News Update from Neteller re US Funds

Mousey

Ueber Meister Mouse
Joined
Sep 12, 2004
Location
Up$hitCreek
Just how much sharing of documents are they going to share with the feds is my concern. :mad:

Don't you think it would be interesting to know how many US online gamblers and affiliates get red flagged and audited by the IRS within the next year or so?

I STILL do not understand why NETeller is even 'negotiating' with the DoJ or the NY Attorney Generals office or whatever -- except of course the USAO is holding US gamblers' money hostage and two of NETeller's founders in jail .... Extortion, pure and simple.

Following upon the complaints dated 16 January 2007, banks in the US began declining to permit transactions involving the Group through accounts maintained at one or more automated clearinghouses in the United States. Additionally, the Group has been advised that the USAO has obtained court-ordered seizure warrants seizing funds pertaining to the Group’s transactions. To the best of the Group’s knowledge, it believes that the amount of funds seized by the USAO or otherwise restricted by third parties does not exceed US$ 55 million. These funds were largely in the process of being transferred from the Group to its US customers or vice versa.

Is no one - a casino group, the Brits, someone, any legitimate online gaming business-- ANYONE with influence and balls, going to tell the US DoJ and the USAO to F*CK OFF and then sue their pants off??? Hell... there I go getting all pissed off again.

Pardon me while I go :puke:
 

Chatmaster

Dormant account
Joined
Mar 4, 2004
Location
South Africa
Well at least we now can understand why Neteller suddenly have problems paying US players. Is anyone outside the US struggling to get paid through them? As I understood from a post on another forum this is the case, This might also be the reason why Neteller is negotiating with the US atm as they are getting pressure internationally.
 

footdr

Banned User: PITA violations of the Forum Rules
Joined
Jan 13, 2006
Location
cyberspace
DOJ'S EXPLANATION OF NETELLER U.S. TRANSACTION

DOJ's filed charges against neteller(link listed in "online casinos" forum regarding DOJ and IRS. Appears US Bank was processing U.S. transactions on behalf of Neteller. Thats how they were getting away with processing U.S. transactions. not only does the DOJ have Neteller's transactions THEY HAVE THE U.S. AUTOMATED CLEARING HOUSE RECORDS OF EACH TRANSACTION AND WHERE IT WENT. NOW THAT SPELLS TROUBLE FOR NETELLER ACCOUNT HOLDERS RESIDING IN THE U.S.
subpoena from the US Bank demonstrate that, from in or about March2006 up to and including in or about April 2006, a total ofapproximately $50 million was transferred from an account in thename of the Payment Company at the US Bank in the United States toan account in the name of Cardload Inc. at National Bank of Canadain Calgary, Alberta, Canada. Neteller PLCs 2004 annual reportstates that Cardload Inc. is a wholly-owned subsidiary of Neteller
Records of automated clearinghouse (ACH)transactions obtained pursuant to subpoena from an automatedclearinghouse located in the United States demonstrate thatNeteller processes a significant amount of customer transactionsthrough the automated clearinghouse system, including transactionsfrom customers in Manhattan. The ACH system permits Neteller tohandle internet-based customer transactions. These records furtherdemonstrate that Neteller uses a payment service company (thePayment Company) to conduct its customers ACH transactions inthe name of the Payment Company. By doing so, Neteller PLCconceals the nature of these financial transactions. The PaymentCompany receives funds in the United States on behalf of NetellerPLC, and then transfers the funds out of the United States toaccounts controlled by Neteller PLC in Canada.b.Records of wire transfers obtained pursuant tosubpoena from a bank in the United States (the US Bank)demonstrate that, from in or about January 2006 up to and includingin or about March 2006, a total of approximately $98 million wastransferred by wire from an account in the name of the PaymentCompany at the US Bank in the United States to an account in thename of JSL Systems Inc. at National Bank of Canada in Calgary,Alberta, Canada. --------------------------------------------------------------------------------
 
Top