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Old 02-12-2007, 07:30 PM
ProsperousOne ProsperousOne is offline
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Join Date: May 2005
Location: Ancient Politician Dig
Posts: 236
Default Re: Neteller Stock Exchange Statement

I really hope I'm wrong for those of you who have funds comming, but here's my experience when the government steps in to "help."

I was involved with a Commodities Brokerage who ended up being a "bucket shop," where they weren't actually placing the trades on the floor, but simply taking the other side of all trades. (This is profitable if you know what you're doing... 95% of commodities traders lose money)... However, bucket shops were outlawed around the depression and are now illegal...

Short story is, that once the government stepped in, they seized $6 Million in funds, and it took about 2 years for it to wind through the courts and the funds were released.

I have no idea how the government will treat this, as it's apparent that they consider online gambling illegal, and after they "verify" via their "accounting" that funds were received via online gambling, they may just be confiscated... and it may take several years to sort that out.

Hopefully, none of you are depending on that money to pay rent....

I'm not trying to be a jerk and rub salt in a wound, just relaying how long it took me personally to get money from what all clients thought was in fact a legit brokerage...

This is a much murkier situation, and hence, probably will take longer, if ever.

Best of luck though....
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