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LDorey
Joined: 20 Aug 2004
Posts: 604
Location: Springfield, PA
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 Posted: Thu Jul 12, 2007 11:22 am Post subject: Neteller Funds release delay |
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Updated July 12
4:10am - Neteller will be delaying the release of US funds again. It's starting to sound like a broken record. They just issued a press release about the second Neteller co-founder, John Lefebvre, and at the bottom they snuck in this little tidbit.
"However, the Company believes that these and other recent developments will likely delay its efforts to resolve the investigation by a short period. A further update will be given on 13 July 2007."
Source (not sure if it is a good one
http://www.compatiblepoker.com/usa.php#usapokerupdates |
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janeg
Regina Canada
Joined: 04 Oct 2004
Posts: 5112
Location: Somewhere down the crazy river
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| Posted: Thu Jul 12, 2007 11:46 am Post subject: |
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Seems to be legit, found this at Interactive Investor
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RNS Number:1079A NETeller PLC 12 July 2007
NETELLER PLC (the "Company")
UPDATE ON US SITUATION REGARDING FORMER DIRECTORS
Thursday, 12 July 2007 - NETELLER Plc (LSE: NLR), the independent global online payments business, today issued the following statement regarding the announcement on Tuesday, 10 July 2007 by the United States Attorney's Office for the Southern District of New York (USAO) regarding Mr John Lefebvre, one of the Company's former directors and founder shareholders.
According to the USAO announcement, Mr Lefebvre has pleaded guilty to a charge of conspiracy in connection with his role in NETELLER's prior involvement in handling financial transactions between gambling customers in the United States and offshore internet gambling businesses. In relation to this charge, Mr Lefebvre also admitted to allegations requiring him to forfeit at least US$ 100 million jointly with Mr Stephen Lawrence, who pleaded guilty to a similar charge on 29 June 2007.
Other than as shareholders, neither Mr Lawrence nor Mr Lefebvre has any current position with or connection to NETELLER.
As stated in the Company's announcement of 2 July 2007, NETELLER is continuing to cooperate with the investigation being conducted by the USAO, under the advice of its legal advisers and in accordance with court orders in the Isle of Man. The Company remains in discussions with the USAO for the purpose of resolving the investigation and has advised the USAO that it will use its best efforts to resolve the investigation on or soon after 13 July 2007. However, the Company believes that these and other recent developments will likely delay its efforts to resolve the investigation by a short period. A further update will be given on 13 July 2007. The Company's ordinary shares will continue to be suspended from trading. Further information will be announced as and when it becomes available.
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Casper
Joined: 18 Sep 2004
Posts: 658
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| Posted: Sun Jul 15, 2007 10:09 pm Post subject: |
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| Ugh, lame! |
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nsidestrate
Suited's Love Monkey
Joined: 26 May 2004
Posts: 22426
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| Posted: Mon Jul 16, 2007 8:46 am Post subject: |
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The July 13th update:
| Quote: | Friday, 13 July 2007 - NETELLER Plc (LSE: NLR), the independent global online payments business, today issued the following statement regarding its progress in resolving the investigation by the United States Attorney's Office for the Southern District of New York (USAO) into the Company.
As stated in the Company’s announcement of 12 July 2007, NETELLER stated that it had advised the USAO that it will use its best efforts to resolve the investigation on or soon after 13 July 2007. The Company believes that it is making significant progress towards achieving a resolution and hopes to be able to announce this within a number of days.
As announced on 4 June 2007, the Company has agreed to a plan for the distribution of funds to its US customers and anticipates implementing the plan upon the resolution of the investigation. The agreed distribution plan details the process and mechanisms by which US customers will be able to initiate the return of their funds after the plan is implemented. Further information will be communicated to NETELLER’s US customers via email, through our website and through a press release once the date for implementation of the plan is finalised. |
Full press release |
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rwrangler
Joined: 02 Aug 2005
Posts: 287
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| Posted: Wed Jul 18, 2007 12:12 pm Post subject: |
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The Wall Street Journal posted a Neteller investigation update today that can be read here for those with subscriptions. http://online.wsj.com/article/SB118477363073970398.html?mod=home_whats_news_us
one interesting quote:
| Quote: | Mr. Lawrence, Neteller's former chairman, is scheduled to be sentenced Oct. 29, while Mr. Lefebvre, its one-time president, is scheduled to be sentenced Nov. 1.
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Does this mean we won't get our money back until after sentancing? Since in a recent Neteller press release they said funds would be released after the investigation is taken care of (or something like that is what I understood). I would think that the sentencing of Lawrence and Lefebvre should not have much effect on the investigation into the current company (since they are no longer part of day to day business). |
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