Re: Neteller Update...
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USAO: "Cooperate with us, shut down your business to US customers, and comply with our due diligence request, and we'll see to it that your PLC remains intact and that you can continue doing business in the European market".
Neteller: "Okay".
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Please to 'splain.
What could the U.S. Attorney do to make it untenable for Neteller to do business in Europe?
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Let's count the ways:
1) It could call for huge fines, which would bankrupt the Company.
2) It could force the resignation or the prosecution of key directors in Neteller, which would hamper its ability to run its own business.
3) It would be a nightmare from a shareholder standpoint, which would also put the company's financial viability at risk.
4) It would undermine the confidence of European consumers in Neteller.
5) It could cause the FSA to revoke Neteller's licenses.
6) It would encourage merchants to discontinue business with Neteller, as there are other companies in place with cleaner rap sheets.
The USAO cannot bring complaints against transactions originating in Europe. Short of that, it has a lot of ways to make Neteller's life very, very difficult.
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