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Friday, February 09, 2007

Funds Seized by FBI

Funds Seized by FBI
Neteller has had $55 Million in Funds seized by the FBI. These funds are payment processes in transit to and from the US. Authorities are saying the funds are "frozen".
"As a result of the restrictions placed by third parties, court-ordered seizures, and related legal concerns, the group is currently unable to make payments to U.S. customers," Neteller said in a statement.
"The amount of funds seized by the USAO or otherwise restricted by third parties does not exceed US$55 million (euro42 million)," it added. The FBI has also hired a forensic accounting firm to compile a list of US customers who have had Neteller Transactions. Neteller has apparently said it will co-operate.
Most internet poker players already know the 2 founders were arrested in the US and are each facing 20 year racketeering charges, and US Operations were suspended last month. Neteller lost upwards of 65% of its business due to New Anti Gambling Legislation which was "porked" into law in October of the coattails of the port security bill. George W. Bush signed the bill on October 14th making it US law. Neteller is based in the Isle of Man, traded on the Britain Exchange, and was the favorite payment processor for Internet Poker.
It should be noted that Internet Texas Holdem (ITH) - , the leading Texas Holdem Resource & Community, currently accepts Neteller as a payment method in their Internet Poker Store.
For all the details, follow this link to the ITH Communtiy Forum Discussion on Neteller

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