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...nds-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! [img]/images/graemlins/smile.gif[/img]