Will Neteller Pay?

[bobman0330]

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If I were an attorney and advising neteller, I don't think I would advise them to steal millions of dollars.

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This is totally non-responsive. I am suggesting that the DOJ may advise neteller what to do, and MAY seize a portion of the money.

In no way am I suggesting that Neteller would not pay absent some determinition by the DOJ as to what they can lawfully do.

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You think the DOJ is going to tell Neteller to keep the money? Come on. "Neteller, you're very bad. In fact, you're so bad that we want you to keep these millions of dollars you owe our citizens. Just put it in your bank account and keep it. That will teach you to mess with the US!"

Also, I think people are completely misunderstanding the incentives of the DOJ. However you may feel about the issue, the attorneys at DOJ are trying to enforce the law and protect citizens, which would not be achieved by encouraging neteller not to return deposits.

[Mendacious]

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If I were an attorney and advising neteller, I don't think I would advise them to steal millions of dollars.

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This is totally non-responsive. I am suggesting that the DOJ may advise neteller what to do, and MAY seize a portion of the money.

In no way am I suggesting that Neteller would not pay absent some determinition by the DOJ as to what they can lawfully do.

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You think the DOJ is going to tell Neteller to keep the money? Come on. "Neteller, you're very bad. In fact, you're so bad that we want you to keep these millions of dollars you owe our citizens. Just put it in your bank account and keep it. That will teach you to mess with the US!"

Also, I think people are completely misunderstanding the incentives of the DOJ. However you may feel about the issue, the attorneys at DOJ are trying to enforce the law and protect citizens, which would not be achieved by encouraging neteller not to return deposits.

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So, assuming the DOJ is contacted, and they have filed charges against the founders of Neteller saying that they conspired to violate the Wire Act, how can they take the position that it is ok for Neteller to continue to violate the law by completing the very transactions which their founders are being charged with? It seems to me the DOJ would HAVE to take the position that transfering any profit back to US customers violates the law. And I see not reason whatsoever why the DOJ would not demand that Neteller turn this money over to the Feds. It appears as though they are going to pursue Dikshit, Party and 888 for illegal profits. Why not make Neteller buy its freedom by turning over this cash to the Feds. Moreover, I could easily see as part of this process the Feds getting Neteller to turn over records of + money accounts and turning this over to the IRS.

Do you think Neteller will resist this if it buys them out of any potential liability and they can continue to operate abroad.

[viper930]

I really dont think the federal government stealing our money from Neteller is a realistic issue here. They are after the operators of online gambling. Theyre not in it to rob American citizens of their moneys. Who are you to be making statements like this?

[LetsGambool]

They didnt freeze the funds though. Theyre still available through the Neteller card. Wouldnt the more likely settlement be an agreement to cease and desist with all money returned to its rightful owners and IRS access to records if/when requested? There's not zero risk involved, and figuring out how to get the money back seems to be a bit of a challenge, but all the evidence so far indicates you will be getting your money back. If you're that worried, get a Neteller card and you can get back 98% of your money within the next couple of weeks. Just took out $800 ten minutes ago no sweat because I dont want to wait 6-8 weeks for the money.

[bobman0330]

Neteller doesn't have physical dollars that belong to you. Even if they have to pay a civil fine, they still owe you money under (I assume, couldn't find neteller t&c) the laws of the UK. It's a valid, legally enforceable debt, and unless they go bankrupt, the money is there. Furthermore, the DOJ doesn't have to do anything, especially if they settle.

[poorolrich]

Quote "They are after the operators of online gambling". If so, why did they arrest the exec's of Netteller or did I miss the part where Netteller were 'operators of online gambling'. I agree that I do not think Netteller/DOJ is going to keep any monies but, you never know.

[Jeffage]

Mendacious,

I might be wrong about this, but I believe when Carruthers was arrested and Bet on Sports stopped doing business with Americans, the government said it wanted the company to return the money to American clients. Now, I don't know how that worked out, but I'm pretty sure that was their public standing on the issue.

Jeff

[Mendacious]

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Mendacious,

I might be wrong about this, but I believe when Carruthers was arrested and Bet on Sports stopped doing business with Americans, the government said it wanted the company to return the money to American clients. Now, I don't know how that worked out, but I'm pretty sure that was their public standing on the issue.

Jeff

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This is interesting. It would seem to me-- as posted by someone else above-- that to take the position that NETELLER should pay profit cashouts to Americans would severely cripple the DOJ's case. It would be akin to saying we want Neteller to finish the crime we are accusing your founders of committing.

I think this is a fundamental difference between charging the money services with conspiracy vs charging the gambling sites with the crime itself. The DOJ may have painted itself into a corner.

[phish]

The DoJ can seize the profits from illegal activities (if they can get ahold of it). However, playing poker itself was never illegal. And players' funds in Neteller do not even belong to Neteller.

Whatever crimes Neteller committed in the US's eyes(financial transactions to gambling sites) have been committed and is done with. Transferring money back to banks or players is not against any law. In fact, failure to return money to players would constitute blatant theft that would be prosecuted under UK law.

I doubt that Neteller is going to ask the DoJ what it should do. Even if asked, it makes no sense that the DoJ would tell Neteller to not return money legally owed to others. And even if that were to happen (some moronic junior lawyer at the Dept speaking on his own), Neteller would have a very tough time following such 'advice' which would so clearly violate UK law, and which would essentially doom their business with the rest of the world.

Don't get me wrong. I do have concerns: primary of which is that the companies that process those ATM withdrawal will no longer do so, and it becomes much more difficult to get money out. Plus there is a chance that Neteller itself can go under.

But the notion that the DoJ would ever tell Neteller to keep this money is just silly. And likewise for seizing the deposits of a foreign company (remember, they wouldn't even be seizing assets of the firm, but the third party funds held at that firm), which would violate all sorts of UK laws.

[Cap_Of_Water]

i dont know if others have posted this or not, but i called them to ask WTF about my EFT and they said it will take 4-6 weeks instead of 1-2 DAYS because of the high volume of withdrawls...