NETeller founders arrested

[ericschand]

As an update to this, Neteller is stopping transfers between Canadian online
gambling sites and Neteller itself. It is also putting a halt to InstaCash
for Canadians.

http://content.neteller.com/content/...ate_canada.htm

Also, apparently if you phone them, you get a message like this:
Due to an internal business decision, as of March 26th, 2007, InstaCASH will no longer be a deposit option for Canadian NETELLER members. Effective April 9th, 2007, Canadian NETELLER members will no longer be able to transfer funds to or from any online gambling sites. Effective April 15, 2007, all Canadian NETELLER members will have their money frozen indefinitely.

Not sure what they mean by "frozen indefinitely." On the FAQ page it
says you can still purchase with non-gambling sites, yet they will freeze the
funds?

ers

[SpitFire40]

Thank god I got my $200 safely refunded before this crap happened.

[evman150]

I have 3k sitting in Neteller.

This is a MAJOR beat for me. Not because of the money in the account, I'm not worried about that at all. Just that I have to find some other way of moving money around the internet. This is my livelihood here.

From my email:

You can still use NETELLER
Your NETELLER account will NOT be closed. As a NETELLER member, you will still have access to all of your funds which you may choose to withdraw at any time. You can continue to trust NETELLER to provide you with all of our other products and services with the same quality you have come to expect from NETELLER.

[notoepik]

Originally Posted by evman150;824714
This is a MAJOR beat for me. Not because of the money in the account, I'm not worried about that at all. Just that I have to find some other way of moving money around the internet. [B

This is my livelihood here[/B].

Just as it is Tyler's livlihood.

[Vulcan]

What I don't understand is why these guys were down in the States when they knew the Americans were out to get them.

[Mike Oxlong]

WTF? is going on with Net Teller?

I haven't heard a thing about Canadian legislation prohibiting us transfering money to online gambling sites.

I will be livid with the governement if they try to pull the same that the US governement did.

Has anyone even heard of this from the Canadian governement? I don't understand what Netteller is doing or why.....

[ericschand]

Originally Posted by Mike Oxlong

WTF? is going on with Net Teller?

I haven't heard a thing about Canadian legislation prohibiting us transfering money to online gambling sites.

I will be livid with the governement if they try to pull the same that the US governement did.

Has anyone even heard of this from the Canadian governement? I don't understand what Netteller is doing or why.....

They seem to imply that the laws in Canada are vague.

Being that they have a HQ in Calgary, it's possible they don't want
the Canadian government to change its mind and walk-in and take
everything.

"Why did NETELLER make this decision?
NETELLER decided to cease online gambling transactions for Canadian members due to increased uncertainty about the status of certain activities related to online gambling in Canada."

It's the same type of grey area that lets you download mp3's and
movies without repercussion in Canada.

SpitFire: I removed all of my money now too. Screw it. I have a few
bucks here and there, but nothing major. Watch for me at the
penny tables!

ers

[impresso]

Originally Posted by Vulcan

What I don't understand is why these guys were down in the States when they knew the Americans were out to get them.

The Americans were just waiting for them both to go down. One of them would go down, nothing would happen so the other thought it was ok to go down. The americans were just waiting for them both to be down there at the same time.

[Log]

Geez, my brother has about $5k-$10k in netteller. I forwarded this to him. He might want to think about cashing that out!

[Tyler]

Thanks for thinking about me everyone

Yeah - it's too bad about NETeller. We're strongly re-focused on Europe now, as the US is just one stupid mess.

[photon]

This may show how naive I am, but all you folks with large sums in NETeller, is that all for poker??

[Weiser Wonder]

Originally Posted by photon

This may show how naive I am, but all you folks with large sums in NETeller, is that all for poker??

The money I have stuck in NETeller are poker winnings, so it's more money from poker rather than for.

[FurnaceFace]

Everytime I read something about NT and this mess or the fact they have drastically reduced their staff, I thank my lucky whatever they decided I was "too corporate or process oriented" for them and they took a pass on me. I'm sure I'd have been one of the what...500? that have been cut. Crazy how much this has affected the company.

[Bobblehead]

Does this sound crazy to anyone else?

This weekend, the founder of BetOnSports (based in Antigua) was arrested in the Dominican Republic and extradited to Puerto Rico, charged with purposely providing gambling services to US citizens through the Internet.

link