BREAKING NEWS: NETeller no longer allows U.S. transactions to I-gaming sites

17 January 2007

Two days after its founders were arrested and charged with money laundering, NETeller announced that it will no longer allow American customers to transfer money to and from Internet gambling companies.

"Due to recent US legislative changes and events, effective immediately, US members are no longer able to transfer funds to or from any online gambling sites," the popular e-wallet's Web site read on Wednesday night.

"All US members will continue to be able to use their NETELLER e-wallet account to safely transfer funds to and from non-gambling merchants and are not required to close their account or withdraw their funds."

NETeller founders Stephen Lawrence and John Lefebvre were arrested on Monday. Lefebvre was released on $5 million personal-recognizance bail on Wednesday morning. NETeller suspended its "Instacash" option to U.S. players yesterday.