The official NETELLER thread. (First 40 days.) #1 of 2.

[LinusKS]

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The acid test: What would you sell your Neteller debt for today, cash?

I'm thinking it's worth about 50 cents/$. Obviously, I was way out in front of this and have nothing at risk here, but if I did, 50% sounds fair.

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I wouldn't sell it for fifty, but I would for 75%. Maybe 70%. Of course, maybe I'm just being stubborn.

To the mods: FWIW, it's not easy finding good info on the Neteller situation on 2+2. If you're someone (like me) who hasn't posted in a while, you can spend a lot of time sifting through a lot of garbage before you find anything of any value.

The bottom line is if you're American you're SOL. Neteller isn't releasing any American money, and they're not saying when (or if) they will. All we can do is wait.

When I called, they suggested I call back every week(!) But since they're not doing anything but mouthing what's in their press statements, I'd suggest checking here, instead.

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

[LinusKS]

PS

The press release says

As a result of the restrictions placed by third parties, court-ordered seizures, and related legal concerns, the Group is currently unable to make payments to US customers. Nevertheless, the Group is in discussions with the USAO to manage an orderly return of funds to US customers.

Reading between the lines, it sounds like they're holding our money hostage, as a bargaining chip in their negotiations with USAO.

I'd argue Neteller is not "unable" to give us our money - they're unwilling.

I suspect that they could send out checks today, drawn on European banks, sent to US addresses, if they wanted to.

But they have relatively little incentive to do that, at this point.

[fish2plus2]

average CPA doesnt know anything about gambling. better to research it on 2+2 or find CPA specialize in gambling. seriously.

[Vince.]

[ QUOTE ]
PS

The press release says

As a result of the restrictions placed by third parties, court-ordered seizures, and related legal concerns, the Group is currently unable to make payments to US customers. Nevertheless, the Group is in discussions with the USAO to manage an orderly return of funds to US customers.

Reading between the lines, it sounds like they're holding our money hostage, as a bargaining chip in their negotiations with USAO.

I'd argue Neteller is not "unable" to give us our money - they're unwilling.

I suspect that they could send out checks today, drawn on European banks, sent to US addresses, if they wanted to.

But they have relatively little incentive to do that, at this point.

[/ QUOTE ]

Correct me if I'm wrong but wouldn't the DOJ or whatever want Americans to get their money back? How else are they going to pay their taxes? And wouldn't Neteller want to give the money back too since it doesn't exactally look good for your business to steal millions of dollars regardless if it is from customers you will never do business with again.

It just seems likely that eventually we will get our money back because it doesn't make sense for either the DOJ or Neteller to steal it. I guess the question is when.

[AR182]

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Correct me if I'm wrong but wouldn't the DOJ or whatever want Americans to get their money back? How else are they going to pay their taxes? And wouldn't Neteller want to give the money back too since it doesn't exactally look good for your business to steal millions of dollars regardless if it is from customers you will never do business with again.

It just seems likely that eventually we will get our money back because it doesn't make sense for either the DOJ or Neteller to steal it. I guess the question is when.

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I enjoyed this post. Reminds me of the innocence of my youth when I actually believe people in this world wanted to help each other and not hump each other.

[MarkSummers]

correct me if im wrong, but isn't that the entire point of what he's saying? DOJ and IRS screw us by giving our money back and taxing it. They can't screw anyone over by taxing us if we don't have any money to pay taxes on.

[Vince.]

Yeah, I'm not saying I believe that the DOJ is going to help us. I'm just suggesting that it seems it would benifit them if we get our money back. Everyone's been saying that it's likely that audits are coming since Neteller is handing its records over. How does the government expect people to pay those taxes with money they don't have?

[cardcounter0]

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Yeah, I'm not saying I believe that the DOJ is going to help us. I'm just suggesting that it seems it would benifit them if we get our money back. Everyone's been saying that it's likely that audits are coming since Neteller is handing its records over. How does the government expect people to pay those taxes with money they don't have?

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LOL. The government doesn't care if you have to beat and rob your grandmother to get the money to pay them. They will get paid, believe me.

You would probably be better off owing the mob rather than the government, you might find a mob collector who will listen to reason or, on a long shot, have some sympathy.

[Vince.]

So I guess we just have to accept that there is no hope and those of us who have money in Neteller will never see it again. Damn.

[cardcounter0]

[ QUOTE ]
So I guess we just have to accept that there is no hope and those of us who have money in Neteller will never see it again. Damn.

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Why would there be no hope? There are plenty of good reasons for you to get your money. It is just that Governmental concern that you might not have money to pay your taxes would not be one of the reasons.