January 22, 2007

Net Teller Leaders Arrested in US, Stops Taking US Funds

It looks like the US is serious about enforcing its new anti-online-gambling act, and Net Teller's leaders are living proof.

Neteller plc announced today that it has temporarily suspended its shares on the London AIM stock market after its two Canadian founders and former directors were arrested in the United States. Investors were left rather shocked by the news after Neteller issued the following statement:
"While travelling separately in the US, Mr (Stephen) Lawrence and Mr (John) Lefebvre, both former directors of the Company, were detained by US authorities on Monday, 15th January 2007. Other than as shareholders, neither Mr Lawrence nor Mr Lefebvre has any current position with or connection to NETELLER. The Group has not received any communication or correspondence from any US authority regarding this or any related matter. . . Pending clarification of the situation the Board has sought immediate temporary suspension of NETELLER's shares. Further information will be issued in due course."

Reported last week at Gambling Planet
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Later in the week :

Due to recent US legislative changes and events, effective immediately, US customers with Neteller accounts are no longer able to transfer funds to or from any online gambling sites.
All US members will continue to be able to use their NETELLER e-wallet account to safely transfer funds to and from non-gambling merchants and are not required to close their account or withdraw their funds.

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