From EGaming News Neteller agrees to forfeit 100 mil!

twilasue

Dormant account
Joined
Dec 27, 2004
Location
zimbawe
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Neteller founder Stephen Lawrence has pleaded guilty to the illegal transfer of money to online gaming firms and has agreed forfeit US$100m as part of the agreement with the US attorneys office for the southern district of New York.

Lawrence has also agreed to cooperate fully with the US authorities. The case of fellow defendant John Lefebvre is still pending.

The news came on Friday after Lawrence finally appeared in court in New York. In front of judge Kevin Castel, Lawrence told the court: I became aware that the US had legislation barring certain transactions online. With this knowledge, I came to understand that providing payment services to online gambling businesses serving customers in the US was wrong.

Lawrence faces up to five years in prison and a $250,000 fine when it comes to sentencing in October.

In a statement to the London Stock Exchange this morning, Neteller said it was continuing to cooperate with the investigation being undertaken by the US attorneys office. It said it hopes the investigation to be completed by 13 July.

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I haven't been keeping up on this much so sorry if this is old news to you all but it shocked me when i saw it in my email inbox today!

twilasue
 

Mousey

Ueber Meister Mouse
Joined
Sep 12, 2004
Location
Up$hitCreek
From the AP news article from Friday (29th):

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His lawyers said he was cooperating with U.S. investigators, and had also agreed to be at least partly responsible for the $100 million the government is seeking from people who were involved in the operation.

Links to Friday's news articles (AP & Reuters, etc.) are in the Neteller, DoJ & IRS thread (last page, I think).
https://www.casinomeister.com/forums/threads/neteller-the-doj-and-the-irs.16602/

As I understand it, the NETeller Two are currently only stockholders at NETeller and have had no official position in the company for quite some time.
 
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