Neteller Halts Trading On The AIM

[buddy]

Neteller halts trading on the AIM

Money transfer giant Neteller said on Tuesday that Stephen Lawrence and John Lefevre were detained by US authorities sometime Monday.

NETeller, based out of the Isle of Man, is publicly traded on the London exchange (AIM) and states on their website they are "the world's largest independent money transfer business". The most recent annual report states that the company took in revenues of $172.1 Million.

Attempts to contact Neteller for comment where not immediately responded to other than one live chat Customer Service agent saying "What??????" when asked about the reports. This was immediately followed up by a statement to contact compliance@Neteller.com.

John Lefevre, otherwise affectionately know as "Big John", in the industry, was know to travel regularly to the US to his wife?s birth place of Southern California, which is reason for his presence in the US and where he was arrested. Little is known , at this time, why or what Mr Lawrence was doing in New York, where he was apprehended.

Lawrence and Lefevre both stepped down as non- executive directors of Neteller as recently as May, 2006.

This news is in the wake of Pinnacle Sportsbook, one of the most popular US directed online sportsbooks, voluntarily announcement that it would be withdrawing from the US market, previously this week.

Neteller is a legal and licensed money processing company located in, and governed by, the Isle of Man. The announcement to halt trading on the London Stock exchange is pending a further press release by Neteller later in this trading day. Neither men have been charged with a crime. Currently, the only US law that Neteller is possibly breaking, is aiding and abetting illegal gaming

This story is breaking. Please continue checking in for updates.

 

[1837]

What is going in the US??? Are your guys at FBI mad???:shrug: There is much more important problems to deal for than to go after small gamblers or cie like Neteller NO? :shrug:

It looks like if there was a HUGE witch hunt in the USA....:scared :shrug:

 

[buddy]

Regulatory Announcement

Go to market news section

Company NETeller PLC
TIDM NLR
Headline STATEMENT RE FORMER DIRECTORS
Released 07:30 16-Jan-07
Number 5751P



RNS Number:5751P
NETeller PLC
16 January 2007

STATEMENT REGARDING FORMER DIRECTORS

NETELLER Plc, the leading independent online money transfer business, today
issued the following statement regarding the speculation surrounding two of its
former directors and founder shareholders, Mr Stephen Lawrence and Mr John
Lefebvre.

While travelling separately in the US, Mr Lawrence and Mr Lefebvre, both former
directors of the Company, were detained by US authorities on Monday, 15 January
2007.

Other than as shareholders, neither Mr Lawrence nor Mr Lefebvre has any current
position with or connection to NETELLER.

The Group has not received any communication or correspondence from any US
authority regarding this or any related matter.

Pending clarification of the situation the Board has sought immediate temporary
suspension of NETELLER's shares.

Further information will be issued in due course.

Enquiries:
NETELLER
Andrew Gilchrist, VP - Communications + 44 (0) 1293 555 726

Citigate Dewe Rogerson + 44 (0) 207 638 9571
Sarah Gestetner/Sebastian Hoyle/George Cazenove

Further information

Mr Lawrence resigned as a non-executive director of the Company on 13 October
2006 having stepped down as non-executive chairman of the Company on 11 May
2006. Mr Lefebvre resigned as a non-executive director of the Company on 15
December 2005.


Mr Lawrence is the majority beneficial owner of Corvina International Ltd. which
holds a total of 7,085,541 ordinary shares representing approximately 5.91% of
the issued share capital of the Company. Mr Lefebvre is the beneficial owner of
Eagle Medallion Fortress Investment Corporation which holds a total of 6,638,094
ordinary shares representing approximately 5.54% of the issued share capital of
the Company.

Notes to Editors

The NETELLER Group
With over 3 million customers in 160 countries, 3,500 merchants, and over
$7 billion in annual transactions, the NETELLER Group operates the largest
independent online money transfer business in the world. The Group specializes
in providing innovative and instant payment services where money transfer is
difficult or risky due to identity, trust, currency exchange, or distance.
Being independent has allowed the Group to support thousands of retailers
and merchants in many geographies and across multiple industries.

The Group is quoted on the London Stock Exchange's AIM market, with a ticker
symbol of NLR. NETELLER UK Limited is authorised by the Financial Services
Authority (FSA) to operate as a regulated e-money issuer. For more information
about the Group visit NETELLER Group: Creating the Global Freedom to Manage and Move Your Money.




Regulatory Announcement

Go to market news section

Company AIM
TIDM NOT
Headline Suspension - Neteller plc
Released 07:30 16-Jan-07
Number 5752P


NOTICE
(34)
16/01/2007 7:30 am
TEMPORARY SUSPENSION OF TRADING ON AIM
NETELLER PLC

At the request of the company trading on AIM for the under-mentioned securities has been temporarily suspended from 16/01/2007 7:30 am pending an announcement.

Ordinary Shares of 0.01p each

fully paid
(3426454)(GB0034264548)

If you have any queries relating to the above, please contact the company's nominated adviser on 020 7991 8888.

Ref: AIMNOT34

END


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Another successful offshore company taken down by US. Another foreign stock destroyed by United States. People trying to make an honest living possibly losing their jobs because of US. Millions of dollars lost by investors of NT. No, people are not dying, but this is a form of terrorism nonetheless. These people are not criminals. They are businessmen. What goes around comes around. We will get ours probably sooner rather than later. Pissing off a lot of people around the world.
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Dell Dude


Gambling firm founders held


Julia Kollewe
Tuesday January 16, 2007
Guardian Unlimited


The American authorities have swooped on the founding shareholders of NETeller, the company which specialises in money transfers between online gambling sites and players.
Stephen Lawrence and John Lefebvre, both former directors of the firm, were detained in the US yesterday, while travelling separately.

NETeller called for a suspension of trading in its shares as it revealed the shock development this morning.

The online payment group said neither Mr Lawrence nor Mr Lefebvre has any current position with or connection to NETeller, other than as shareholders.


Shares in the Isle of Man-based firm closed at 176p on Monday, valuing it at around ?211m. Its shares have plunged by 60% since early September as it became embroiled in the US crackdown on online gaming.
Today it said it "has not received any communication or correspondence from any US authority regarding this or any related matter.

"Pending clarification of the situation the board has sought immediate temporary suspension of NETeller's shares."

Most online gaming companies have pulled out of the US market since new legislation was passed in October barring banks from processing transactions involving internet gambling.

The law came after two executives of internet gaming companies were arrested in the US over the summer, BetonSports' chief executive David Carruthers and Sportingbet's non-executive chairman Peter Dicks.

Mr Lawrence resigned as a non-executive director of NETeller on October 13, having stepped down as non-executive chairman on May 11 last year. Mr Lefebvre resigned as a non-executive director on December 15 2005.

Mr Lawrence holds a 5.91% stake in NETeller through his investment vehicle Corvina and Mr Lefebvre owns 5.54% of the company through Eagle Medallion Fortress.

NETeller has more than 3 million customers in 160 countries and processes more than $7bn (?3.55bn) in transactions a year.
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