CasinoCityTimes.com

Gurus
News
Newsletter
Author Home Author Archives Author Books Send to a Friend Search Articles Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Recent Articles
Best of Ryan McLane

Gaming Guru

author's picture
 

NETeller agrees to distribution plan for U.S. customer money

4 June 2007

NETeller has agreed to a distribution plan for returning seized monies to U.S. customers and hopes to implement the plan no later than mid-July, according to a press release issued today.



U.S. authorities seized up to $55 million from U.S. NETeller accounts earlier this spring.



Since than time, NETeller has been working with the Southern District of New York U.S. Attorney's office and financial consulting firm Navigant to develop a distribution plan and hand over financial information pertinent to the investigation.



NETeller says it will return the money as soon as U.S. authorities conclude their investigation and allow access to the seized money.



"The agreement on the distribution plan represents a milestone in our cooperation with the U.S. authorities," said NETeller President and CEO Ron Martin. "While we are disappointed not to have been able to return funds to our US customers at this point, we believe that the steps we have made in our discussions are significant and we hope to be able to announce further progress with the USAO by July 13, 2007."



The U.S. Attorney's office offered no comment.



U.S. customers will have a limited window to withdraw funds once the seized money is freed. American customers can request their money through electronic transfer or paper check.



Customers with bank accounts already linked to NETeller will need to confirm that the account is still active in order to receive payment.



Requests must be made in full. NETeller will not allow partial payment requests, nor will they allow U.S. customers to transfer money to any other destinations. No interest will be paid on account balances.








height="45" alt="Mucking McLane" />


NETeller agrees to distribution plan for U.S. customer money is republished from Online.CasinoCity.com.
Recent Articles
Best of Ryan McLane
Ryan McLane

Ryan McLane was a poker reporter for Casino City. Although he has a strong background in reporting, the same can't be said for his poker skills. He has never won a major tournament nor is he a professional player. He applied for this job thinking it was a joke, only to find it out that it's true, people will pay you to write about poker. His favorite word is ridiculous.

After receiving his BA in History from Stonehill College in Easton, MA, he somehow ended up freelance reporting for a couple years before being deployed to Operation Iraqi Freedom III with the Massachusetts National Guard. He's back now and is a strong advocate of the phrase "God Bless America."

Currently, Ryan lives in Boston and occasionally makes international treks to cover tournament poker and news. Feature writing is his passion and there is no need to ask for his opinion, he'll probably offer it first - free of charge.
Ryan McLane
Ryan McLane was a poker reporter for Casino City. Although he has a strong background in reporting, the same can't be said for his poker skills. He has never won a major tournament nor is he a professional player. He applied for this job thinking it was a joke, only to find it out that it's true, people will pay you to write about poker. His favorite word is ridiculous.

After receiving his BA in History from Stonehill College in Easton, MA, he somehow ended up freelance reporting for a couple years before being deployed to Operation Iraqi Freedom III with the Massachusetts National Guard. He's back now and is a strong advocate of the phrase "God Bless America."

Currently, Ryan lives in Boston and occasionally makes international treks to cover tournament poker and news. Feature writing is his passion and there is no need to ask for his opinion, he'll probably offer it first - free of charge.