More Bad News for NETeller as Asian Pacific Director Resigns

Dale Johnson retired from his position as executive director and has become a non-executive director of NETeller, according to Point-Spreads.com (read article here)

The company has re-iterated plans to conquer the Asian market after wiping out its entire US and Canadian customer base, said to be approximately 90 to 95 per cent of its overall business.

Last week, the troubled third party payment processor laid off one of its original employees, a woman who acted as liaison between merchants and NETeller in heavily online gambling saturated Costa Rica.

NETeller released a statement last week in regard to how China is making huge strides online while failing to mention that country has banned online gambling. 

NETELLER is pleased to introduce its proven localised payment solution for Asia, NETELLER China. Previously known as 1-PAY and now integrated with our global service, NETELLER China offers the convenience of a NETELLER e-wallet tailored to the specific needs of the Chinese market.

The irony is that in many ways China is even more oppressive when it comes to the Internet and online gambling than is the United States and NETeller continues to operate there.  Go figure!

On April 16, the US Government will determine if it is to go through with a case against two NETeller co-founders.

Millions of dollars is currently being withheld from US clients.  NETeller claims that all monies will be paid within the next two months. 

Mr Johnson was appointed Vice President - Corporate Development of the NETELLER Group in March 2004. Mr Johnson has over 30 years of experience that includes corporate leadership, operations management, business development, project management, and turnarounds in both private and public companies.

He was one of the founding shareholders and a Principal of Tri Ocean Engineering Ltd., a highly successful oilfield engineering firm. Mr Johnson founded and served as President of Alpeco Limited, a specialized oilfield equipment packager. In recent years, he has engaged in interim leadership roles to assist companies seeking financial turnaround. Mr Johnson received Bachelor and Masters degrees in Engineering at the University of British Columbia and a Management Diploma from the University of Calgary.

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Christopher Costigan, Gambling911.com

Originally published April 3, 2007 11:23 am ET