NETELLER reaches a settlement with US Attorney’s Office
20 July 2007
Neteller announced that it has reached a Deferred Prosecution Agreement (DPA) with the United States Attorney’s Office of the Southern District of New York (USAO).
Neteller has agreed to pay a $136 million dollar penalty to the United States. The deal also includes 18 months of monitoring by the United States government.. Neteller has to avoid transferring United States funds to offshore gambling sites over the monitoring period, and if they do comply, all criminal charges will be dropped.
CEO for Neteller, Ron Martin said “We anticipate within the next few weeks that we will have fully implemented the plan for the return of funds to our United States customers and are hopeful that by that time, we will have restored the company’s shares to trading on AIM.
Martin also said “We can now begin to refocus our efforts on building and strengthening the Neteller business in the growing markets of the European and Asia Pacific regions. I look forward to sharing further information about the company’s progress over the coming months.”
USAO (United States Attorney’s Office) has agreed to suspend the prosecution of any federal charges and as a result, Neteller will not be convicted of any federal crime, if in fact they fulfill the criteria of the DPA (Deferred Prosecution Agreement) within the term of the agreement.
We will keep you updated here on the progress of returning funds to USA from Neteller.
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