FBI freezes funds of 'virtual wallet' web payment firm

Guardian UK ^ | Feb. 6, 2007 | Simon Bowers

[seacapn]

The FBI has frozen funds held in customer accounts at Neteller, the "virtual wallet" payment processor, as part of its case against the firm's two Canadian founders who were last month arrested and charged with racketeering and money laundering.

Neteller refused to disclose how much had been frozen but company filings make clear huge sums were flowing between its US customers' "e-wallets" and online merchants - particularly gambling websites - up until the firm was pressured to close its American operations in the wake of last month's arrests. Over a six-month period last year the company processed transactions worth $5.1bn (£2.6bn), with about 85% involving US customers.

Article continues Less than three weeks ago, Neteller said in a statement to the stock exchange: "The funds of US resident customers are held in segregated trust accounts and are fully secure and will be available for withdrawal by customers on demand."

Since then, advice on the group's website makes clear customer withdrawals have now been blocked.

[seacapn]

Your government in action, freezing the assets of American citizens who dared play a little poker after work...

According to the FBI, "Some money may be returned to Neteller customers but no timescale was forthcoming..." (italics are mine).

[Pondman88]

idiotic. no wonder we lost in 06.

[frogjerk]

Poker Ping!

Freepmail me if you want on the Poker Ping list.

[SubGeniusX]

I am so glad that we have won the WOT so that the Feds can now focus on these more pressing issues...

[JamesP81]

According to the FBI, "Some money may be returned to Neteller customers but no timescale was forthcoming..."

Translation: "We now have your money, and if we feel like it, we'll steal it from you and there's nothing you can do about it."

[philsfan24]

we live in a country where its legal to murder an unborn child but illegal to play a game of poker.

[JamesP81]

Outrageous government overreach ping.

[SubGeniusX]

Thank you Mr. Frist for being my Moral Guide ... I know that my eternal soul (and that of my children) would surely perish without you ....

[SubGeniusX]

for the Libertarian ping ...

[Phantom Lord]

Thanks to Mr. Frist I now have to spend time with my wife and kids at night instead of spending that time online playing poker.

Damn you Mr. Frist! You ruined my life!

[GLDNGUN]

Thanks to Mr. Frist I now have to spend time with my wife and kids at night instead of spending that time online playing poker.

Then evidently you are not capable of making decisions on your own. Do you also ask Mr. Frist if you can go to the bathroom?

[Phantom Lord]

Do you also ask Mr. Frist if you can go to the bathroom?

Being that he is no longer in the Senate, it is causing me great problems. Without him there to guide me on a whole host of matters, I am truly lost and spiraling out of control.

Help me Bill Frist!

[sbMKE]

we live in a country where its legal to murder an unborn child but illegal to play a game of poker unless offered by an indian tribe and/or fully licensed and taxed casino.

[Froufrou]

Hmmmm...thanks for the warning! Bye, Pay Pal...

[mgstarr]

At least he doesn't cover up statues.... which really isn't saying that much.

The Fibbies aren't independent law enforcement, they're highly politicized and controlled.

[unixfox]

we live in a country where its legal to murder an unborn child but illegal to play a game of poker.

Pitiful isn't it, you would think they would find a way to tax the abortions. But no, they have to worry about the REALLY evil people like gamblers, smokers, seat belt violators, jay walkers, etc,etc,etc.

[SubGeniusX]

dude careful on the Ashcroft ... breast thing ... I got called a troll last time I brought that up ...

[mgstarr]

Ah no worries there. Been here long enough and called worse things from time to time. I've earned my stripes and can suffer a few arrows from newbie neocons/sociocons.

[TADSLOS]

In the meantime banks in the U.S. solicit illegals as customers with the enticement of opening an account without an SSN (hence no way to trace taxable income). It pays to be an illegal, but not a legitimate citizen who plays poker online. Our gubmint at work folks.

[traviskicks]

Libertarian ping! To be added or removed from my ping list freepmail me or post a message here.