Neteller Founders arrested

[stoxtrader]

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My personal account access has been fine. No problems whatsoever.

-1

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me 2, I'm fine and live chat was fine.

[Nate tha\\\' Great]

Per Cardplayer:

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Here’s the complete release from the U.S. Attorney’s office::

“Michael J. Garcia, the United States Attorney for the Southern District of New York, and Mark J. Mershon, the Assistant Director in charge of the New York office of the Federal Bureau of Investigation, announced today that Stephen Eric Lawrence and John David Lefebvre were arrested yesterday in connection with the creation and operation of an Internet payment services company that facilitated the transfer of billions of dollars of illegal gambling proceeds from United States citizens to the owners of various Internet gambling companies located overseas.”

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This is bad. The DOJ is going for a home run. This may be the proverbial straw that broke the ... well, you know.

[Pokeraddict]

Gambling911 has a new story up with the charges.

http://www.gambling911.com/NETeller-...ts-011607.html

This is quite a mess. More and more it makes me sick to my stomach that our government has their own moral agenda disregarding what their people really want.

Something else to consider. Neteller surely owes these poker rooms a fortune. They leave reserves to cover charge backs. A collapse by Neteller would mean a collapse of the entire industry. The strong would easily survive but just because you do not have money in Neteller does not mean that it will not affect you if this blows up further.

[KurtSF]

Is the sky falling yet?

[Pokeraddict]

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Is the sky falling yet?

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No, just giving a worst case scenario. Even if people don't use Neteller they should be watching this develop.

[foldmasta]

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Neteller is a publicly traded company. Shut up.

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And so was Enron

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So if you were a Neteller stockholder, you might be worried.
Enron paid it's customers, it was the shareholders and investors that got hurt.

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Customers were paid pennies on the dollar and it took quite a bit of time for that to happen too.

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Betonsports.

[foldmasta]

I'm not THAT worried yet but as i normally keep 90% of my roll in Neteller...considering the betonsports Fiasco + the pinnacle us-goodbye... i will do some diversification...out of neteller into stars, willhill, ladbrokes, expekt...

better the safe way, it's cold hard cash overall

[*TT*]

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Per Cardplayer:

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Here’s the complete release from the U.S. Attorney’s office::

“Michael J. Garcia, the United States Attorney for the Southern District of New York, and Mark J. Mershon, the Assistant Director in charge of the New York office of the Federal Bureau of Investigation, announced today that Stephen Eric Lawrence and John David Lefebvre were arrested yesterday in connection with the creation and operation of an Internet payment services company that facilitated the transfer of billions of dollars of illegal gambling proceeds from United States citizens to the owners of various Internet gambling companies located overseas.”

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This is bad. The DOJ is going for a home run. This may be the proverbial straw that broke the ... well, you know.

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You mean to tell me you didn't expect this sooner or later? It was given it would happen eventually, its pure wire act prosecution - they don't even need to rely on the new law. The DOJ's position for a long time was that Neteller's business is akin to money laundering. Of course I'm not happy about it it either, but I'm surprised so many people seem to have their heads buried in the sand - I didn't expect you to be one of them Nate, your far to astute to not consider that this would eventually happen.

TT [img]/images/graemlins/club.gif[/img]

[1p0kerboy]

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Nate, your far to astute

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You're far too astute

Dresses better than he types [img]/images/graemlins/blush.gif[/img]

[cobrakai111]

For what its worth here is an email I just got back from Full Tilt:

Hello Adam,

Thank you for writing to Full Tilt Poker Support.

We would like to assure you that Full Tilt Poker's operations will
remain unaffected by the recent news about NETeller.

Although the individuals arrested were NETeller shareholders, they are
not currently employed by NETeller, nor have they been for several
months.

For details on how this may affect NETeller?s operations, please contact
them directly. NETeller?s contact information may be found at
http://web.neteller.com/content/en/contact_index.htm

We hope this addresses your concern, and if there is anything else we
can help you with, please let us know.

Regards,

Nicholas
Full Tilt Poker Support