PokerPages Home PagePokerPages Poker SchoolDownload Poker Software
FREE Sign Up!
Username Password  
Tournament News:   Daily     New     Last Month     This Month     Next Month     WSOP      WSOPE     WPT     EPT     APPT     LAPT

PokerPages > Poker News > Poker News

Poker News - Poker News

NETELLER Stops Handling All US Market Gambling Transactions- Bad News for Online Poker

by PokerPages.com
Thu, Jan 18th, 2007 @ 12:00am

On their corporate site today, NETELLER announced a complete halt to handling all gambling related transactions to and from the US market. NETELLER has been one of the most popular ways for US poker players to fund their online accounts.

Non-US customers are not affected, as NETELLER continues to operate its non-US business as normal.

Referring to the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA) last October, NETELLER said they "will cease processing online transactions related to gambling for the US market with effect from today [January 18, 2007] in light of the passing of the UIGEA and the uncertainties and likely delays relating to the drafting and implementing of regulations."

They stressed that all NETELLER funds "including those of US residents, are held in segregated trust accounts and are fully secure and will be available for withdrawal by customers, on demand."

NETELLER also noted that "US customers continue to be able to use their e-wallet accounts for non-gambling transactions."

As noted in a prior PokerPages Article, on 16 January NETELLER shares were temporarily suspended on the London Market upon the arrest of NETELLER founders Stephen Lawrence and John Lefebvre, who were formerly directors of the company and are currently two of its three largest shareholders.

The US Attorney's office in the Southern District of New York charged the two men with conspiring to transfer funds with the intent to promote illegal gambling.

One of the bases of the US Attorney's office complaints against Lawrence and Lefebvre is that NETELLER handled financial transactions between gambling customers in the United States and numerous offshore online gaming businesses, which constitutes illegal conduct.

NETELLER has chosen to suspend share of the company while they assess what further steps it might take in light of these arrests and to clarify the Company's position in this matter.

To read the complete January 18 statement from NETELLER, click here.

Read Related Articles:

  • NETELLER Founders Arrested by FBI, Charged with Money Laundering
  •  

     
     

    More Poker News Articles

    PokerStars Launches New UK and Ireland Poker Tour
    12am Wed Nov 4th, 2009

    PokerStars.com has announced the start of a new poker tour with stops throughout the United Kingdom and Ireland. The UK and Ireland Poker Tour (UKIPT) will kick off in Galway, Ireland in mid-December, and the first event in the UK will be held in Manchester in February.

    Peerless Media Agrees to Purchase World Poker Tour Enterprises
    12am Mon Nov 2nd, 2009

    According to a Monday press release, WPT Enterprises Inc., mothership of the World Poker Tour, is now the rightful property of Peerless Media, Ltd., subsidiary of online giant PartyGaming.

    Tiffany Michelle and Maria Ho Hit the Amazing Race Rail
    12am Mon Nov 2nd, 2009

    After surviving six legs of the Amazing Race by the skin of their teeth, poker pros Tiffany Michelle and Maria Ho were finally eliminated in the CBS reality show's most recently aired episode. Michelle and Ho, the last women standing in the 2008 and 2007 World Series of Poker Main Events, gave reality television fans another chance to watch poker personalities compete away from the felt. Annie Duke garnered quite a following earlier in the year on another reality show competition, NBC's Celebrity Apprentice.

    Isaac Baron Dominates Caesars Classic Main Event
    12am Sat Oct 31st, 2009

    Isaac "westmenloAA" Baron ran over the final table of the Caesars Palace Classic $5,000 Main Event, amassing a huge chip lead and going home with the $246,928 first prize. It took two long days to narrow the 162-person field to the final ten. A very high percentage of the entrants were recognizable tournament circuit players, and unsurprisingly, the stacked field produced a tough final table lineup.

    Tonight- ESPN shows Day Before WSOP Main Event Final Nine are Set- Oct 27
    12am Tue Oct 27th, 2009

    Tonight (Oct. 27) at 9pm ET, ESPN will broadcast highlights of action on the day before the Final Table of the 2009 World Series of Poker (WSOP) Main Event was set. Only 27 players remain when this one-hour show begins.

    Frenchman Wins PokerStars EPT Warsaw Poker Tourney
    12am Mon Oct 26th, 2009

    At the PokerStars European Poker Tour Warsaw No Limit Texas Hold'em main event that wrapped up yesterday, French businessman Christophe Benzimra finished first taking home 358,644 Euros in prize money, while Italian poker pro Alfio Battisti finished second in the tournament.

    Vedes Conquers WPT Festa al Lago Final Table
    12am Mon Oct 26th, 2009

    Tommy Vedes is the WPT's newest champion! Vedes outlasted 274 players to win the Festa al Lago title and the $1,218,225 first prize. Freddy Deeb, who began the final table with the chip lead, hoped to win his third WPT title and tie Gus Hansen's record. Instead, Deeb was forced to settle for 4th place, leaving room for a new WPT champ. Click here for in-depth coverage of the action and photos from the final table.

    Will Hungarians Get Taxed on Poker Soon?
    12am Mon Oct 26th, 2009

    Hungarian lawmakers have plans to tax poker winnings and regulate clubs to generate much-needed revenues during the country's worst economic crisis since the end of communism, reports Germany's Deutsche Weele.

    Freddy Deeb Leads World Poker Tour Final Table
    12am Sun Oct 25th, 2009

    The WPT Festa al Lago Main Event is down to the final six after five tough days of play. Two-time WPT champion Freddy Deeb brings the chip lead along with the benefit of his under-the-lights experience into Monday's televised final table. Deeb previously won the WPT Season III Aruba Poker Classic and the Season VII Celebrity Invitational. He also owns two World Series bracelets and has amassed over $6 million in tournament winnings. A win on Monday would add $1,218,225 to that total. Click here for photos from the felt and final table chip counts.

    11 Remain in WPT Festa al Lago Main Event
    12am Sun Oct 25th, 2009

    The fourth day of the Festa al Lago WPT $15,000 Championship began with 37 players, just ten eliminations away from the money. Though action was painfully slow at times, it hit break-neck speed before the end of the night, leaving only 11 players standing heading into Day 5. Click here for Day 4 photos and chip counts.

    Download Poker Software
    PokerPages
    Newsletter
    Online Poker »
    Poker News »
    Blog Coverage


    Top News
    Top Tournaments