NETeller rolls over, gives all your information to the Feds

[ekdikeo]

http://www.notedpokerauthority.com/n...olls-over.html

[Grisgra]

*jaw drops*

The current investigation is against the founders, not anyone who happens to have money in Neteller -- the idea that this is automatically going to trigger audits against everyone who ever had money in there is a little paranoid in my opinion, but at the rate things are going, who knows?

[*TT*]

[ QUOTE ]
*jaw drops*

The current investigation is against the founders, not anyone who happens to have money in Neteller -- the idea that this is automatically going to trigger audits against everyone who ever had money in there is a little paranoid in my opinion, but at the rate things are going, who knows?

[/ QUOTE ]

Why is your jaw dropping? This was predicted to be the inevitable outcome back in September - even before the Neteller arrests.

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

[BigBiceps]

It was obvious when we had to fill out a new privacy policy that the information was going to be provided to someone at some time.

I didn't care about that. I did not think I wouldn't be able to withdraw my money though.

[SplawnDarts]

If anyone is surprised by this they haven't been paying attention.

This will likely spawn a number of criminal prosecutions, doubly so if they pass the information on to the states (which the DOJ might well do, since they don't much like online gamblers)

[*TT*]

[ QUOTE ]
If anyone is surprised by this they haven't been paying attention.

This will likely spawn a number of criminal prosecutions, doubly so if they pass the information on to the states (which the DOJ might well do, since they don't much like online gamblers)

[/ QUOTE ]

I do however think this will also permit Neteller to get a waiver from any criminal prosecution, such a waiver would hopefully include the founders.

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

[justinp1]

Hey guys, i just read that article and i have a few questions. When he says that if you ever have had an aggregate of $10,000 in a offshore account and you havent reported it does that mean $10,000 at one time or over the course of time? Also, i signed up for neteller in March 2006 but havent seen my accountant to tell him about the offshore account yet. Is that a big deal since i havent done my taxes yet?

[*TT*]

[ QUOTE ]
Hey guys, i just read that article and i have a few questions. When he says that if you ever have had an aggregate of $10,000 in a offshore account and you havent reported it does that mean $10,000 at one time or over the course of time? Also, i signed up for neteller in March 2006 but havent seen my accountant to tell him about the offshore account yet. Is that a big deal since i havent done my taxes yet?

[/ QUOTE ]

Tell your accountant. Aggregate means 10k at any given time, even if its spread out over multiple accounts.

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

[schwza]

[ QUOTE ]
[ QUOTE ]
Hey guys, i just read that article and i have a few questions. When he says that if you ever have had an aggregate of $10,000 in a offshore account and you havent reported it does that mean $10,000 at one time or over the course of time? Also, i signed up for neteller in March 2006 but havent seen my accountant to tell him about the offshore account yet. Is that a big deal since i havent done my taxes yet?

[/ QUOTE ]

Tell your accountant. Aggregate means 10k at any given time, even if its spread out over multiple accounts.

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

[/ QUOTE ]

do you think that an online poker account counts? the form says "any financial accounts, including bank, securities, or other types of financial accounts in a foreign country..."

for the guy asking about dates, it says "if the aggregate value ... exceeds $10000 at any time during the calendar year, you must report that relationship each calendar year by ... June 30 of the succeeding year." i don't really know what that means. i'm sending one in for 2005-2007 today.

this is from form td f 90-22.1 btw. link

[r0eKY]

the last bit was a twisting of the knife

I would guess that some funds will remain seized, and some funds will be released. And that the Feds will start going after some of the “high volume” players.