USA Today article - Neteller

[justscott]

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due to high risk i am now willing to offer to one time low offer of 24%.

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We dont need to do this we have that long list of non gambling merchants that we can spend our money on...

[Messiahkid]

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So i am not a finance major but where are netellers funds? And how did they seize them again?

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most are probably illiquid right now and laddered in investments

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Please give some basis for this assertion. Hint, you might want to first read their financial statements:

http://investors.neteller.com/netell...AL11sep062.pdf

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"Hint" I've already seen them.

Only 20% of their total assets are liquid, can you see that?

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How would you define cash and cash equivalents? Illiquid?

Idiot

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Wow, you do realize the majority of this # is made up of t-bills and marketable securities, right?

In reality, we don't know what % of the CCE is actually cash and what % is tied up, so no reason to argue.

[TomR]

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So i am not a finance major but where are netellers funds? And how did they seize them again?

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most are probably illiquid right now and laddered in investments

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Please give some basis for this assertion. Hint, you might want to first read their financial statements:

http://investors.neteller.com/netell...AL11sep062.pdf

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"Hint" I've already seen them.

Only 20% of their total assets are liquid, can you see that?

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How would you define cash and cash equivalents? Illiquid?

Idiot

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Wow, you do realize the majority of this # is made up of t-bills and marketable securities, right?

In reality, we don't know what % of the CCE is actually cash and what % is tied up, so no reason to argue.

[/ QUOTE ]Tied up? How long do you think it takes to liquidate those? Hours at most.

You know not of what you speak.

[APerfect10]

I dont understand why you need to seize the money as evidence? The records are there, what importance is there in tying up the cash and preventing US citizens from receiving THEIR money? This isnt NT's money.

Anyways, my 2006 taxes will be short the amount of which is in my NT account pending withdraw. Screw them...

[pokerpunchout]

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I could forsee a stop being placed until Neteller is capable of issuing a 1099 for tax purposes for each individual US account holder.

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I don't see how that is possible as NT has no idea how much people have made. They only know how much people moved through their system. People often cash out or buy in via a different method then NT. Even if we move past that, most of the money in the gamboling economy is in sites ATM not in NT. Therefore any information they have is incomplete unless that money were to go back through their system.

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What you say is partially correct, but they can give a total for the amount in each account from a specific date forward (i,e. 2/1/2007) This can then be the base amount for a 1099 to be issued. It would then be up to each tax payer to come up with records in order to show losses and gains.

Or the DOJ may simply seize all funds similar to what they do in drug cases. I'm sure they (the US gov) would love to do this if they could and currently have their lawyers exploring all options.

[txbarbarossa]

[censored] THE DEPARTMENT OF "JUSTICE".

THE USA IS NOT A FREE COUNTRY. THAT IS THE BIGGEST [censored] JOKE GOING AROUND OF ALL TIME.

Sorry bastards. I can't believe these good for nothing losers have a job and actually get a paycheck. They are worse than traffic cops in a school zone.

[boogaooga]

Article at majorwager.com:

http://majorwager.com/index.cfm?page...how_column=414

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Upon talking to some people at NETeller, as well as the p.r. firm representing them, it appears NETeller has no interest in giving more information. The company's only response to numerous emails and phone calls was to tell me that they had nothing more to add. And in one call, an individual at the company actually threatened me if I didn't stop "harassing" them.

Fortunately, the news is not all bad. According to Russ Hawkins, CEO of MajorWager.com, NETeller is currently working with the U.S. department of justice to try and conceive a way of getting the money out for Americans, although more details are not known at this point.

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Purely speculation, but the author (correctly) points out that Neteller still has quite a bit of non-American business, and the longer this drags out, the more it's going to shake the confidence of these customers. Perhaps they're trying to work out some sort of a deal whereby they cooperate with the prosecution of their founders in exchange for releasing trapped American funds? (In other words, throwing their cofounders under the bus so they can get on with their business...)

[GrandmaStabone]

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THAT IS THE BIGGEST [censored] JOKE GOING AROUND OF ALL TIME.

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I couldn't have said it better myself. [img]/images/graemlins/grin.gif[/img]

[Green Devil]

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I dont understand why you need to seize the money as evidence? The records are there, what importance is there in tying up the cash and preventing US citizens from receiving THEIR money? This isnt NT's money.

Anyways, my 2006 taxes will be short the amount of which is in my NT account pending withdraw. Screw them...

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You don't have a clue do you?

If the DOJ want to stop americans and neteller-like companies to continue sending money to online gambling sites, which method do you think will be most efficient; Showing they can freeze everybody's money for a couple of years or just telling Neteller and americans they are bad, bad people for doing this?

[Wu36]

ugh, i hate life right now.