Casino funds delayed

The US Attorney’s Office for the Southern District of New York announced yesterday that they have decided to extend the deadline on whether to indict the NETeller founders Stephen Lawrence and John Lefebvre. The charges against the pair of transferring billions of dollars in illegal gambling proceeds will now not be heard until March 16. This means that US customers will have to wait at least a month to recover their money that would have otherwise been spent on casinos and gambling web site sites.

Lawrence and Lefebvre were arrested on January 15 and soon after the FBI froze all of NETeller’s US customer accounts with the purpose of using them as evidence against the company. NETeller have confirmed that figure is approximately $55 million, which lies in isolated trust accounts. US customers provided NETeller with approximately two-thirds of their business.

"As a result of the restrictions placed by third parties, court-ordered seizures and related legal concerns, NETeller is unable to make payments to U.S. customers," says a posting on the company's website.

However, the bad news for their US customers is that no timetable has been set for the return of their funds.

NETeller were the online payment processor of choice for many online casino players who wished to fund their playing, with more than 80 percent of its business done with online gambling companies.

Editor, - 2007-02-15 11:38:51

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