To the disappointment of many following the case against Canadian NETeller founders, Stephen Lawrence and John Lefebvre, the case’s February 14th court date did not reveal any new or significant information.  The news must be especially disappointing for the thousands of US NETeller patrons who have their money tied up with the company.  As USA Today noted the wait for that money has apparently just gotten longer.  

NETeller, an Isle of Man-based online payment service is currently under federal investigation and the US. Attorney’s Office for the Southern District of New York has made the wait for a resolution of the case longer by extending the deadline for deciding whether to indict Lawrence and Lefebvre until March 16th.    The two men were arrested in January on a charge of conspiracy to transfer funds with the intent to promote illegal gambling. 

For US customers, however, it just seems like one more delay in a list of many intended to prevent them from retrieving their money.  The money is supposed to remain in NETeller segregated accounts until the legal issues are resolved. 
NETeller is a money-transfer service that is very popular among online gamblers.  The company claims that US authorities have frozen access to approximately $55 million in US-based accounts.

A posting on the company’s websites states the following: "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".

Neil Donovan, an FBI agent, said that funds are being held in court as potential evidence.  He could not provide a timetable on when customers would get their money back.

Posted on: March 3, 2007

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