NETELLER Working to Return Funds to US Customers
By James McKeown
Today sees the latest instalment in the ongoing NETELLER saga, as the leading global independent online money transfer business issued an update on its US business and criminal charges against two of its founders.

The statement confirmed that the Group’s legal advisers had met with representatives of the United States Attorney’s Office for the Southern District of New York (USAO) to clarify its position in regard to the arrests of the Group’s founders, Mr. Stephen Lawrence and Mr. John Lefebvre, neither of whom are now affiliated to NETELLER.

The Group said it had pledged to cooperate with the USAO, and also indicated it was prepared to begin a prompt document production and discuss a potential mechanism for arranging an orderly repayment of funds to US customers.

It has been suggested that the USAO will engage a forensic accounting firm, at the Group’s expense, to assist with repayment and to examine the Group’s financial position. “The return of funds to our US customers is a top priority for NETELLER,” explained Ron Martin, NETELLER Group President and CEO. The group also claimed that to its knowledge, no criminal action or proceeding has been brought against them, its current officers or directors by the USAO.

The Group reiterated its focus on the continuing business opportunities available in the growing markets of Europe, Asia and the Americas outside of the United States. However, the Group’s shares will continue to be suspended from trading on the AIM.

 
 
 
 
 
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