Neteller Stock Exchange Statement

[Sniper]

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So are you saying that all US funds are not frozen, just what was being transferred?

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Correct... the only contact between Neteller and DOJ, was initiated by Neteller...

[Morphling29]

When I called them I was told there is no possible way to get my money from them.

[phish]

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So are you saying that all US funds are not frozen, just what was being transferred?

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Correct... the only contact between Neteller and DOJ, was initiated by Neteller...

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Essentially, Neteller was more than happy to sell out all their US depositors to try to get a better deal for these two former owners who supposedly don't even have anything to do with the company anymore.

[fish2plus2]

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This thread is misguided. The 55 mil is small peanuts compared to the audits which are coming. Shades of PayPal as predicted back in September by the rare few. Ed Miller has posted an article on this today as well, and I think he is 100% correct.

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

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This is doesnt make any sense to me, were you able to link Neteller to an offshore bank account? If people had tons of money moving though neteller undeclared, they either had to be letting it sit in there, or withdrawing it on a daily basis from an ATM - limits?

[ProsperousOne]

I really hope I'm wrong for those of you who have funds comming, but here's my experience when the government steps in to "help."

I was involved with a Commodities Brokerage who ended up being a "bucket shop," where they weren't actually placing the trades on the floor, but simply taking the other side of all trades. (This is profitable if you know what you're doing... 95% of commodities traders lose money)... However, bucket shops were outlawed around the depression and are now illegal...

Short story is, that once the government stepped in, they seized $6 Million in funds, and it took about 2 years for it to wind through the courts and the funds were released.

I have no idea how the government will treat this, as it's apparent that they consider online gambling illegal, and after they "verify" via their "accounting" that funds were received via online gambling, they may just be confiscated... and it may take several years to sort that out.

Hopefully, none of you are depending on that money to pay rent....

I'm not trying to be a jerk and rub salt in a wound, just relaying how long it took me personally to get money from what all clients thought was in fact a legit brokerage...

This is a much murkier situation, and hence, probably will take longer, if ever.

Best of luck though....

[wade]

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These funds were largely in the process of being transferred from the Group to its US customers or vice versa.

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If there's no law against American average Joe's transfering to/from NT and they lost money...class action !!!

Somebody else go first tho.