Monday, January 22, 2007

NETeller Plc announced the closure of its US online transfer business in the
wake of growing restrictions in the country. The closure follows last week's
arrest of the two founders of the UK-based online money transfer company.
NETeller founders Stephen Lawrence, 46, and John Lefebvre, 55, were arrested
last week in the US and charged of handling billions of dollars in illegal
gambling proceeds. The arrests were part of the US crackdown on online
gambling business. NETeller said it will now focus on its operations in
Europe, Asia and other parts of the Americas. Bloomberg quoted NETeller as
saying that the company's US customers could still use their accounts,
however, for non-gambling transactions.