800k stuck in neteller, will legal representation help me?

[Q_and_A]

I would discourage posts about Neteller based upon rumor or speculation. So many of these posts create anxiety and confusion. That said.....

I thought the Neteller eternal EFT "pending" status was originally blamed on third party payment processors refusing to forward EFT transactions to US citizens/banks. The DOJ seizure excuse came up later. I've tried to follow this issue in the various forums, but have yet to see a post or link that defines the reason why the EFTs have not been processed.

If there is a DOJ seizure, where is the seizure document? Into what registry have the funds been/ordered to be deposited? The most recent "press release" on Neteller's website states that "the Group has been ADVISED of a court ordered seizure" by the New York State attorney general's office. This is presumably the same AGO leading the prosecution of the founder's private case. The last Neteller official press release was February 8. No links, no current information, no credibility.

Who are/were the third party processors that all of a sudden refused to complete EFT transfers to the US?
No links, no information.

The lawsuits against the Neteller founders appear to be personal, not corporate. At this point, they are described as only shareholders having nothing to do with current Neteller operations. Did the DOJ or the New York State AGO threaten Neteller Corporate? How?

The Neteller website remains curiously vague.

There are tens of thousands of US citizens affected by Neteller, millions upon millions of dollars. The people on this forum are active and interested, some are attorneys. Yet there is so little in the way of concrete information.

Neteller could issue a DETAILED explanation of what is going on, at least detailed enough to remove speculation and rumor. They have not. Neteller is the entity the we have done business with and whom we have instilled our trust and money. Neteller should be telling us EXACTLY what is going on.

[yahboohoo]

[ QUOTE ]
I thought the Neteller eternal EFT "pending" status was originally blamed on third party payment processors refusing to forward EFT transactions to US citizens/banks. The DOJ seizure excuse came up later. I've tried to follow this issue in the various forums, but have yet to see a post or link that defines the reason why the EFTs have not been processed.

Who are/were the third party processors that all of a sudden refused to complete EFT transfers to the US?

[/ QUOTE ]

The FBI, US Attorney's Office, the US Treasury and/or the Department of Justice might have contacted those ACHs and financial institutions with a US presence sometime around the time of the arrests. They could have been warned that accepting/processing transactions to or from NETeller could implicate them in criminal proceedings. Major financial institutions doing business with NETeller might have been threatened with 18 U.S.C. § 1956 and/or 18 USC § 1084.

Of course, there might not have been any communication from a US Governmental agency to these financial institutions. Once Lawrence and Lefebvre were arrested, it's just as likely that their legal advisors recommended discontinuing business with NETeller and its affiliates.

Bottom line: The CEOs of Chase, Citi, BofA, etc., are not going to take any chances with their market valuations by getting arrested like Lawrence and Lefebvre.