Wednesday, March 21, 2007

Finally ... The News We Have Been Waiting To Hear From Neteller

Press Release

NETELLER Takes Positive Step Towards Returning US Customers’ Funds

Wednesday, 21 March 2007 – The NETELLER Plc Group (LSE: NLR), the leading global independent online money transfer business, today announced that it has signed agreements with each of the United States Attorney’s Office for the Southern District of New York (“USAO”) and Navigant Consulting, Inc. (“Navigant”).

On 8 February 2007, the Group announced that it was in discussions with the USAO to manage an orderly return of funds to US customers and that it was contemplated that a forensic accounting firm would be engaged, at the Group's expense, to assist in this process and to examine the Group's financial position.

The Group is pleased to announce that on 20 March 2007, it signed agreements with the USAO and Navigant which, among other things, outline terms and a timeline under which NETELLER will work toward the orderly distribution of funds to its US customers. Per the agreements, the Group anticipates that within the next 75 days it will announce a plan by which the funds will be distributed to US customers. Navigant will also provide a report to the USAO on the Group’s current financial condition.

“We continue to be committed to returning funds to our US customers and working with the US Attorney’s Office,” said Ron Martin, Group President and CEO. “Progress, while not always visible to the outside observer, has been steady and these agreements mark a milestone in the process.”

NETELLER is continuing to cooperate with the USAO’s investigation, under the advice of its legal advisers and in accordance with court orders in the Isle of Man.

Further updates with relation to the US situation will be made as soon as there are any material developments. In the meantime, US customers should visit for more information, including newly updated FAQs that provide additional clarity, where the Group is able, around certain issues currently being raised in a number of public forums. Additionally US Customers can contact NETELLER Customer Service on the web or by phone at 1-888-258-5859.

Well ... what do you know. We may actually see our money. I think I may splurge and buy a laptop when my last withdrawal clears. It's nice for US poker players to FINALLY hear some good news about online poker. Cheers!


Blogger Hammer Player a.k.a Hoyazo said...

It really is encouraging news, Lightning. But I still think there's less than 50% chance that we all see our money again. The chance is a lot more than it was yesterday, don't get me wrong, but when I see the talking about "evaluating their financial position" and hopefully coming up with a "plan" for orderly distribution of the funds, I'm not totally convinced. It would be great though, don't get me wrong.

5:33 PM  
Blogger MTC said...

I was a bit late on this news, hope it's true.

1:08 PM  

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