Scary news about Net-Teller

[SecretStash]

NETeller Payments Could Take 6 Months: "We Don't Work Weekends"
Understandably, NETeller's resources could have been exhausted for up to two
weeks. Thousands of anxious customers calling all at once to withdraw
money. But Gambling911 has since been shocked to learn that NETeller
representatives are now telling US customers they will have to wait 6 months
for payments and that "Nobody works on weekends anymore".

Nobody works on weekends? As our own Jenny Woo would say: "WTF?" You would
think that the folks from NETeller are working around the clock trying to
get these customers paid. It appears now as if there are no legitimate
excuses for the delays.

As such, Gambling911 is urging all its readers to contact the Isle of
Man, where NETeller is licensed to operate. You can find their information
here. The NETeller office is located at 4th Floor, 1 Circular Road,
Standard Bank Building, Douglas, Isle of Man, IM1 1AF. The Isle of Man has
long billed itself as the quintessential jurisdiction for legitimate online
gambling related companies to be licensed.

The two Canadian founders of NETeller, John Lefebvre and Steve Lawrence,
solutions NETeller were arrested in Los Angeles and the Bahamas,
respectively, two weeks ago. NETeller immediately stopped servicing those
individuals living in the US. While a common source for transferring funds
to and from online gambling websites, Gambling911.com has long stopped
endorsing NETeller and urged its readers not to keep large sums of money
there following passage of a law to curb some forms of online gambling back
in October.

Until just a few days ago, some ATMs were accepting NETeller's own ATM card,
but on Friday the company told its US customers the card no longer works for
them. Some US customers are now relying on peer-to-peer transfers with
individuals living outside the US. Gambling911 urges anyone using the
later method to be cautious of who they are dealing with in terms of the
peer-to-peer relationship as this concept will most surely lead to numerous
scams.

[CecilBrown]

Yeah, I posted that article yesterday but I would not give it too much credence since it is just 1 Customer Service Rep's comments and he/she is probable being constantly badgered by Americans demanding their money (...and rightfully so!). Here's an article that just appeared today as a followup to the story in USA Today. Seems the Feds are leaning hard on Neteller and it appears they're trying to send Neteller away permanantly...


2/2/2007
FBI doesn't comment on alleged seizure of Neteller funds


USA Today quoted FBI agent Neil Donovan saying "funds from Neteller are being held in court as potential evidence. Some customers may get their money back."
"What's in there [USA Today article] is in there, but I really cannot comment further." Neil Donovan of the FBI Public Information Office told The Online wire today.

Agent Donovan’s new statement partially defuses the H Bomb his quote on USA Today ignited among tens of thousands of Neteller U.S. members with money frozen in their e-wallets.

Meanwhile Neteller maintains that the company holds all members’ funds (all deposited, in-transit and un-cleared funds) by holding the value in independent trust accounts.

To Neteller’s credit the company would be required to immediately disclose seizure of funds to the Financial Services Authority in the U.K. No such disclosure was reported to date.
Attempts to contact Neteller’s spokespersons have gone unanswered.

YOU SMELL SOMETHING BURNING? It ain't no Hot Dog stand it's shares of NLR!

[xxxFTWxxx]

I hate the US government with a passion..

I would leave if I could. maybe one day.

[verdict]

thanx