16-01-2007 NETeller founder and former chairman charged in the US with money laundering

The US Attorney General for the Southern District of New York said John Lefebvre and Steve Lawrence, both Canadian citizens, have been arrested in connection with the creation and operation of an internet payment services company that facilitated the transfer of billions of dollars of illegal gambling proceeds from United States citizens to the owners of various internet gambling companies located overseas.

The investigation started in June 2006 and led by FBI Special Agent Maryann Goldman claims NETeller conceals the nature of gambling transactions using a combination of payment and shell companies to transfer money in and out from the United States.

According to US Attorney Michael Garcia, when Lawrence and Lefebvre helped take NETeller public in 2004, they were fully aware of the illegal nature of their business and that they were risking prosecution by the Government of the United States under existing or future federal laws.

"Criminal prosecutions related to online gambling will be pursued even in cases where assets and defendants are positioned outside of the United States," said Garcia.

Neteller requested an immediate temporary suspension of its shares on the London Stock Exchange.