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  1. #1
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    Default NETeller class action suit

    Apparently, some players have filed a class-action lawsuit against NETeller.

    http://www.launchpoker.com/news/0309...ler_print.html

  2. #2
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    If nothing else, I hope this brings into public attention the fact the US govt has seized millions of dollars from Americans who did nothing wrong.
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    Why on earth would anyone want to have 800k in neteller instead of just receiving a check?
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    Taxes is one good reason and just about the only reason the Gov don't like offshore banking.

  5. #5
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    There are a lot of good reasons to keep a large sum of money in neteller. One reason is to want to reduce the accounting paperwork and expense. Another is to bring in the money in a different year so it's taxed in that year instead. I was doing this because I earned too much in 2006 and was foreseeing earning less this year.
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  6. #6
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    Some of the pro players play for huge amounts and need the money accessible. 800k seems over the top though even for a pro.

  7. #7
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    It's a problem knowing where to keep all those bundles of $800k. Neteller is so much easier than tripping up over them on the floor!

    Seriously, I hope this brings more attention to US citizens over what the govt has done with gaming in their country, however, it does seem a little unfair on Neteller. I know they are probably a little in the wrong but I wonder if they're being used as a pawn in a much bigger game.

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    Quote Originally Posted by Doolally View Post
    I wonder if they're being used as a pawn in a much bigger game.
    Most definitely, they are being pushed and pummeled from all directions and the impact it has had on the gaming industry is enormous.

    All because two people who really have nothing to do with Neteller anymore have been arrested.

  9. #9
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    Arrests... There has still yet to be a conviction by the judicial system.

    In the US, I could go down to my county magistrate and essentially accuse anyone of anything. The DOJ has the same power. By no means does that mean they are guilty.

    Neteller really hasn't done anything wrong... Other than changing their T&C somewhat quietly to quash the privacy we thought we enjoyed. And as soon as the US justice dept said jump - they asked how high. BUT they are holding our money. I doubt they are paying us interest on it. If they resisted the US demands, we would still have access to our funds.
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  10. #10
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    Quote Originally Posted by matted View Post
    Neteller .... BUT they are holding our money. I doubt they are paying us interest on it. If they resisted the US demands, we would still have access to our funds.
    I believe the money being talked about is not being held by Neteller. I believe at least a portion of it has been seized under court order, and to the extent that is true Neteller has no control over the funds. And I'm not at all certain there was any practical way for Neteller to resist. If they transfered any additional funds into the US to disburse to US citizens that money would probably also be seized.

    Also, I would not rule out Neteller being happy with some litigation on this front. If they have a court order telling them to transfer funds to the US that would unstick things a bit, and that would probably be a good thing for them.

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  11. #11
    Dominique's Avatar
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    Quote Originally Posted by matted View Post
    Arrests... There has still yet to be a conviction by the judicial system.
    Not one arrest made has resulted in a trial so far.

    A trial is too dangerous for the DOJ. It may go against them and set a precedent.

    The most likey to succeed trial is David Carruthers, who was involved in sportsbetting.

    They had to let the fellow from Sportingbet's board go, and I magine the Neteller folks will also be let go.

    The DOJ has achieved what they wanted - scaring the bejeezus out of people and gaining access to the most important, expansive records in the industry.


    Also, I would not rule out Neteller being happy with some litigation on this front. If they have a court order telling them to transfer funds to the US that would unstick things a bit, and that would probably be a good thing for them.

    Michael
    I agree.

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