Neteller Arrests
 

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Re: Neteller Arrests
 

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The detention of both men indicates a prolonged investigation dating back several years. It is not known why either were traveling in the United States at the same time transferring through two different airports. Nor is it known at this time if the two men are being detained for anything having to do with their involvement in NETeller.


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How dumb can you be. All these guys have to do on a day to day basis is avoid death and federal prison, oooops. Apparently one of them is a former hippy but what happended to the other dude.

Also, over under on the death of the server? Before Sat is my prediction at the current rate of degeneration.

Re: Neteller Arrests
 

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LeFevre, a former hippie, started the hugely successful company with Steve Lawrence in 1999 but retired in 2002 in Costa Rica. Less is known of Lawrence.

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Once a hippie, always a hippie.

Re: Neteller Arrests
 

This report might be true, but it hasn't yet been confirmed by any credible source.

Re: Neteller Arrests
 

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This report might be true, but it hasn't yet been confirmed by any credible source.

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I would guess most credible news sources don't have sources and contacts into egaming companies like these guys (apparently) do

Re: Neteller Arrests
 

I have confirmed this story to be true. I'm on the phone with Neteller right now, they are trying to get me a PR person or manager to discuss the history of John LeFevre, and when he left the company. As recent as November 2005 I found a press release with his name on it.

***UPDATE*** they are not permitted to release any information over the phone, however their corporate compliance department will disclose what they have to - [email protected] if anyone is interested.

TT [img]/images/graemlins/club.gif[/img]

Re: Neteller Arrests
 

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This report might be true, but it hasn't yet been confirmed by any credible source.

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I would guess most credible news sources don't have sources and contacts into egaming companies like these guys (apparently) do

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Well, maybe. I'm sure that's what they want you to think. But this is a site that has gotten both big things and little things wrong. Also, NETELLER is a publicy-traded company, and there are staffers at places like Reuters and Bloomberg that are charged with following news items on the sector and the company on a 24/7 basis. When the previous arrests took place, there were dozens and dozens of stories on the matter within literally minutes.

Re: Neteller Arrests
 

So that's now 4 gambling arrests thanks to the Patriot Act allowing the feds to search all flight manifestos. Nice to see they are using this tool to fight the terrorists?! Almost as helpful as that UIGEA they tagged to the Port Security bill.

Re: Neteller Arrests
 

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So that's now 4 gambling arrests thanks to the Patriot Act allowing the feds to search all flight manifestos. Nice to see they are using this tool to fight the terrorists?! Almost as helpful as that UIGEA they tagged to the Port Security bill.

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Yes, except now it seems these guys were arrested at their homes.

Re: Neteller Arrests
 

So bottom line, are we all [censored] here? If one of these guys was arrested, I wouldn't be too concerned, but it seems odd that they would arrest both of these guys on the same day. I think it would be naive to think that everythign is OK...

Re: Neteller Arrests
 

[censored], i just cashed 9k into neteller today. gdammit. fuuuuuuuccckkkkkkkk

Re: Neteller Arrests
 

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I have confirmed this story to be true. I'm on the phone with Neteller right now, they are trying to get me a PR person or manager to discuss the history of John LeFevre, and when he left the company. As recent as November 2005 I found a press release with his name on it.

***UPDATE*** they are not permitted to release any information over the phone, however their corporate compliance department will disclose what they have to - [email protected] if anyone is interested.

TT [img]/images/graemlins/club.gif[/img]

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It would seem if this is true, they are going to have to put out a press release... this is tradable information, I would expect some kind of release before the market opens in the UK, or shortly thereafter..

Re: Neteller Arrests
 

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I have confirmed this story to be true. I'm on the phone with Neteller right now, they are trying to get me a PR person or manager to discuss the history of John LeFevre, and when he left the company. As recent as November 2005 I found a press release with his name on it.

***UPDATE*** they are not permitted to release any information over the phone, however their corporate compliance department will disclose what they have to - [email protected] if anyone is interested.

TT [img]/images/graemlins/club.gif[/img]

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It would seem if this is true, they are going to have to put out a press release... this is tradable information, I would expect some kind of release before the market opens in the UK, or shortly thereafter..

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The only thing they could confirm was that they were indeed arrested and they they are no longer employees. They were more concerned if I was a customer asking these questions than if I was a member of the press or an investor which struck me as odd.

TT [img]/images/graemlins/club.gif[/img]

Re: Neteller Arrests
 

RNS Number:5751P
NETeller PLC
16 January 2007

STATEMENT REGARDING FORMER DIRECTORS

NETELLER Plc, the leading independent online money transfer business, today
issued the following statement regarding the speculation surrounding two of its
former directors and founder shareholders, Mr Stephen Lawrence and Mr John
Lefebvre.

While travelling separately in the US, Mr Lawrence and Mr Lefebvre, both former
directors of the Company, were detained by US authorities on Monday, 15 January
2007.

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

The Group has not received any communication or correspondence from any US
authority regarding this or any related matter.

Pending clarification of the situation the Board has sought immediate temporary
suspension of NETELLER's shares.

Further information will be issued in due course.

Enquiries:
NETELLER
Andrew Gilchrist, VP - Communications + 44 (0) 1293 555 726

Citigate Dewe Rogerson + 44 (0) 207 638 9571
Sarah Gestetner/Sebastian Hoyle/George Cazenove

Further information

Mr Lawrence resigned as a non-executive director of the Company on 13 October
2006 having stepped down as non-executive chairman of the Company on 11 May
2006. Mr Lefebvre resigned as a non-executive director of the Company on 15
December 2005.


Mr Lawrence is the majority beneficial owner of Corvina International Ltd. which
holds a total of 7,085,541 ordinary shares representing approximately 5.91% of
the issued share capital of the Company. Mr Lefebvre is the beneficial owner of
Eagle Medallion Fortress Investment Corporation which holds a total of 6,638,094
ordinary shares representing approximately 5.54% of the issued share capital of
the Company.

Notes to Editors

The NETELLER Group
With over 3 million customers in 160 countries, 3,500 merchants, and over
$7 billion in annual transactions, the NETELLER Group operates the largest
independent online money transfer business in the world. The Group specializes
in providing innovative and instant payment services where money transfer is
difficult or risky due to identity, trust, currency exchange, or distance.
Being independent has allowed the Group to support thousands of retailers
and merchants in many geographies and across multiple industries.

The Group is quoted on the London Stock Exchange's AIM market, with a ticker
symbol of NLR. NETELLER UK Limited is authorised by the Financial Services
Authority (FSA) to operate as a regulated e-money issuer. For more information
about the Group visit www.netellergroup.com.



This information is provided by RNS
The company news service from the London Stock Exchange

Re: Neteller Arrests
 

On a scale from 1-10, how worried are you about funds in Neteller right now?

Re: Neteller Arrests
 

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On a scale from 1-10, how worried are you about funds in Neteller right now?

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To be honest I don't see any reason at all to be worried...

Re: Neteller Arrests
 

WTF is wrong with America?

Re: Neteller Arrests
 

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On a scale from 1-10, how worried are you about funds in Neteller right now?

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

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not very, less than 1. however that could change easily if neteller does something stupid and suspends client transactions. all it is right now is two guys being detained for god knows what (could be another venture) and a company doing its best to say they arent with us and protecting themselves from the market until they can prove just that.

Re: Neteller Arrests
 

Any speculation as to what they could be charged with? Lawrence resigned the same day the gambling act was signed (Oct 13). They can't be making the argument that owning stock is enough to violate it , can they ?

Re: Neteller Arrests
 

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WTF is wrong with America?

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The American government and by extension the American people are complete retards.

Re: Neteller Arrests
 

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The American government and by extension the American people are complete retards.

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ding! ding! ding!

Re: Neteller Arrests
 

So they were detained or they still are detained. My guess drugs

Re: Neteller Arrests
 

they are apparently large shareholders of a company that could easily be thought of as in the business of financing gambling, which is a violation of the wire act. there is enough wiggle room that these guys will probbly just get saber-rattled tho.

I'm guessing the prosecutors are looking for info from them on how neteller operates, and to send a message to other financial intermediaries to do more to choke off gambling.

Re: Neteller Arrests
 

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Quote:
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WTF is wrong with America?


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The American government and by extension the American people are complete retards.


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are you really so ignorent of your own country that it allows you to think your government is composed of less retarded people? thats sad

Re: Neteller Arrests
 

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they are apparently large shareholders of a company that could easily be thought of as in the business of financing gambling, which is a violation of the wire act. there is enough wiggle room that these guys will probbly just get saber-rattled tho.

I'm guessing the prosecutors are looking for info from them on how neteller operates, and to send a message to other financial intermediaries to do more to choke off gambling.

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This is speculation... the arrests could have something to do with another business venture they are involved in now.

I would expect another press release with more info... at the very least this is certain to be a topic of discussion on Neteller's Thursday conference call. I posted details on the call in the Neteller Update thread.

Re: Neteller Arrests
 

I'm not worried about the funds but I would be in bad shape if the money was tied up for even a week. I just depsited $10K from my Neteller account to WSEX, Stars and Bodog just in case. I used to keep 30% of my bankroll in Pinnacle and 30% in Neteller, when I first heard this news I was in panic mode because I happen to have had 85% of total roll in Neteller.

Re: Neteller Arrests
 

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are you really so ignorent of your own country that it allows you to think your government is composed of less retarded people? thats sad

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To be fair, not all governments are identical: I think that most people would agree that US governments of, say, 100 years ago were a lot different than they are now. It's still possible to be better or worse than someone else...

Re: Neteller Arrests
 

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The American government and by extension the American people are complete retards.

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You realize that 100% of the voting population did not vote the current administration into office, don't you? I guess not.

Re: Neteller Arrests
 

My prediction is that the arrest is based on activity these guys were engaged in while they were involved in Neteller, but that their crimes do not implicate the company itself. There are many non-gambling type crimes they could have committed.

Of course, I have no actual information to support this prediction.

Re: Neteller Arrests
 

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My prediction is that the arrest is based on activity these guys were engaged in while they were involved in Neteller, but that their crimes do not implicate the company itself. There are many non-gambling type crimes they could have committed.

Of course, I have no actual information to support this prediction.

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how could this even have to do with gambling. the regulations aren't even in place yet, and they aren't hosting a gambling site.

just wait it out, and no, ur funds aren't going anywhere, they're a 7 billion $ company. the arrests of 2 former employees won't change a damn thing so stop posting ridiculous questions/comments you fish.

this isn't directed at you Wynton, u were the last post and i quote just to quote.

Re: Neteller Arrests
 

Wynton,

Your supposition makes a lot of sense. David Carruthers after all was also charged with tax evasion and mail fraud. People in the industry have exposed themselves over time it seems to many more possible legal consequences than just the most obvious ones.

Re: Neteller Arrests
 

Wynton,

Your supposition makes a lot of sense. David Carruthers after all was also charged with tax evasion and mail fraud. People in the industry have, it seems, exposed themselves over time to many more possible legal consequences than just the most obvious ones.

Re: Neteller Arrests
 

You can say that again.

Re: Neteller Arrests
 

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LeFevre, a former hippie, started the hugely successful company with Steve Lawrence in 1999 but retired in 2002 in Costa Rica. Less is known of Lawrence.

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Once a hippie, always a hippie.

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Former Hippie > Money Launderer > Terrorist > Possible Al Queda > Guantanamo (sp?)


-1

Re: Neteller Arrests
 

Egaming is reporting that the US Attorney for the Southern District of NY will be making an announcement soon regarding these arrests.

Re: Neteller Arrests
 

Let the pimple come to a head, let the DOJ declare war against Neteller; being the backbone of the industry, it's coming sooner or later even if this round of charges is just some trumped up state affair.

Otherwise the we'll continue this cycle of chicken littles coming out of their holes every 3 months along with wannabe "insiders" speculating on news from dubious sources. It's bad for the games, it's bad for public confidence, and to any pro-gambler understands this cycle of uncertainty hurts their long-term income stream much more than the risk of losing the few thousand dollars sitting in a Neteller account.

Regarding large balances in Neteller, this is a good wake up call for reasons unrelated to the pending charges. Your money should be in an interest bearing account - after all, it's only a day or two (or less) from being transferred to a gaming site, especially so for those who use sites that pay the Instacash vig. While zapping money around to 50 different sites a week to bonus whore was important 2 years ago, it's not viable anymore. Use Neteller as a transfer service, not a bank.

Neteller Federal charges, news conf this afternoon per SDNY
 

The office of the US attorney in New York, southern district, has confirmed they will be issuing a press release at 5.45 UK time regarding the arrests on Monday of former Neteller directors Stephen Lawrence and John Lefebvre.

The spokesperson would not comment any further other than to confirm this is a Federal matter rather than a state matter. Egaming Review will update as soon as the statement is issued.

---- from ergamingnews

Re: Neteller Arrests
 

Don't know how I ended up in this thread.

Re: Neteller Federal charges, news conf this afternoon per SDNY
 

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The office of the US attorney in New York, southern district, has confirmed they will be issuing a press release at 5.45 UK time regarding the arrests on Monday of former Neteller directors Stephen Lawrence and John Lefebvre.

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Source?
Edited to add you listed the source.

Also can you translate that into EST?

Re: Neteller Federal charges, news conf this afternoon per SDNY
 

I believe he said the source was ergamingnews

London is 5 hours ahead of EST so it is already 7 pm there.