Next step(s) in NETeller debacle - Begin suit on Monday, March 19th?

[yahboohoo]

What do we do Monday, March 19th? We need to be at least mentally prepared for the possible outcomes following this Friday's announcement from US Attorney Michael Garcia. He will be deciding whether or not to proceed with the case against NETeller's two founders, Stephen Lawrence and John Lefebvre.

1. CASE PROCEEDS
The case will probably drag out for months, maybe years. This outcome will likely trigger legal action from at least some of NETeller's customers.

2. CASE ABANDONED
When will NETeller re-certify accounts? What will withdrawal options be?

3. CASE DELAYED
This outcome may also trigger legal action. How long should we reasonably be expected to wait?

4. DOJ & NETELLER STRIKE A DEAL
Gulp... Hard to speculate what the terms might be.

5. NETELLER MAKES NO STATEMENT
Unacceptable. Period. But don't be surprised...

6. NETELLER CUSTOMERS FILE SUIT
Class-action? Or just a gaggle of plaintiffs? How is a lawyer selected? What is the jurisdiction? Isle of Man (as NETeller's terms specify)? Or location of primary litigant(s)? How will the lawyer be compensated? What happens if NETeller agrees to release funds regardless of lawyer's actions? Is he still compensated? How are court costs covered in the meantime?

7. OTHER?


Please discuss.


Anyone interested in litigation against NETeller might find the NETeller Customer Coalition of interest. It isn’t my group, but I joined just in case something develops from there. At the very least, it’s a rallying point.

There are currently 105 members. There are 33 members with more than $2,000 locked up. In total, this membership has about $350,000 frozen at NETeller. Some are pretty angry, some legally unsophisticated, but there is nonetheless some interesting discussion going on over there. Lots of different opinions. It may be very hard to reach a consensus.

It takes about 90 seconds to join. Real easy.

[Petomane]

Begin your suit on the 19th and it'll cost you more than you have in Neteller.

You are suing the DoJ, yes? Because that's the only authority that can release your money.

[yahboohoo]

Getting organized is going to take some time. Members of the group may decide to get started as early as next week. Others may decide to wait. (Personally, I haven't decided.)

Also, regarding who you sue. You sue the DOJ/USAO if you suspect your money is part of the $55 million seized by the US Government as evidence in their case against NETellers two founders. And good luck with that... You probably can't even start legal action to reclaim those monies until/unless the DOJ's case against NETeller is resolved.

But you can sue NETeller if you have a balance there and you are unable to get it out. Presently, the DOJ/USAO has filed no charges against the company or its directors, so there is, legally speaking, no real reason NETeller doesn't release customer funds.

[Petomane]

Neteller has released customer funds, but the DoJ "froze" it, pending investigation. How hard is is to understand this simple fact?

[DavidNB]

[ QUOTE ]
But you can sue NETeller if you have a balance there and you are unable to get it out

[/ QUOTE ]

Neteller doesn't have the funds, DOJ seized them. You would have to wait for the DOJ to release the funds unless you want to sue them. DOJ wouldn't lose any suit aganinst them simply because they have very deep pockects.

[JPFisher55]

There is no proof that the DOJ actually seized any funds. Posters have reported hiring attorneys who have looked at the case file and found no record of actual funds seizure.

[fleece_me]

I love how everyone believes it is the governments fault. GG Neteller, you outplayed all the weak tights like they weren't even dealt any cards.

Does everyone really believe all the Neteller deposits were sitting in some US bank somewhere so the DOJ could take it?

How fukcing stupid are you people, exactly. It is probable that some money was seized from an ACH provider, but not even that much is clear or proven. There has been no govt action taken against Neteller (only 2 founders) and everyone is running around blaming the government anyway, spewing this seized funds BS like it was written in some ancient manuscript and accepted the world over as fact. STFU already with the seized funds excuse. There are other reasons they aren't paying, namely the people currently running the company don't wont to be indicted so they just stopped all US business and it looks like they might get away with stealing the funds as an extra benefit.

[famousanus03]

rolmao at that post..wow...u sit there and call people stupid...you think the people runnin neteller now are gonna be able to get away with stealing the funds...are u joking man...i am skeptical if we will ever get our money...but the people runnin neteller now arent gonna get away with stealing it you idiot

[fish2plus2]

class action lawsuit means we get raped by a group of lawyers who settle for pennies on the dollar? no thanks.

[yahboohoo]

Some people have talked about class action. That's not necessarily the only approach.

If one person (say Haxton) or a small group of co-litigants can successfully recover their funds, then a precedent would be established.

And there's power in numbers, regardless of whether the group acts together in a class action or not.