Neteller Update...

[nickalips]

this probably has aleady been asked but after reading this post im wondering if hypothetically i make 50k on stars, cash it out and then "lose it in vegas" will i be able to write the loss off to match the win and be at zero dollars in "prize" money on my tax return?

Thats if i get it through netteller into my U.S. bank account?

[Sniper]

[ QUOTE ]
this probably has aleady been asked but after reading this post im wondering if hypothetically i make 50k on stars, cash it out and then "lose it in vegas" will i be able to write the loss off to match the win and be at zero dollars in "prize" money on my tax return?

Thats if i get it through netteller into my U.S. bank account?

[/ QUOTE ]

No you will report $X as income and take $X as an itemized deduction (unless you file as a pro)... review the tax threads...

[Leader]

[ QUOTE ]
this probably has aleady been asked but after reading this post im wondering if hypothetically i make 50k on stars, cash it out and then "lose it in vegas" will i be able to write the loss off to match the win and be at zero dollars in "prize" money on my tax return?

Thats if i get it through netteller into my U.S. bank account?

[/ QUOTE ]

You have to be able to prove your deductions if the IRS comes knocking. In other words you have to prove you lost 50K. They don't have to prove you didn't.

[Sniper]

2+2 Neteller Arrests thread

Official Press Release

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.

----------------------------------

At the request of Neteller, trading on AIM for their shares has been temporarily suspended from 01/16/2007 7:30 am pending an announcement.

----------------------------------

Neteller also already had their quarterly conference call scheduled for Thursday, here's the info for anyone interested...

Notice of Trading Update and Conference Call

NETELLER Plc (LSE: NLR), the leading independent online money transfer business,
will release its next scheduled trading update on Thursday 18th January 2007.

This will be followed by a conference call for analysts and investors later that
day at 3.00 pm GMT (10.00am EST, 8.00am MST). Participants are advised to dial
in 5 to 10 minutes prior to the scheduled start time.


The details of the call are as follows:


Dial in number: UK / Europe + 44 (0) 20 7138 0835
North America + 1 718 354 1172


Replay number: UK / Europe + 44 (0) 20 7806 1970
US replay number: North America + 1 718 354 1112
Replay passcode: 5384726 #


The replay will be available for one week. In addition, a transcript of the call
will be made available on the Company's website within 48 hours of the
conference call.

[Leader]

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

[/ QUOTE ]

I take it that means they're not allowing buy and selling of the stock. Is this standard or a bad sign?

[Uglyowl]

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

[/ QUOTE ]

I take it that means they're not allowing buy and selling of the stock. Is this standard or a bad sign?

[/ QUOTE ]

Pretty much not a surprise. They suspend so that people getting "quicker" information (good or bad) on this event do not have an advantage.

[JPFisher55]

I would say that "fight's on." But this indictment does not seem to be based on the UIGEA, but on the Wire Act for assisting in funding sports betting sites. Still the WTO case will be one argument for the defense and if it wins goodbye UIGEA. I am ashamed that I was a life long Republican until this November.
I wonder if the DOJ intends to take on a poker website; probably not.

[Sniper]

[ QUOTE ]
I would say that "fight's on." But this indictment does not seem to be based on the UIGEA, but on the Wire Act for assisting in funding sports betting sites. Still the WTO case will be one argument for the defense and if it wins goodbye UIGEA. I am ashamed that I was a life long Republican until this November.
I wonder if the DOJ intends to take on a poker website; probably not.

[/ QUOTE ]

The most significant piece of information is going to be, how will Neteller respond...

[JayA]

How about not being able to use instacash anymore? Do you think this is a sign of things to come? Or Neteller just being precautious?

[firstyearclay]

At this point, we are all speculating.

I was under the impression that Neteller was always complying with the U.S. to prevent current situations like this from happening. (ie. they will open their books in IRS cases)

What I am surprised about is that they have taken this long to make a stance on being in or out of the U.S. market.

I hope this "situation" doesnt push them over the edge to pull out.

Neteller is so easy to use. This whole thing just [censored] sucks.