Good news for U.S NETeller customers

British online payment processor NETeller has announced it has signed agreements with the United States Attorney’s Office for the Sothern District of New York (USAO) and the consulting group Navigant Consulting which outlines plans and a timeline to return funds to its U.S customers.

With the signing of the new agreement, NETeller expect to announce a plan to distribute the funds to their U.S customers within 75 days.

"Per the agreements, the group anticipates that within the next 75 days it will announce a plan by which the funds will be distributed to U.S. customers," NETeller said in a statement.

Though the freezing of the funds caused much dissatisfaction amongst its U.S customers, NETeller claimed they were always working hard to rectify the problem.

"We continue to be committed to returning funds to our US customers and working with the US Attorney's Office," said Ron Martin, NETeller Group President and CEO.

"Progress, while not always visible to the outside observer, has been steady and these agreements mark a milestone in the process."

Following the arrest of NETeller’s Canadian founders, Stephen Lawrence and John Lefebvre, U.S prosecutors seized funds relating to their U.S customers as part of evidence in the charge of the handling billions of dollars in 'illegal' gambling proceeds brought against the company.

Three days after the arrest on January 18, NETeller quit the U.S market, wiping out 65 per cent of its business.

Editor, - 2007-03-21 10:54:10

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