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U.S. Settles NETeller Prosecution

Months of investigation into the criminal activities of the international e-wallet, NETeller has finally begun to settle, and with some hefty fines for the company. The United States Attorney’s Office (USAO) is officially taking the position that NETeller was involed in criminal activities intended to facilitate online casino gambling with U.S. players. The press release from the USAO details many of the criminal charges NETeller faces, as well as payments that the online casinos e-wallet has agreed to make.

The co-founders of NETeller were both arrested earlier this year, and though they both await sentencing for their criminal activities related to the online casino gambling industry, both have pled guilty to criminal conspiracy charges. Stephen Lawrence and John Lefebvre, the two men arrested could face both jail time and hefty fines to make up for the millions both the company, and the individuals made during the illegal online casinos activities.

The heart of the issue for the USAO lies in the fact that NETeller purposely and deliberately conspired with other companies and with online casinos to find a way to violate the U.S. legislation known as the Unlawful Internet Gambling Enforcement Act. The UIGEA specifically bans banks and financial institutions from accepting and processing payments from companies involved in the online casino gambling industry – and NETeller worked to conceal the nature of transactions so that U.S. players could continue to participate in internet gambling and so that offshore online casinos had access to the coveted U.S. internet gambling player base.

Micheal Garcia is a U.S. Attorney speaking for the case, and his simple explanation for the U.S.’s case against NETeller and warning to others entering the industry are this: "Supporting illegal gambling is not a business risk, it is a crime, and today's proceedings mark yet another example of the consequences of engaging in that conduct."