont pay his taxes. peace.

[whereismyluck]

As our good friend 50cent once said "F#@# the Police"

[evilgenius]

I say we light a flaming bag of poo and leave it on the white house steps and knock then run like hell.

[CaseS87]

[ QUOTE ]
I say we light a flaming bag of poo and leave it on the white house steps and knock then run like hell.

[/ QUOTE ]

That is so crazy that it just might work!

[DONKTARDO]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
this is terrible, terrible news. i just looked at my full neteller history and ive done 689 transactions in the last 4 years. im hoping this isnt going to be called illegal activity or somesuch. err, i mean. i paid my taxes on my casino whoring in 2003!

[/ QUOTE ]

What you did wasn't illegal. However, even if it was, literally MILLIONS of Americans have done it. They can't throw them all in jail or prosecute them. It would be a mess. Don't worry; you're fine.

[/ QUOTE ]

I'm not worried about legal ramifications, I'm just worried about the time/paper headache of an audit.

[/ QUOTE ]

From a simple cost/benefit analysis perspective there is no way the government is going to audit every person who has transactions with a gambling site because the majority of these people are overall losers who donked off legitimate taxed income. Simply because of the various ways poker sites let you cash in and out money, and the lack of ability of the government to determine without mass auditing who was actually making money at these sites (for which taxes are owed) it is ludacris to think that they would spend massive amounts of money auditing (cost) to find the small percentage of lifetime winners who owe taxes (benefit).

[ed8383]

this is the end of poker as we know it!

[relaxwithtrudy]

i owed THEM $200 and its in collections