Neteller's Lawrence Gets Bail, Neteller Employees in Trouble

Both bails for the two Neteller employees have now been set, both at a staggering $5 million and Neteller employees could also be in big trouble.

As everyone in the industry knows by now, the two founders of payment processor Neteller, John Lefebvre and Stephen Lawrence, were arrested on Monday while traveling through US airports.

Lefebvre faced a judge on Thursday and was given a bail of $5 million, and on Friday Lawrence faced a US judge in the Virgin Islands and was given the same bail. They each will lose their traveling papers and documents once they get to New York to face their trial in a Magistrate's Court.

According to Manhattan federal prosecutors, Lefebvre and Lawrence are officially being charged with conspiracy to transfer funds with the intent to promote illegal gambling.

Lawrence has been ordered to restrict his travel to the local area of New York once he arrives there possibly later today.

Lefebvre has met his bail conditions and is expected to arrive for a court appearance in New York early next week, prosecutors said.

Neteller employees are expecting a huge layoff as a result of these arrests which caused the company to suddenly withdraw their acceptance of US facing transfers to gambling related entities.

The US portion was said to currently make up 60% of the company's business. It was reported that over 300 Neteller employees who serve as customer support representatives could be laid off as they will no longer be needed.

January 19, 2007
Posted By Susan Torres
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!