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NETeller Blames U.S. Authorities

At this point some U.S. based players who had their NETeller accounts frozen because of the U.S.’s online casino ban are probably considering the funds long-gone. After all, NETeller hasn’t been great with updating the public, shareholders, and others with a vested interest in the company. NETeller accounts were frozen earlier this year as was the company’s London stock trading. In the following months though, press releases released by the company offered vague promises and no concrete information concerning the U.S. Department of Justices investigation.

Now thought the company has surprised many by issuing a press release that actually updates shareholders a little on the company’s progress. And though the news isn’t good – the 2006 report on audited accounts will not be finished by June 30, 2007 – at least it’s some information. NETeller is based out of the Isle of Man and has had a very long and drawn-out investigation process with the U.S. Attorney’s Office in New York.

Another update for the online casinos players who used NETeller and regular patrons who used the company for e-purchases just found out that once their funds are released, the company has no plans to pay interest on the $55 million in frozen player monies. And though that has to sting for some, most just want to know when. But another date was given to those interested, the company hopes to have the investigation and involvement with the U.S. authorities done by July 13, 2007. So just a few more weeks and online casino players could get their funds back.