Neteller Share Discussion Threads

[shaunoneill29] 11/7/2007 16:53

How can anyone keep the faith, the day this relists is going to be one wild trading day.

[polaris] 11/7/2007 16:20

Atomic dog - no doubt we will get our answer soon enough as the plea bargains mean that USAO and NLR must be able to come to some agreement on where to go from here.

I am just hoping that both directors are only forced to give up their current holdings in NLR as fines. NLR then buy back the shares from USAO and cancel them to pay the fine in cash plus NLR pay for the accounting firm probe. that is probably wishful thinking though...

[shaunoneill29] 11/7/2007 16:16

what makes you think the DOJ will listen to the EU?

[imprima2] 11/7/2007 16:02

bust and trade sale to former directors?

[atomic dog] 11/7/2007 15:49

polaris - the $55 million held up is US customers money in process of being transferred, it doesn't belong to Neteller, it is being held by the US banks as payable to Neteller customers if and when authorised by the DOJ. So if it is confiscated, Neteller will tell these customers their money has been confiscated by the DOJ surely? I can't see how this would tally with the US DOJ agreeing a process for return of funds to customers. Neteller may get a fine yes, but to be paid out of their own money not money being returned to customers. Anyway if the fine is for a silly amount (like $100 million ) Neteller should just say they have done nothing illegal in the Isle of Man and refuse to pay. The DOJ is trying to get a result without a Court case, which they think they would lose. Hence they have bullied Lefbvre and Lawrence into accepting guilt, no doubt by telling them they will be let off with a small fine in due course.

Its time Neteller got the EU to weigh in on their side with a hefty claim for compensation. No EU laws have been broken yet the company has been shattered.

[shaunoneill29] 11/7/2007 14:49

How are NLR in the clear when it happened thy owned a stake of the company and that was what the company did back then, i bet NLR will have to find at least another $40m plus the $55m that the DOJ hold and the two ex directors will pay the rest.

Things are not looking good.

[8clive] 11/7/2007 14:24

The two founder members who have pleaded guilty, made several hundred millions by selling neteller shares back when they were around £7.

Neteller has already paid the price in the fall of its mkt cap.

The us wants a hundred mill, I think.

The fine could only be aimed at the founders, with neteller in the clear.

[polaris] 11/7/2007 14:04

Its the same $55m (my reading of your post is that it would effectively cost NLR $110m)...but yes i get the feeling that NLR are not going to see the frozen funds again.

Maybe the fact that they cooperated with the probe and are already paying for the forensic accounting company will work in their favour and any fine will be smaller - i think we will know soon enough!

Paul

[sabre1_98] 11/7/2007 13:58

so polaris are you saying the DOJ will seize the 55m of customers funds and then NLR will have to pay out another 55m to reimburse customers?

[richardsj] 11/7/2007 13:09

Read into this - it seems that the US Govt is seeking $100m related to fines and restitution for past events - of which the 2 defendants are agreeing to be partly responsible.
Neteller itself has not been charged so a good bet is that it would be difficult to penalise current shareholders who bought in recently and had no part in the the original equity structure. There would be a field day with the lawyers in trying to financially penalise this fresh group.
I wouldnt't be surprised to see a token financial 'settlement' by nlr or there being also responsible for a share of the $100m...

[roverisback] 10/7/2007 21:25

good news really...can move on now

[fxdealer3] 10/7/2007 19:53

Bad news !!

Guilty plea in Neteller case


NEW YORK (AP) - A Canadian man who helped create a company to process
Internet gambling transactions pleaded guilty to a federal conspiracy charge
Tuesday, about two weeks after another founder of Neteller PLC entered a guilty
plea of his own.
John David Lefebvre, 55, a Neteller co-founder, entered the plea in U.S.
District Court in Manhattan, where prosecutors are trying to stop companies that
operate overseas from violating U.S. laws against Web-based gambling. Neteller
PLC is based in the Isle of Man.
In a plea deal, he agreed to cooperate with prosecutors and testify if
necessary. He also agreed to be partly responsible for the $100 million the
government is seeking in restitution.
Although the conspiracy charge carried a potential prison term of up to five
years, cooperation in the case was likely to greatly reduce any potential
sentence.
The government has said that nearly all of the $5.1 billion in transactions
processed in the first half of 2006 involved online gambling -- and most of the
revenue was generated by U.S. customers.
Lefebvre said he agreed in 1999 to help create a set of companies that
became Neteller.
Although the companies were originally created to enable the transfer of
money online, the majority of the business eventually focused on Internet
gambling transactions, he said. By March 1, 2004, the company had nearly 170
employees, 600,000 member accounts and 1,000 merchants registered.
He said he later "came to see that providing online services for gambling
customers in the United States was wrong."
Neteller co-founder Stephen Lawrence previously pleaded guilty to criminal
conspiracy, saying he learned as well that providing payment services to online
gambling Web sites serving customers in the United States was wrong.
Both men were arrested in January after a probe of the company. Days after
the arrests, the company, which was founded in 1999, stopped handling
transactions for U.S. customers.
Lefebvre and Lawrence are no longer on the company's board of directors.

[kluk069] 08/7/2007 08:22

Paf has just restarted trading having been suspended since mid december - the six months delist is therefore clearly not a formality.

[dan1man] 06/7/2007 22:00

I don't think delist after 6 months is a formality is it? I thought a co can request not to be.

[roverisback] 06/7/2007 21:06

yawn.........

[don777] 06/7/2007 12:29

any one guess what will happen next Friday?

[roverisback] 03/7/2007 23:02

scroll down to bottom of page

[dan1man] 03/7/2007 19:13

glad you liked it malg :>)

[roverisback] 03/7/2007 18:58

Takeover target r3vbr 3
Strong takeover target, Google and Ebay are battling it out on the e-wallet market wich means that any small timers like Neteller become easy prey for some 100 billion giant.

If that happens we can see very juicy premiums to current share prices. You can project very high earnings growth.. this share is potentially worth 300p+ if you give it optimistic forcasts for growth and legislation outcomes

[malg] 03/7/2007 16:23

Dan1man - excellent, really made me laugh. Its almost there anyway.

[polythene] 03/7/2007 14:13

Toilet humour and poker, you can't beat it! :-)