American NETELLER Customers Continue to WaitCompany Won't Meet Today's Target Date to Return Funds |
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As reported yesterday, NETELLER announced it will not be able to meet today's target date to complete the investigation with the U.S. Attorney's office. This means those who are waiting to receive their money that was frozen by the investigation in February will have to wait some more.
NETELLER says it has a plan in place to return the approximately $60 million that was seized in transit right after the company and its two cofounders were charged with a variety of crimes related to online gambling. The catch is the plan won't go into action until after the investigation is resolved. Last month, the company pointed to July 13 as the day when the investigation should be complete.
It's July 13, and the investigation is still ongoing.
In today's press release, NETELLER said:
"The Company believes that it is making significant progress towards achieving a resolution and hopes to be able to announce this within a number of days.
"As announced on 4 June 2007, the Company has agreed to a plan for the distribution of funds to its US customers and anticipates implementing the plan upon the resolution of the investigation. The agreed distribution plan details the process and mechanisms by which US customers will be able to initiate the return of their funds after the plan is implemented. Further information will be communicated to NETELLER's US customers via email, through our website, and through a press release once the date for implementation of the plan is finalized."
Repeated calls to company officials weren't returned.
This month, cofounders Steven Lawrence and John Lefebvre both pleaded guilty to a variety of charges stemming from their involvement in the company. At the time of their arrest, the Canadian citizens had nothing to do with NETELLER. They both face up to five years in prison, a fine of a quarter of a million dollars, and will have to pay a portion of the $100 million the government is seeking from the men and their former company. Sentencing for both men takes place in October.
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