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News Update from Neteller re US Funds

Discussion in 'America the Beautiful' started by cynthial, Feb 8, 2007.

    Feb 8, 2007
  1. cynthial

    cynthial Boo

    I got this in my mailbox this morning.

    You must register/login in order to see the link.
    5 people like this.
  2. Feb 8, 2007
  3. Addisyn

    Addisyn Dormant account

    Underground Sewer Access
    All I can say is my anger is rising! This is simply nonsense. The US government needs to get the hell out of my business NOW!
  4. Feb 8, 2007
  5. bonustreak

    bonustreak Senior Member webmeister

    Home Office
    Just how much sharing of documents are they going to share with the feds is my concern. :mad:
  6. Feb 8, 2007
  7. Mousey

    Mousey Ueber Meister Mouse CAG

    Pencil Pusher
    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.

    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:
    1 person likes this.
  8. Feb 9, 2007
  9. Chatmaster

    Chatmaster Dormant account

    Online Marketing Specialist
    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.
  10. Feb 14, 2007
  11. footdr

    footdr Banned User: PITA violations of the Forum Rules


    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. --------------------------------------------------------------------------------

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