USA Today article - Neteller

[PartyPooperGuy]

[ QUOTE ]
My high school newsletter had higher reporting standards than USAToday.

This is a non-event.
(but cue the inevitable adolescent hysterics anyway)

[/ QUOTE ]


WTF do USA Today's standards have to do with this? THEY QUOTED AN FBI AGENT. Are you telling me this is not significant news, particularly to those of us with substantial funds stuck in Neteller?

[tagtastic]

[ QUOTE ]
Still, the actions against BetOnSports and Neteller have left the online accounts of their U.S. customers frozen until legal issues are resolved.

"The truth is that the money is in limbo and the companies are not required to refund any money until a successful prosecution or settlement takes place," says Michael Tew, principal of gaming consultant CapitalHQ. "This could take years." Funds from other gambling sites are not tied up, Tew and others say.

[/ QUOTE ]

I believe this means money cashed out from BetOnSports to Neteller is tied up, not money from any other source.

[brendanb438]

Has Neteller even been charged with something? I thought only the 2 founders who's only ties to Neteller now is owning stock were arrested/served something. The article is a joke, but so is the US Government. I am happy I got my money out of Neteller, all of it except for $1 stuck on my debit card.

-Brendan

[TomR]

[ QUOTE ]
[ QUOTE ]
Still, the actions against BetOnSports and Neteller have left the online accounts of their U.S. customers frozen until legal issues are resolved.

"The truth is that the money is in limbo and the companies are not required to refund any money until a successful prosecution or settlement takes place," says Michael Tew, principal of gaming consultant CapitalHQ. "This could take years." Funds from other gambling sites are not tied up, Tew and others say.

[/ QUOTE ]

I believe this means money cashed out from BetOnSports to Neteller is tied up, not money from any other source.

[/ QUOTE ] I think you are correct

[flafishy]

The company hasn't, but DoJ is apparently seizing it as evidence to use against the two arrested founders.

[JoeOffsuit]

According to the article, why are Neteller funds being held in a US court?

[Barrin6]

[ QUOTE ]
This has gone WAY to far than I ever thought...

[/ QUOTE ]

[justscott]

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

[KotOD]

[ QUOTE ]
So i am not a finance major but where are netellers funds?

[/ QUOTE ]

In an account somewhere in Europe.

[ QUOTE ]
And how did they seize them again?

[/ QUOTE ]

If something was seized, it was the EFTs.

[Messiahkid]

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

[/ QUOTE ]

most are probably illiquid right now and laddered in investments