Neteller news March 16

[Bob Ciaffone]

Neteller Case Hearing Rescheduled To April 16

by Bob Ciaffone



The March 16, 2007 hearing of case of two former Neteller Board members, Stephen Lawrence and John Lefebre, was postponed for 30 days, rescheduled by the judge hearing the case to April 16, according to an announcement by the Information Office of the United States Attorney, Southern District of New York. According to Information Officer Rebekah Carmichael, this postponement would not have been possible without the agreement of both the prosecutor and the defendants.

Lawrence and Lefebre were arrested on January 15, 2007, and charged with conspiring to transfer funds with the intent to promote illegal gambling. Both men had resigned from the Neteller Board of Directors by October 13, 2006, the date where the Unlawful Internet Gaming Enforcement Act became law. According to reports issued by Neteller, about 95 percent of the company’s money transfers involved internet gambling companies. The charge is made that 85 percent of that business was North American, with three-quarters of that with US customers.

All Neteller money belonging to US customers is now frozen. Barred are payments by any mode from US accounts. This means no transfers to the Neteller debit card, peer to peer transfers, or purchases from merchants. Neteller claims that the total number of frozen assets belonging to US poker players and other US gamblers are about 55 million dollars. Money already in the Neteller debit card, which is handled by a Louisiana bank, appears to still be accessible at this time.

This postponement comes as a disappointment to poker players hoping to have their Neteller money made retrievable sooner rather than later.