Neteller Announcement

Lipton · #1 03-21-2007, 05:32 AM

http://www.neteller-group.com/press/en/126.htm

Neteller announces deal with DOJ to return US customer monies

demon102 · #2 03-21-2007, 05:34 AM

cliff notes? to drunk to read a f-ing article

Lipton · #3 03-21-2007, 05:36 AM

Wednesday, 21 March 2007 – The NETELLER Plc Group (LSE: NLR), the leading global independent online money transfer business, today announced that it has signed agreements with each of the United States Attorney’s Office for the Southern District of New York (“USAO”) and Navigant Consulting, Inc. (“Navigant”).

On 8 February 2007, the Group announced that it was in discussions with the USAO to manage an orderly return of funds to US customers and that it was contemplated that a forensic accounting firm would be engaged, at the Group's expense, to assist in this process and to examine the Group's financial position.

The Group is pleased to announce that on 20 March 2007, it signed agreements with the USAO and Navigant which, among other things, outline terms and a timeline under which NETELLER will work toward the orderly distribution of funds to its US customers. Per the agreements, the Group anticipates that within the next 75 days it will announce a plan by which the funds will be distributed to US customers. Navigant will also provide a report to the USAO on the Group’s current financial condition.

“We continue to be committed to returning funds to our US customers and working with the US Attorney’s Office,” said Ron Martin, Group President and CEO. “Progress, while not always visible to the outside observer, has been steady and these agreements mark a milestone in the process.”

NETELLER is continuing to cooperate with the USAO’s investigation, under the advice of its legal advisers and in accordance with court orders in the Isle of Man.

Further updates with relation to the US situation will be made as soon as there are any material developments. In the meantime, US customers should visit updates.neteller.com for more information, including newly updated FAQs that provide additional clarity, where the Group is able, around certain issues currently being raised in a number of public forums. Additionally US Customers can contact NETELLER Customer Service on the web or by phone at 1-888-258-5859.

NesOne · #4 03-21-2007, 05:52 AM

[censored] A. Good news.

ike · #5 03-21-2007, 06:41 AM

Wow this makes me exceptionally happy. This means we're almost definetly getting all of our money back this year, right?

TylerD · #6 03-21-2007, 06:45 AM

http://content.neteller.com/content/...nessupdate.htm

ike · #7 03-21-2007, 06:50 AM

anybody know how to find the actual agreement they signed with the usao?

Sniper · #8 03-21-2007, 07:04 AM

[ QUOTE ]
anybody know how to find the actual agreement they signed with the usao?

[/ QUOTE ]

Its not clear if that agreement will be made available... the only info released so far, is the Neteller Press Release and the updated FAQ info. No info updated on the DOJ site today yet either (its early in NY, and they may not issue a release on this).

FatalError · #9 03-21-2007, 07:09 AM

is it just me or should we not be praising neteller for "Letting" us have our money finally

Sniper · #10 03-21-2007, 07:16 AM

[ QUOTE ]
is it just me or should we not be praising neteller for "Letting" us have our money finally

[/ QUOTE ]

It should be clear to you by now, that it is not Neteller that is holding up your funds!

Also worth noting, for the first time I believe, Neteller references... "court orders in The Isle of Man".