NETeller Assets
<TABLE height=1 cellSpacing=0 cellPadding=3 width="100%" border=0><TBODY><TR><TD vAlign=top align=left>March-04-2007,
Is the NETeller Money Gone?</TD></TR><TR><TD class=columncontent vAlign=top align=left>For the past several weeks I've spent most of my waking time trying to get information on the NETeller situation. Based on emails I've received it is clear that the frozen funds at NETeller is the main issue on the minds of people I contacted NETeller representatives, the U.S. department of justice, the lawyers of Stephen Lawrence and John Lefebvre, an expert in the area of money laundering, and legal minds familiar with online gambling and U.S. bank representatives.
Unfortunately, few wanted to talk about the seized money or the case against Lefevre and Lawrence, and those who did talk were not sure which way the Department of Justice was prepared to proceed. But one common refrain from all who were willing to talk was the notion that at this point the ball is clearly in the DOJ's court, and whether they return the money to the American customers is totally dependant on how they decide to treat those funds. Since the Department of Justice has seized all U.S. money in NETeller's ACH system and have essentially cut off any other money held in trust for Americans at British banks, NETeller has absolutely no say on what happens from this point on. If the DOJ consider those funds to be the proceeds of crime, it is very unlikely they will give it back.
As a former DOJ agent said to me, "we don't give drug money seized from dealers back to the junkies so why would we give back this money to bettors if we deem those funds to be the proceeds of crime?" That of course is the big question. Are those funds the proceeds of a crime? This article will address that question and offer suggestions of methods Americans can use to get back the funds.
By Hartley Henderson - Reporter
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