• Neteller Hopes To Announce Further Progress by July 13th

    11 June 2007

    Newspaper

    Well the expected announcement from Neteller regarding the release of funds from US accounts arrived and the expected details of prompt money distribution did not. In a statement released by Neteller, it was stated “we are disappointed not to have been able to return funds to our US customers at this point, we believe that the steps we have made in our discussions are significant and we hope to be able to announce further progress with the USAO by 13 July 2007.”

    The Press Release stated in part::

    “The NETELLER Plc Group (LSE: NLR), the independent global online payments business, today announced that it has agreed to a plan for the distribution of funds to its US customers.”

    “NETELLER is continuing to cooperate with the investigation being conducted by the United States Attorney’s Office for the Southern District of New York (“USAO”), under the advice of its legal advisers and in accordance with court orders in the Isle of Man. The Company is in discussions with the USAO for the purpose of resolving the investigation. The Company has advised the USAO that it will use its best efforts to resolve the investigation no later than 13 July 2007.”

    “The agreed Distribution Plan details the process and mechanisms for the return of funds to US customers. US customers will be able to access their NETELLER accounts online for a certain time and make a request for their funds. In accordance with NETELLER’s Terms of Use, no interest on account balances will be paid. NETELLER will not charge fees to customers to process requests for funds. Funds will be distributed either by electronic transfer to the bank account on record with NETELLER or by a cheque to be sent to a mailing address as confirmed by the customer. If a US customer has a bank account already registered with NETELLER, funds transfer will be by electronic transfer subject to confirmation by the customer that the registered bank account remains valid. US customers will receive the entire balance of funds in their account; no requests for partial payments will be processed. US customers cannot use their accounts for any transaction other than to request the funds.”

    “Ron Martin, Group President and CEO said: “The agreement on the Distribution Plan represents a milestone in our cooperation with the US authorities. While we are disappointed not to have been able to return funds to our US customers at this point, we believe that the steps we have made in our discussions are significant and we hope to be able to announce further progress with the USAO by 13 July 2007.””

    Related News

    • Stakelogic acquired hurricane games

      Gambling News

      Stakelogic Acquires Hurricane GamesIvan Stefanovic15 June 2021

      Stakelogic has announced its second acquisition in just a few weeks’ time. This time, the Malta-based provider has acquired innovative slot provider, Hurricane Games, as part of an ongoing plan to improve and develop its internal development capabilities. The Greenlogic development partnership program was implemented to strengthen the group's potential. Hurricane’s team will be supported by technical freedom and will continue to design and develop amazing games.

      Read full article
    • Everymatrix has made investment in swedish studio lady luck games

      Gambling News

      EveryMatrix Makes Investment in Swedish Studio Lady Luck GamesIvan Stefanovic26 May 2021

      EveryMatrix, a Malta-based casino provider, has invested in Swedish game studio Lady Luck Games before their appearance on the NASDAQ First North Growth Market in June this year. As part of this deal, the studio will cooperate with RGS Matrix, the EveryMatrix remote game server, to deliver the necessary resources to create and broadcast games.

      Read full article
    • Playtech goes live with sky vegas live casino studio

      Gambling News

      Playtech Goes Live with Sky Vegas Live Casino StudioIvan Stefanovic08 May 2021

      Playtech announced its latest partnership deal with Flutter Entertainment, linking to a live casino studio for the Sky Betting and Gaming brand, Sky Vegas. The new specialized studio will be located at Playtech Live Studios in Riga. On the first launch, Sky Vegas Live Casino will include live blackjack and roulette from Playtech, which allow a limitless number of players to enjoy the content.

      Read full article