Former Neteller Execs Charged With Money Laundering
Former Neteller directors Stephen Lawrence and John Lefebvre have been charged with conspiracy and money laundering in connection with illegal gambling.
United States Attorney for the Southern District of New York, Michael J. Garcia says in a prepared statement that Lefebvre and Lawrence were charged in connection with the creation and operation of an Internet payment services company that facilitated the transfer of billions of dollars in illegal gambling proceeds from U.S. citizens to the owners of overseas Internet gambling companies.
The two men, who are also major shareholders in the company owning as much as 35 percent in outstanding shares, were arrested on Monday while traveling separately.
The complaint cites Neteller's 2005 annual report, alleging that Lawrence and Lefebvre enabled the company to provide payment services to more than 80 percent of worldwide gaming merchants.
Further, the complaint says that Neteller in 2005 alone processed more than $7.3 billion in financial transactions, 95 percent of which was derived from money transfers involving Internet gambling.
Lawrence and Lefebvre could face a maximum prison sentence of 20 years if convicted.
Source: Interactive gaming news
United States Attorney for the Southern District of New York, Michael J. Garcia says in a prepared statement that Lefebvre and Lawrence were charged in connection with the creation and operation of an Internet payment services company that facilitated the transfer of billions of dollars in illegal gambling proceeds from U.S. citizens to the owners of overseas Internet gambling companies.
The two men, who are also major shareholders in the company owning as much as 35 percent in outstanding shares, were arrested on Monday while traveling separately.
The complaint cites Neteller's 2005 annual report, alleging that Lawrence and Lefebvre enabled the company to provide payment services to more than 80 percent of worldwide gaming merchants.
Further, the complaint says that Neteller in 2005 alone processed more than $7.3 billion in financial transactions, 95 percent of which was derived from money transfers involving Internet gambling.
Lawrence and Lefebvre could face a maximum prison sentence of 20 years if convicted.
Source: Interactive gaming news
posted by Ace In The Hole at 11:59 PM
0 Comments:
Post a Comment
<< Home