Neteller Update...

[Sniper]

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Neteller founders are supposed to be in court on Wednesday...

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Was there any news on this?

[Nathan_2]

another month...

Neteller patrons to see longer wait for money

and another...

[NesOne]

Nathan_2, thanks for the link.

Sniper, is it possible that the DOJ and Neteller are currently in negotiations to reach a plea bargain of some kind and that these negotiations had not yet been completed? And that the USAO added another month to give additional time to finish the negotiations? And wouldn't it be plausible that these discussions would include the timely return of US players' funds?

Or is that just naive and wishful thinking?

Thanks,
NesOne

[adanthar]

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Nathan_2, thanks for the link.

Sniper, is it possible that the DOJ and Neteller are currently in negotiations to reach a plea bargain of some kind and that these negotiations had not yet been completed? And that the USAO added another month to give additional time to finish the negotiations? And wouldn't it be plausible that these discussions would include the timely return of US players' funds?

Or is that just naive and wishful thinking?

Thanks,
NesOne

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the first two out of three are roughly 100% likely. who knows about the third.

[Sniper]

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The U.S. Attorney's Office for the Southern District of New York late Wednesday said it extended the deadline until March 16 to decide whether to indict the co-founders of Neteller, an Internet money-transfer service popular among gamblers. Stephen Lawrence and John Lefebvre were arrested in January on a charge of conspiracy to transfer funds with the intent to promote illegal gambling

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[Jeffage]

My initial (admittedly uninformed) reaction is that this is that maybe they realize that they might lose this battle in court. If this case was a slam dunk, it seems like it would be easy to decide WHETHER TO INDICT them. Also, it says $55M is frozen, affecting thousands of customers. This implies they have only frozen the money that was stuck in transit on those couple days and don't have plans for the other money still in Neteller accounts. Or am I missing something?

Jeff

[grandgnu]

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The U.S. Attorney's Office for the Southern District of New York late Wednesday said it extended the deadline until March 16 to decide whether to indict the co-founders of Neteller, an Internet money-transfer service popular among gamblers. Stephen Lawrence and John Lefebvre were arrested in January on a charge of conspiracy to transfer funds with the intent to promote illegal gambling

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Don't expect your monies back right after March 16th. If they do get indicted, I assume our money will be tied up for potentially YEARS given the way the legal system works. [img]/images/graemlins/mad.gif[/img]

[JPFisher55]

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My initial (admittedly uninformed) reaction is that this is that maybe they realize that they might lose this battle in court. If this case was a slam dunk, it seems like it would be easy to decide WHETHER TO INDICT them. Also, it says $55M is frozen, affecting thousands of customers. This implies they have only frozen the money that was stuck in transit on those couple days and don't have plans for the other money still in Neteller accounts. Or am I missing something?

Jeff

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I completely agree with you. The delay may be to maximize the damage of the arrests of the Neteller founders without having to test the legal basis of the complaint in court.
It could be that negotiations over a plea deal are occurring, but why would such negotations delay the indictment?

[Sniper]

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My initial (admittedly uninformed) reaction is that this is that maybe they realize that they might lose this battle in court. If this case was a slam dunk, it seems like it would be easy to decide WHETHER TO INDICT them. Also, it says $55M is frozen, affecting thousands of customers. This implies they have only frozen the money that was stuck in transit on those couple days and don't have plans for the other money still in Neteller accounts. Or am I missing something?

Jeff

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I completely agree with you. The delay may be to maximize the damage of the arrests of the Neteller founders without having to test the legal basis of the complaint in court.
It could be that negotiations over a plea deal are occurring, but why would such negotations delay the indictment?

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I believe the delay may have more to do with Neteller's decision to cooperate and the effect this may have on modifying the charges against the founders. Either to include additional charges based on specifics discovered in their forensic examination, or to reduce charges based on the cooperation.

[JPFisher55]

What I don't understand is how the DOJ can just delay their indictment decision considering that the 2 Neteller defendants have posted $5 mil in bond and cannot travel outside US? But I do not practice criminal law.