Neteller this morning announced that, via a cooperative agreement with U.S. authorities, it anticipates having a plan in place within 75 days to return funds to its U.S. customers.
The company's agreements with the U.S Attorney's Office (USAO) for the Southern District of New York and with independent specialty consulting firm Navigant Consulting, Inc., inked on Tuesday, outline both terms and a timeline "for the orderly distribution of funds," it said.
Neteller also said it continues to cooperate with the USAO's investigations, after announcing on Feb. 8 both its intention to return U.S. funds and engage an independent accounting firm "at its expense" to assist in the process.
"We continue to be committed to returning funds to our U.S. customers and working the with U.S. Attorney's office," said Neteller CEO and group president Ron Martin. "Progress, while not always visible to the outside observer, has been steady and these agreements mark a milestone in the process."
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