Prime Casino remove my money from Neteller!

[vinylweatherman]

Originally Posted by Ferretktf

I have had a response from Neteller to my concerned query...

It's not a particularly satisfactory answer however, on the assumption that what has been stated in this thread - from both sides - is true.

They quote ....

"Under our merchant contracts, there are only exception cases where a merchant can withdraw member funds. However, these are very strict circumstances due to issues such as technical errors. Merchants are not able to withdraw member funds from NETELLER accounts at their own discretion."


However - Prime appeared to have used "their own discretion" in this case. Or they have misled Neteller as to the true nature of the claw-back ... in which case they must be on dodgy legal ground.


Thoughts?

So, who is the liar, Neteller or Prime?

Prime - no need to give any reason to Neteller in order to reverse a payment provided the funds are still there.

Neteller - only in exceptional circumstances can this happen.

Josh, if you are here, Neteller just told Ferretktf you are a liar, if you are not, you had better get onto Neteller and demand they tell the truth to players and the media the next time this point is raised.

Neteller are probably ignoring Jetset as the other questions are not going to be answered (US 75 days & share suspension). Both would be subject to market rules about selective release of market sensitive information. Answering the first question by reply would show that failure to address the latter issues now is deliberate. Simply not replying allows a large number of excuses of the "we never got your letter/E-mail/query" variety. No doubt, they will be forced into having to make an announcement this coming week, as the stock market will be expecting one.

[jetset]

These requests for comment were all submitted seperately and chased to boot after several days....it's like shouting into an empty tunnel.

The least I would expect from a truly professional outfit would be an acknowledgement explaining why a response cannot or will not be given.

Today's the 4 June and the 75 days are up - let's see what it brings from those comment-challenged folks on the Isle of Man!

[Da_Gambla]

Originally Posted by jetset

The least I would expect from a truly professional outfit would be an acknowledgement explaining why a response cannot or will not be given.

Many times, what is not said or acknowledged is in fact your answer.

Keep up the pressure guys...

I still say that if this was as "common" as posted, we'd have heard about it long before this. The answers are out there...

- Keith

[vinylweatherman]

Originally Posted by jetset

These requests for comment were all submitted seperately and chased to boot after several days....it's like shouting into an empty tunnel.

The least I would expect from a truly professional outfit would be an acknowledgement explaining why a response cannot or will not be given.

Today's the 4 June and the 75 days are up - let's see what it brings from those comment-challenged folks on the Isle of Man!

Looks like you have one answer. Neteller have announced the latest in the US saga, a further delay till July 13th, when they will announce HOW they are to implement an agreed return of US player funds over a 180 day period.
They have not said when shares are likely to be traded again, just a repeat of the reason why they must remain suspended. They cannot even say when the results to Dec 31st 2006 will be released. This is a company with serious issues, and they must know what would happen if shares were relisted. Most companies that have long term suspentions AND fall behind in producing company results emerge with some damage, and are either rescued by takeover, or go under to have the assets sold and debts written off. IF they have been truthful about client funds being held in separate trust accounts, players & merchants should not lose anything other than time, but investors and suppliers could lose everything. If merchant funds are not held in these trusts, they could well be affected, and we will see this coming as players as said merchants would stop accepting Neteller while their appeared to be no reason to.

[Casinomeister]

Originally Posted by jetset

We requested from them three things:

1) An explanation as to why Prime Casino was able to reverse a credit to a client's Neteller account despite the passage of 2 weeks, and without first consulting the account holder.

2) A progress report on the fact that the 75 days Neteller said would be required to pay out US players on their frozen funds are almost up (June 4 by our calculations since their last announcement on March 21)

3) Comment on the fact that Neteller shares on the AIM remain suspended despite the lapse of several months (since mid-January) without further reports.
...

I'm in Montreal right now at the GIGSE and hopefully I'll bump into a Neteller rep (don't think they have a booth this year - which is a shame since they always had FREE BEER). I've noted your questions and I'll request an answer

[Ferretktf]

Bryan - Neteller rang me today - have PM'd you

[Ferretktf]

Bryan - did you contact the Neteller guy? your thoughts?