Neteller signs agreement concerning return of US funds

[louis]

Some good news from Neteller. According to today's press release posted on the neteller site they have signed an agreement that provides a framework for the return of US funds.

There is going to be announcement with specifics within the next 75 days.

This is very vague, but it seems the probability these funds will be returned to customers has increased which is good news.

The fact is that neteller has a motivation to return these funds.

[eisi1978]

Neteller

Neteller has announced it has signed an agreement with the US authorities for the transfer of funds back to its US customers. The company hopes the process will be completed within 75 days.

Neteller’s deal with the US Attorney’s Office (USAO) for the Southern District of New York and a company called Navigant Consulting means the company now has an outline of terms and timeline for the orderly distribution of funds. Navigant will also provide a report to the USAO on Neteller’s current financial position.

Neteller said it continues to cooperate with the US authorities. The company has been in discussions ever since it exited the US market following the arrest of ex-directors and founders Stephen Lawrence and John Lefebvre.

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

[marc]

I'm jumping for joy knowing that after waiting 2 months, I now only have to wait another 2 1/2 months for Neteller to figure out a mechanism to pay me back. I'm sure that this very difficult process of paying people only a few months ago took a day or two, will now take a month or two. I'm guessing we see the money in August.

[knicknut]

Yeah, while promising, being told after 60 days that "maybe in 75 days will have something for you" isn't exactly reassuring.

[pags11]

these guys are full of crap...please don't get your hopes up guys...

[JoshW]

Certainly vauge. But I will take this kind of news over nothing.

[Bill Dozer]

I'm encouraged by the news. Unlike BOS updates, these releases should be based on real progress. It's also encouraging to see that the major UK books are still using Neteller and although it can seem as if UK players are on a different team giving Neteller their business, it's good to know that the mess has so far been contained.

[bigloser]

and although it can seem as if UK players are on a different team giving Neteller their business, it's good to know that the mess has so far been contained.

But on the same team as Cris Pinnacle Greek etc etc

[Bill Dozer]

But on the same team as Cris Pinnacle Greek etc etc

Right, can't forget them, an even better example!

For almost as long as there has been online gambling Pinnacle has been ahead of the moves... in more ways than one. As long as we see the logo on their site, I'm making U.S. players getting paid the favorite.