Tuesday, March 27, 2007

Payment processing company for the online gambling industry, Neteller, has
announced its plans to return funds to American customers. In an official
press release, the company stated that it has signed partnership agreements
with the Unites States Attorney's Office for the Southern District of New
York (USAO), as well as Navigant Consulting, a consulting firm that will
provide Neteller with operational consulting services. These new
partnerships will aid Neteller in the process of redistributing frozen funds
to its former US customers. The agreement was officially signed on March 20,
2007, and will outline the terms and a timeline under which Neteller will
organize the release of funds. The specific details are planned to be
released within the next 75 days, however, in the interim, Navigant will
provide a report to the USAO on the group's current financial situation.
Neteller's CEO and President, Ron Martin, said, "We continue to be committed
to returning funds to our US customers and working with the US Attorney's
Office." "Progress, while not always visible to the outside observer, has
been steady and these agreements mark a milestone in the process," he added.
Back in January, Neteller founders John Lefebvre and Stephen Lawrence were
arrested on a charge of conspiracy to transfer funds with the intent to
promote illegal gambling.