yahboohoo 0 Posted March 13, 2007 Share Posted March 13, 2007 What will NETeller's customers do Monday, March 19th? They at least need to be mentally prepared for the possible outcomes following this Friday's announcement from US Attorney Michael Garcia. He will be deciding whether or not to proceed with the case against NETeller's two founders, Stephen Lawrence and John Lefebvre.1. CASE PROCEEDSThe case will probably drag out for months, maybe years. This outcome will likely trigger legal action from at least some of NETeller's customers.2. CASE ABANDONEDWhen will NETeller re-certify accounts? What will withdrawal options be?3. CASE DELAYEDThis outcome may also trigger legal action. How long should we reasonably be expected to wait?4. DOJ & NETELLER STRIKE A DEALGulp... Hard to speculate what the terms might be.5. NETELLER MAKES NO STATEMENTUnacceptable. Period. But don't be surprised...6. NETELLER CUSTOMERS FILE SUITClass-action? Or just a gaggle of plaintiffs? How is a lawyer selected? What is the jurisdiction? Isle of Man (as NETeller's terms specify)? Or location of primary litigant(s)? How will the lawyer be compensated? What happens if NETeller agrees to release funds regardless of lawyer's actions? Is he still compensated? How are court costs covered in the meantime?7. OTHER?Anyone interested in litigation against NETeller might find the NETeller Customer Coalition of interest. It isn’t my group, but I joined just in case something develops from there (I am now the group's first moderator). At the very least, it’s a rallying point.There are currently over 125 members. There are 33 members with more than $2,000 locked up. In total, this membership has about $450,000 frozen at NETeller. Some are pretty angry, some legally unsophisticated, but there is nonetheless some interesting discussion going on over there. A very wide range of opinions.It takes about 90 seconds to join. Real easy. Link to post Share on other sites
MisterB 2 Posted March 13, 2007 Share Posted March 13, 2007 Is it me or is the last part of your name BooHoo rather ironic in this circumstance? Link to post Share on other sites
yahboohoo 0 Posted March 13, 2007 Author Share Posted March 13, 2007 Is it me or is the last part of your name BooHoo rather ironic in this circumstance?yah... Link to post Share on other sites
MAXIMA 0 Posted March 13, 2007 Share Posted March 13, 2007 I am not sure if you or anyone from the coalition has read the 5 billion threads on the subject of Neteller and the funds that are being held. You should!Neteller did not seize your funds, it is the DOJ.Sue the instead.Maxima Link to post Share on other sites
yahboohoo 0 Posted March 13, 2007 Author Share Posted March 13, 2007 I am not sure if you or anyone from the coalition has read the 5 billion threads on the subject of Neteller and the funds that are being held. You should!Neteller did not seize your funds, it is the DOJ.Sue the instead.MaximaIncorrect.The DOJ only seized $55 million. $55 million is far from the total of all of NETeller's customers' accounts. It is only a few days worth of transactions. As stated in NETeller's press release, the funds seized by the DOJ were "mostly in the process of being transferred." So if you were one of the unlucky ones moving your money to/from NETeller sometime in January or February and you don't know where your money is, you can be pretty sure it was seized by the DOJ.If you still have an account balance at NETeller and can't get it out, that's because NETeller voluntarily de-certified your account and froze your funds -- NOT because of the DOJ or some court order. Had the DOJ seized everyone's accounts, your account balance would say "$0.00," and the total would be over $350 million.I've done the research, reviewed NETeller's financial data, their daily transactions AND read the 5 billion threads on the subject (at 2+2, PocketFives, FullTilt, PokerRoom, CardPlayer, etc., etc.)So...You sue the DOJ/USAO if you suspect your money is part of the $55 million seized by the US Government as evidence in their case against NETellers two founders. And good luck with that... You probably can't even start legal action to reclaim those monies until/unless the DOJ's case against NETeller is resolved.But you can sue NETeller if you have a balance there and you are unable to get it out. Presently, the DOJ/USAO has filed no charges against the company or its directors, so there is, legally speaking, no real reason NETeller doesn't release customer funds. Link to post Share on other sites
BobVersion1 0 Posted March 13, 2007 Share Posted March 13, 2007 The DOJ only seized $55 million. $55 million is far from the total of all of NETeller's customers' accounts. It is only a few days worth of transactions. As stated in NETeller's press release, the funds seized by the DOJ were "mostly in the process of being transferred." So if you were one of the unlucky ones moving your money to/from NETeller sometime in January or February and you don't know where your money is, you can be pretty sure it was seized by the DOJ.Just out of curiousity and I do appologize if this was mentioned elsewhere.... I was one of the people that withdrew money from Neteller in mid January, a day or so before all this happened, and it is in "Pending". It was for $500, I had just hit my biggest win online for $1332. I had $600 sent in check since they only allowed $500 to go to Neteller at that point (Limit?) and I played with the rest. So $500 is still floating. My question is, if it was seized by the DOJ, now what? I see in this thread about taking action against Neteller, but is my beef supposed to be with Neteller or DOJ and is it a different process? Thanks for any infoEDIT : Sorry - I see the answer now, didn't read far enough... Link to post Share on other sites
ColeSLaw 0 Posted March 13, 2007 Share Posted March 13, 2007 If funds are seized in transit, Neteller's argument is that it is unable to transfer funds to U.S. customers at this time because funds will be seized in transit. I wouldn't focus on the $55 vs $340 million figures. It makes sense for Neteller to clarify its standing with the DoJ before acting. Link to post Share on other sites
yahboohoo 0 Posted March 14, 2007 Author Share Posted March 14, 2007 Just out of curiousity and I do appologize if this was mentioned elsewhere.... I was one of the people that withdrew money from Neteller in mid January, a day or so before all this happened, and it is in "Pending". It was for $500, I had just hit my biggest win online for $1332. I had $600 sent in check since they only allowed $500 to go to Neteller at that point (Limit?) and I played with the rest. So $500 is still floating. My question is, if it was seized by the DOJ, now what? I see in this thread about taking action against Neteller, but is my beef supposed to be with Neteller or DOJ and is it a different process? Thanks for any infoEDIT : Sorry - I see the answer now, didn't read far enough...I've heard lawyerly types over at 2+2 say that the DOJ can keep the money only for as long as they need it as evidence, meaning as long as they have an active, open case. The second the case is dropped, settled or otherwise resolved, the DOJ needs to prove cause for forfeiture for each individual account. They'll have to prove -- in court -- that laws were broken when the money was realized as income.This sounds very tedious to me. Of course, digital records might make this plausibly easy.I've heard sports bettors say they can just claim to be playing poker, as long as the sites they were using offered poker. So the burden of proof rests on the government. Link to post Share on other sites
Highlow16 0 Posted March 14, 2007 Share Posted March 14, 2007 I miss neteller Link to post Share on other sites
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