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NETeller Update: Lawrence posts bail

22 January 2007

NETeller co-founder Stephen Lawrence posted $4 million of his $5 million bail Friday evening after arriving in New York and appearing before a District of Southern New York udge, a U.S. Attorney spokesperson said.

The FBI arrested Lawrence and NETeller co-founder John LeFebvre last Monday on money laundering charges in relation to NETeller's role of transferring funds with the intent to promote illegal gambling. Lawrence's arrest was made in the U.S. Virgin Islands.

Lawrence appeared before U.S Magistrate Douglas F. Eaton Friday in the U.S District Court of the Southern District of New York, U.S. Attorney spokesperson Rebekah Carmichael said.

Other conditions of Lawrence's bail included the suspension of his passport and pre-trial supervision. He must also establish a residence in New York.

Carmichael said Lawrence already paid $4 million for his release including $2.5 million in cash and a residence valued at $1.5 million. The rest of his bail money must be submitted in cash by his trial date.

LeFebvre, who was arrested at his Malibu, Calif. home, posted $5 million bail last Wednesday and is restricted to central California unless traveling to face trial in New York.

Both men are schedule to appear in court on Jan. 26.

NETeller Update: Lawrence posts bail is republished from Online.CasinoCity.com.
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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.