Neteller Update...

[egoldy]

Based upon a variety of discussions with different attorneys, we are gathering some very interesting new information and questions that need to be answered. I was asked not to post some of these issues until they are thought through a little more and confirmed so we don't come across as "conspiracy theorists" or crying wolf. I've been told by Monday we'll release what the group has uncovered.

However, one of the more obvious things that was already brought up on the NCC board was the following:

It is still unclear what the purpose of the whole "plan" is all about. Assuming the DOJ confiscated $55M of the money in transit between Neteller and US Bank Accounts -- how much OTHER money was still in Neteller and is still being held? $100M? $150M? $200M? Neteller has been not been up front about this number at all and (as has been stated on other boards), there seems to be no reason why Neteller shouldn't be able to release the funds (outside of the $50M) to the US members. Bodog and other sites can cut checks, why can't Neteller? Why 75 days for a plan?

The obvious possible reason for that is that Neteller is negotatiating with the DOJ to get the $55M back as well as to keep its officials from being prosecuted. The key thing that Neteller has to negotiate with is its member's information.

So, will Neteller release nothing? The amount in the account now? All transfers over the past year? ALL transfers ever done?

I'm on the lower stakes of things and have only really been using Neteller for a little over a year. While I decided to report all my gambling income this year to keep things 100% clean, I know that some have not -- and would not be thrilled to see 1,2,3, etc. years of Neteller transactions result in backtaxes, penalties, and fees. The group wants our money back -- but also wants the privacy of its members retained.

That's a more obvious issue and I apologize for dropping teasers about other things, but I was asked not to post anything until a few more answers have been gathered.

I will just stress that until you know:
1) exactly when you're getting your money back from Neteller
2) how MUCH of your money you're getting back (don't assume you're getting all of it)
2) what information is being provided to who in exchange for your money

This thing is not over and we should not sit back and wait 75 days to find that out..