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Neteller Funds Seized by USAO
Isle of Man based payment processor Neteller confirms that USAO (the United States Attorney's Office) has seized funds, thereby stopping US customers from accessing their money. Neteller considers returning these funds a top priority.In a recent statement Neteller says: "...that the USAO has obtained court-ordered seizure warrants seizing funds pertaining to the group's transactions. To the best of the group's knowledge, it believes that the amount of funds seized by the USAO or otherwise restricted by third parties does not exceed U.S. $55 million. These funds were largely in the process of being transferred from the group to its U.S. customers or vice versa. As a result of the restrictions placed by third parties, court-ordered seizures, and related legal concerns, the group is currently unable to make payments to U.S. customers."
The president and CEO of the Neteller group, Ron Martin, was resolute: "The return of funds to our US customers is a top priority for Neteller." Negotiations to accomplish the return are ongoing with the USAO.
Neteller underlines that the funds of their US customers are held in segregated trust accounts, as usual. "The Group’s own cash position remains strong and the Group currently has sufficient working capital to fund all its customers’ balances as well as ongoing requirements of the business."
The two founders of Neteller, Stephen Lawrence and John Lefevbre, were arrested in January but have since been released. No charges against the corporation have been laid since then, but another court hearing is scheduled for February 14.
