Neteller Founders Arrested and in US Custody
Last week when Pinnacle Sports unexpectedly pulled out of the US market the industry was left with their mouths agape. The escape by the industry's leading sportsbook led many to wonder what led to such a hasty and untimely departure.
Monday, more flames were fueled in the Internet gambling fire following the arrests of the two founders of Neteller, Steve Lawrence and John LeFevre.
The two were reportedly arrested in their US homes early Monday and no details have been discovered as of yet. Each founder is understood to still hold large amounts of holdings in the company, although neither are still active members of Neteller.
At the time of this article's release no charges were said to have been brought upon the two and no statements have been released by Neteller, or the personal attorneys of LeFevre and Lawrence, as to the reasons behind their arrests. The ramifications of the arrest on the functions of Neteller are also still unknown.
Neteller is a publicly traded London online banking company based out of the Isle of Man. It is the main source used by online gamblers across the US and across the world to fund gambling accounts.