Financial Times FT.com

Neteller gaming funds seized in US

By Roger Blitz, Leisure Industries Correspondent

Published: February 9 2007 02:00 | Last updated: February 9 2007 02:00

US prosecutors have seized up to $55m (£28m) of Neteller transactions and left the payment processor unable to pay its US customers,.

The arrest last month of Stephen Lawrence and John Lefebvre, its two Canadian founders, charged with handling billions of dollars of illegal gambling money, led to the suspension of its shares and its withdrawal from of the US.

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