The official NETELLER thread. (138 days on.) #2 of 3.

[coxquinn]

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6-12 months

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18 months and 1 day Bob.

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you mean "1 day Bob!"

[holdme]

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6-12 months

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18 months and 1 day Bob.

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you mean "1 day Bob!"

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2 DAYS!

[beernutz]

We will get our money back on Judgement Day. Happy now?

[benza13]

They said it was next Thursday when I called.

[PokerBob]

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They said it was next Thursday when I called.

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if this is BS, ban.

[JBPowerHour]

I believe this is poll-worthy.

[Jay Cohen]

FWIW, I asked one of my lawyers to check the Neteller docket to see what he could find regarding seizure of funds. This was his response:

I reviewed the dockets in the Lawrence and Lefebvre cases, and there is
nothing in either case related to the seizure of any funds.

Plus, I can't find any case filed against Netteller. If there is a case
against Netteller its either (a) under seal or (b) located outside the
Southern District of New York [as my search was limited to that
district].

[KurtSF]

I was under the impression that the $55m seized had nothing to do with the founders and the money laundering charges, but has to do with the sports-betting case. Anyone got something solid?

[kidpokeher]

Jay, I'm amazed Neteller can do something like this whether or not it's true the funds were actually seized AND continue to operate normally. I can't think of any business that summarily elects to just not pay their customers unless they were going bankrupt.

Maybe it's because they're in Canada. Or maybe it's because we're all poker players treating the loss of our Neteller funds like a losing session (or month/year/etc.) Whatever the reason, it surprises me there isn't a class action lawsuit filed against them by now.

[Jay Cohen]

there is no case against the company unless it is under seal.

For the founders, there is no sports betting case per se. There is a money laundering case where some of the overt acts are sports bets, and if I recall correctly they are charged in a 1084 conspiracy either as co-consporators or aiding and abetting.

I think Neteller's biggest problem is they have no way to get the funds to the players, and they don't really seem interested in finding a way. I'm sure they could eat the $55 million and still pay everyone, but how can they get the funds to the players. The peer to peer would have been great, but they are going out of their way to cooperate with the Feds these days.