Neteller Deadline Arrives For Plan To Distribute Funds To US Customers

04 June 2007

Newspaper

Way back in March, Neteller announced that it had signed an agreement with USAO and Navigant to outline terms and a timeline that Neteller would use to re-distribute the confiscated funds of its US customers. “The Group is pleased to announce that on 20 March 2007, it signed agreements with the USAO and Navigant which, among other things, outline terms and a timeline under which NETELLER will work toward the orderly distribution of funds to its US customers. Per the agreements, the Group anticipates that within the next 75 days it will announce a plan by which the funds will be distributed to US customers. Navigant will also provide a report to the USAO on the Group’s current financial condition.”

That deadline is today. There are a lot of antsy people waiting for this information, many of who belong to the Neteller Customer Coalition. There is a lot of speculation on who’s funds will be released and what conditions if any will be attached to it. Most agree the dollar amounts will play a deciding factor in the repayment structure. Players with small amounts will probably be on the short list for receiving funds while players with larger amounts will have to worry about availability of funds not to mention IRS requirements. You can be sure the IRS has made a list and checked it more that twice for all accounts with monies over 10K to make sure the right forms were filed and taxes paid.