NETeller founders John Lefebvre and Stephen Lawrence were arrested and charged with processing gambling proceeds. The pair illegally handled and processed billions of dollars generated from online gambling. Details for the arrest are unclear but it is known that prosecutors are pushing for a maximum sentence of up to 20 years. Many popular online gambling websites (Full Tilt Poker, PartyGaming, Pokerstars and Sportingbet) rely on NETeller, a business that operated in the Isle of Man (away from U.S. jurisdiction), for processing payments from customers.
News source: DailyTech
News source: DailyTech
This is why it's illegal, if the gov't can't get their cut then it's illegal, George W needs more $$$ to help pay for Iraq war.
That just goes to show how little most people understand about poker.
Live poker isn't a house game: it's an actual game of skill where the players compete against each other and the player with the best hand (or the best bluff) takes the pot. The house never wins. It makes its money by taking a small percentage of each pot, called the "rake", which is generally around 5% of the pot to a usual maximum of $3.00.
Online poker of the kind referenced above is a version of "live" poker – not to be confused with video poker, where players are playing a kind of poker slot machine. In this case, the house always wins, and you might as well be flushing your money down the crapper.
This is why it's illegal, if the gov't can't get their cut then it's illegal, George W needs more $$$ to help pay for Iraq war.
Please take your ignorance elsewhere. Any person with half a brain already knows that the US Government would still be after the money no matter who was in office....Republicans/Democrats alike.
It is a remarkable intrusive law, can't believe America have been applying it so strictly.
Last edited by mikmo on 20 Jan 2007 - 10:12
Uh, except they didn't. In the country they are based in it is perfectly legal. Yet another example of the 'World Police' forcing their beliefs on other countries.
Uh, except they didn't. In the country they are based in it is perfectly legal. Yet another example of the 'World Police' forcing their beliefs on other countries.
Exactly, legal almost every where in the world, US decide they don't like it and suddenly 10's of legitimate UK (and other) business men are arrested.
First of all, these founders have not had anything to do with Neteller for several years.
Second of all, the loss of online merchant services such as Neteller, Citadel, Central Coin, etc. is US only and has been coming for months now.
Lastly, this news has been out for days now.
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