NETeller on the Brink: Gambling911 Advisory for all Non-US Customers  

We've said it once and we are going to repeat since a number of people haven't quite caught on.  If you are a non-US citizen using third party payment solution, NETeller, Gambling911.com strongly advises you to stop utilizing this service immediately.

We continue to read how gamblers are using NETeller outside the US, despite reading about all the issues surrounding this crumbling company - once the largest of its kind in online gambling.  Over $5 mil in US customer funds have been withheld and Gambling911.com believes at this time that this money will never be returned to customers. 

Yesterday, NETeller laid off 250 people. 

"These 250 layoffs are still ongoing," claims one NETeller manager, who wished to remain anonymous.  "There were more on Friday and more of us will be leaving at the end of the month.  Even executives are leaving."

The North American President, Gord Forbes, is said to be on his way out the door the end of this month as well as Dale Johnson who is VP of Asia operations. 

"And of of the Higher up's in Finance are also toast!," this manager stated. 
"I've never seen anything like this in all my years of Security work. But I guess on one upside, they realized they terminated/laid off too many Call Center Reps that a hand full are being hired back on."

The US Attorney’s Office for the Southern District of New York have decided to extend the deadline on whether to indict the Neteller founders Stephen Lawrence and John Lefebvre.

Both men were charged with transferring billions of dollars in illegal gambling proceeds, and will not be heard in court until March 16, 2007. All US customers will now have to wait at least a month to recover their money that would have otherwise been spent on casino and gambling websites.

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Christopher Costigan, Gambling911.com

Originally published February 17, 2007 11:32 am ET