• NETELLER FOUNDERS CHARGED WITH MONEY LAUNDERING

    18 January 2007

    Newspaper

    EGAMING REVIEW

    Neteller founders Stephen Lawrence and John Lefebvre have been charged with money laundering offences by the US Attorney General in the Southern District of New York.

    A statement from the office of Michael Garcia added that Lawrence and Lefebvre had been arrested in connection with the “creation and operation of an internet payment services company that facilitated the transfer of billions of dollars of illegal gambling proceeds from US citizens to the owners of various internet gambling companies located overseas”.

    Lawrence and Lefebvre were arrested in the early hours of Monday morning, January 15. Lawrence was arrested Monday in the US Virgin Islands and will be presented in federal court in St Thomas today. Lefebvre was arrested in Malibu, California, and will be presented in a Los Angeles court yesterday.

    Neteller suspended trading yesterday morning as the news broke.

    In a statement released, Neteller said neither Lawrence or Lefebvre had any current position within the company. The statement added: “The group has not received any communication or correspondence from any US authority regarding this or any related matter.”

    Lebebvre left Neteller in December 2005 while Lawrence left in October last year, just after the passing of the Unlawful Internet Gaming Enforcement Act (UIGEA).

    The news of the Neteller arrests spelt more bad news for those operators that have not exited the US.

    Said one legal source: “It’s a warning shot across the bows for those still taking money from the US.”

    He added: “They are aiming their strategy at the finance provision. It is consistent with the UIGEA. It is a more effective strategy than going after the operators themselves, such as PokerStars. When you get the money providers, you get the portfolio of operators.”

    One leading operator suggested this was particularly bad news for those poker operators that remain in the US market. “This could be terminal for the poker business in the US. The average punter will not be willing to jump through the hoops (to get their payments through).”

    Related News

    • Qtech games to integrate online slots developed by wazdan

      Gambling News

      QTech Games to Integrate Online Slots Developed by WazdanIvan Stefanovic24 January 2022

      After revealing the introduction of a new wave of content through an agreement with Wazdan, the provider has decided to include its entire line of slots content, which totals more than 140 titles, into the QTech Games platform. The agreement stipulates that the studio's top slots and cutting-edge features will be added to the aggregator's product in Asia.

      Read full article
    • Livespins joins forces with fantasma games gc

      Gambling News

      Fantasma Games Teams up with LivespinsIvan Stefanovic20 January 2022

      The exciting game studio Fantasma Games has partnered with Livespins, a social online casino provider, to bring its portfolio of slots to the revolutionary live streaming platform. The collaboration see the operator’s vast number of extremely amusing streamers play some of Fantasma's most popular online slots, as well as allowing spectators to participate in the action and wager with the streamer.

      Read full article
    • Tom horn gaming secured a deal with napoleon sports and casino

      Gambling News

      Tom Horn Gaming Secures a Deal with Napoleon Sports & CasinoIvan Stefanovic17 January 2022

      Tom Horn is known for developing an extensive range of online slots and other casino-style games, which includes both feature-packed progressive jackpots. Now they are set to expand its presence even further with Napoleon Sports & Casino. The Belgian online casino has now partnered with Tom Horn Gaming, becoming the latest operator to acquire the iGaming specialist’s titles.

      Read full article