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

[FyteOn]

I'm a lawyer (real estate, so I can't help here with specific laws) but I would strongly suggest hiring legal representation now. If I had $800k tied up I would search the countryside to find the best attorney to help me in this matter. Have a consultation, phone or in person, get him a retainer and wait and see what happens. Best case scenario, you get your money and you've spent a couple hours worth of billing getting your lawyer up to speed. Worst case scenario, the doomsday scenario, and you already have your attorney up to speed and ready to go. I would definitely get out in front on this one. As a few people have said, at the very least a decent demand letter is not a bad idea - but more importantly, having someone ready to go and up to speed when action needs to be taken. Remember, you're only billed for the time actually spent. Any unused retainer will go back to you. For $800k I'd be extremely proactive.

[nineinchal]

If the attorneys at neteller can't get things resolved, you're lawyer would just be a big annoyance to all parties concerned.

It's a complicated problem trying to establish jurisdiction in this internet age, in this particular case. Any attorney you hire at this point would not be able to affect things until jurisdiction is resolved.

Once jursdiction is resolved, then the rest is easy. You deposited funds, the bank owes it to you. However, if the DOJ determines that you earned these funds due to an illegal activity, then you are [censored]. There you go, a free legal opinion.

This sucks totally.

[driller]

First I would hire legal representation in NT's country. It might not be the UK, maybe the Isle of Man. Whatever.

Then I would get my legal rep to advise me on establishing residence and getting my money.

The DOJ probably doesn't have your money, they have probably just pressured NT into freezing US residences funds indefinitely. And good luck in court with either the US Govt or Neteller while residing in the US and with a US lawyer.

Most of us don't have enough at NT to make the above worth while...but you do.

[adanthar]

[ QUOTE ]
Once jursdiction is resolved, then the rest is easy. You deposited funds, the bank owes it to you. However, if the DOJ determines that you earned these funds due to an illegal activity, then you are [censored]. There you go, a free legal opinion.

[/ QUOTE ]

He earned this money by flying out to the Bahamas and playing in a poker tournament while over there. There's no illegal activity to be found anywhere near it.

[FyteOn]

Exactly, which is why his case his so unique and he should have someone on his side. He's not like the other 99.9999% people affected by this and needs to get ahead of the action.

[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.

[egoldy]

You've got the major numbers, but check out the Neteller Customer Coalition group.. Over 350 members with close to $2M being held by Neteller investigating all means to get the money released - government, neteller, the press, etc...

http://sports.groups.yahoo.com/group...tomerCoalition

See the press release below or google the group.




===========================
FOR IMMEDIATE RELEASE
===========================

March 15, 2007

Neteller Customer Coalition Demands Release Of Held Funds For Thousands Of US Impacted Poker Players

Background On Neteller And Port Security Act

In October, President Bush signed the "Port Security Act" to "increase port security" which included a completely unrelated clause in to somehow prevent online gaming – particularly online poker play. Specifically, it bans the use of credit cards, checks and electronic fund transfers for Internet gaming.

There has been increasing support within the government against this law – most notably U.S. Senator Alfonse D'Amato who has joined the Poker Players Alliance as their Chairman of the Board as well as House Financial Services Committee Chairman Barney Frank who has stated that the law is “preposterous” and”one of the stupidest ever passed”..

In January, the government extended their efforts by cracking down on Neteller – which is a major site that poker players used to fund their accounts. Neteller founders Stephen Lawrence and John Lefebvre were arrested in January on a charge of conspiracy to transfer funds with the intent to promote illegal gambling. When customers of Neteller tried to take their money out, they were told the money has been "put on hold". Neteller offers few instructions for customers trying to cash out their accounts. "We are working to resolve all withdrawal issues, but in the meantime we continue to maintain these funds in trust on your behalf," says a posting on the company's website.

Neteller Customer Coalition Organized, Growing, and Becoming Increasingly Upset

Over 250 frustrated NETeller customers who have received no information organized into a group called the NETeller Customer Coalition. Members of the group are furious over NETeller’s decision to deny US customers access to their funds.

Many of the group’s members have patiently waited for US Attorney Michael Garcia’s announcement about whether the Department of Justice will be proceeding with the case against NETeller’s two founders. But the head of the NETeller Customer Coalition says “more and more people are losing patience every day, and these people better hear some good news from NETeller very soon.” The group is been considering initiating legal action against NETeller as early as March 19.

“We understand that the government is at fault here too”, he adds, but “People are tired of NETeller’s do-nothing/say-nothing attitude and they’re not going to just sit back and take it.”

The group has grown quickly since its inception back in late February, with an average of of 30-40 new members daily.

Some members of the group only have a couple hundred dollars stuck at NETeller, while others have tens of thousands. “The injustice of this whole debacle is much larger than just dollar amounts,” says one member with about $800 stuck.

Another member has $84,000 frozen by NETeller, funds he earned legitimately as a site affiliate -- not by gambling. And yet another victim was cut off from the $35,000 he was paid as a writer for various poker publications.

In total the group’s members have over $750,000 frozen by NETeller. More than a dozen individuals have over $20,000 stuck. “These are the kinds of figures that can keep a killer legal team motivated,” said the group’s founder. “And there’s still thousands of other NETeller customers who don’t know about us.”

The NETeller Customer Coalition provides more than a place for irate customers to get even. There’s also a tremendous collection of educational materials available. The group has links to dozen of resources -- everything from Department of Justice press releases to YouTube videos.

A number of PDF documents have been uploaded so members can review things like the FBI’s sealed complaint for themselves. There’s also a chronological library of news articles connected to the case.

The group’s message board provides an excellent forum for members to exchange strategies. “It’s amazing how creative and determined people are when their money is held hostage,” observed one of the group’s moderators.

647 Words

For questions or additional comments, contact yahboohoo@hotmail.com or NetellerCustomerCoalition-owner@yahoogroups.com

http://sports.groups.yahoo.com/group...tomerCoalition

[juris]

#1. A letter will have no impact on bankruptcy or priority of payment. Even if they paid Ike first, they could pull that money back as a preferential payment so that all would be paid pro rata. However, I suspect you've got some banking issues regarding segrated funds, so I don't know how big of a haircut, if at all, anyone has to take.

2. There are a lot of incorrect assumptions on jurisdiciton. You CAN file in the U.S., unless the neteller agreement has a choice of forum provision in it. I don't know off the top of my head, but there is no other reason than contractual that a U.S. citizen couldn't sue Neteller in the states.

3. A U.S. judgment could be docketed and honored in the UK.

However, I don't think you should file a lawsuit at this point. But I do think you should consider seeking counsel to review the terms and conditions of the neteller agreement and explore dual residency to resolve the issue. You've got enough money to spend the $5-10K to get your money out asap.

In terms of finding the right lawyer, depends on where you live. I would encourage you not to pick a name out of the phone book, seek referals, google the firm and the attorney, etc.

Good luck.