Could US Gov confiscate pending EFT funds?

[CA_Bettor06]

It's looking pretty bad right now. Two weeks ago Neteller was saying that pending EFTs will be processed by now. If you talk to them now, they will say they have no idea when the EFT processors will release the funds. I don't think anyone in the US has actually received their EFT funds since 1/17.

If the problem was merely a backlog due to the volume of EFT requests then we will be hearing about people actually receiving their EFT. But there seems to be a complete halt in all EFT transactions involving Neteller. My theory is the US Gov has made threats against the EFT processors and they are too scared to release the funds. In the meantime, the US Gov is working on some kind of legal justification to confiscate these funds. The money will be used to enforce the anti-gambling law.

If any US resident put money in Neteller and sent money to offshore gambling sites since the legislation was passed in October, then they knowingly broke the law. Therefore, can't the US Gov make a strong case that the money was used illegally and should be confiscated?

The only reason I can think of why the EFT processors are not releasing any funds is because they US Gov is telling them not to.

Of course, my theory will be (hopefully) wrong if some one (anyone) can say they have received an EFT deposit in their US bank account since 1/17/07.

[genyes]

Excellent idea! Let's spread the rumor that the government is going to take our money. The more rumors the better. Let's all panic together.

[Milkin' it Slowly]

Not against the law to place bets, CA... do some homework!!!

[increasedodds]

If the US government was able to claim neteller was promoting terrorism or a national concern and threw in the Patriot act, yes, they could seize EFts as they hit US bansk.

Likewise, they could freeze funds in a UK bank.

Bottom line is the US is not going to try to freeze a UK bank over gambling.

Also, your EFTs are not pending. They dont pend for 14 days. Neteller cant find a bank who will send them and most likely they dont want them subject to a freeze...

Imagine this:

Neteller dudes arrested
95% of neteller emptied by EFTs in a day.
Feds seize EFTs

It is much much more prudent of neteller if they find or have a processor to process a few % each day.

Sean

[jumper]

my concerns are left unanswered by the fact that noone is allowed to travel outside the u.s,to the isle of mann or to netellers canadian office to collect a check that could only be cashed outside the us federal reserve system.my fear is also related to the u.s. government wanting a look at who has money in neteller.i,m afraid neteller may sell their u.s. customers out if it will benefit their founders plea dealing.the idea of opening a canadian acct,will all the major hassels(utility bill 30 days to obtain,etc)is somewhat squashed by the 1.9% foreign currency transaction fee attached-a hefty sum on a large amount.i,m very confused and concerned.i was wrong to think this was a safe secret stash

[pags11]

this is really scary stuff...