Neteller founders arrested in America

[byronkincaid]

Although they apparently don't work for Neteller anymore, they are big shareholders however.

Have any payment processors come forward to replace them if they pull out of US gambling?

[boldie]

do you have a link to the story? haven't staretd reading the papers yet

[Ginger]

Just had a quick look for the story myself, http://www.point-spreads.com/news/internet-sportsbooks/online-gambling-feds-detain-neteller-founders-in-us-20070116.html

[boldie]

Thanks Ginger.

Well that does pose a problem, if charges are brought against them then Visa and Mastercard will surely also pull the plug.

Funny how the first arrests they make are not American though, isn't it? Netteller based on the Isle of Man and not as big or powerfull as Mastercard or Visa.

[ripple11]

                             

    you really dont know whether to laugh or cry........or just get so bloody angry!!

[The Nomad]

Is there any reason to remove funds held in a Netteller account at this time,  thanks

[tantrum]

Ok what is unclear for me, is that:

I am a bank based in X country, I allow american citizens to use my bank because I like their dollars.  In my X country - gambling and gaming is legal therefore I let them make deposits into poker sites.  The Americans can't just issue a warrant on me, can't they?


It is like smoking pot is illegal in the UK, but i can go to Amsterdam and smoke as much pot as I can, and open a shop that sells cannabis in Amsterdam, I can't be then prosecuted in the UK for selling dope? can I?

It seems to me that anyone who has anything to do with poker sites should delete the USA from their holiday destinations list. 

[boldie]

Ok what is unclear for me, is that:

I am a bank based in X country, I allow american citizens to use my bank because I like their dollars.  In my X country - gambling and gaming is legal therefore I let them make deposits into poker sites.  The Americans can't just issue a warrant on me, can't they?


It is like smoking pot is illegal in the UK, but i can go to Amsterdam and smoke as much pot as I can, and open a shop that sells cannabis in Amsterdam, I can't be then prosecuted in the UK for selling dope? can I?

It seems to me that anyone who has anything to do with poker sites should delete the USA from their holiday destinations list. 

yes the americans have made it so they can arrest you for helping Americans commit what essentially is a crime..nice eh?

I don't expect many VP's from pokerstars at the WSOP let me put it that way lol.

It's a bloody disgrace IMO.

[danafish]

It seems to me that anyone who has anything to do with poker sites should delete the USA from their holiday destinations list. 

But their good hamburgers are so tasty and nice!

Oh god, I'm thinking about barbecued ribs now.

Mmm.

Ribs.

[Exorcism]

There is an update in UK Poker News (sorry can't post the link on pain of being told off) but the bottom line is that the FBI have been investigating Neteller since mid-2006 and that they say that Neteller has effectively laundered billions of dollars out of the USA from criminal activities (online gambling). There is a comment from the FBI that the multibillion dollar online gambling industry is - and I quote - "a colossal criminal enterprise masquerading as legitimate business."

One question for the guys arrested. What arrogance or stupidity possessed you to step on US soil after the events of 2006? Completely off their rockers!

[TightEnd]

from the above news report and others

US Attorney Michael Garcia said in a statement that the men knew when they took their company public that its activities were illegal.

He said: Criminal prosecutions related to online gambling will be pursued even in cases where  assets and defendants are positioned outside of the United States." (my emphasis)

FBI Assistant Director, Mark J. Mershon, said the multibillion-dollar online gambling industry was "a colossal criminal enterprise masquerading as legitimate business."

Stephen Lawrence and John Lefebvre have been charged with the creation and operation of an internet payment services company (Neteller) that facilitated the transfer of billions of dollars of illegal gambling proceeds from US citizens to the owners of overseas internet gambling companies.


my comment: In essence, the US authorities are more than implying that the whole online industry is a massive front for money laundering.

[riverdave]

A couple of american friends of mine said last night they were having problems depositing to 'Stars via Neteller, if this persists they are running out of deposit options even on sites that still accept US custom. This will only serve to dry up the liquidity of the online poker market.

[AndrewT]

Step by step the US authorities cut the ties by which Americans can play online poker. First the UIGEA gets the credit cards, now they go after Neteller.

Once they've made it impossible for Americans to play online poker with overseas companies, they'll legalise it for them to do so with US companies and Uncle Sam will get his chunk of tax.

It really is sickening.

BTW Madyank, I'm criticising the US government here - I'm not saying all Americans eat babies or drag their knuckles on the ground.

[bobby1]

This is very worrying indeed.

It seems to be going very wrong for many people. I do think Andrew's view of the likely outcome make's a lot of sense but it could be a rocky road for a lot of sites going forward.

[thetank]

Once they've made it impossible for Americans to play online poker with overseas companies, they'll legalise it for them to do so with US companies and Uncle Sam will get his chunk of tax.

When they do, I'm joining that room!!