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NETeller Buys An Expensive 'Get Out Of Jail Free' Card

from the justice-is-served dept

Wed, Jul 18th 2007 5:08pm — Joseph Weisenthal

What does it take to avoid the wrath of the US government and its war on online gambling? In the case of NETeller, the online payment service that helped many US citizens fund online gambling accounts, it only needed to pony up $136 million, before being let on its way. By forfeiting that money and admitting guilt, NETeller can now resume business, provided it doesn't facilitate online gambling any more. Unfortunately, the company's founders weren't so lucky, as they'll be doing time for the crime of running the business. The settlement is also good news for customers in the US who have seen their money frozen on the site. With the settlement, NETeller is now clear to disburse the money back.

Filed Under: gambling
Companies: neteller

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Overcast, 18 Jul 2007 @ 5:30pm

Oh, but it's ok to play the lottery.

Just no 'Non-Official' gambling. Soon it will be no 'Non-Official' Speech, or no 'Non-Official' food.
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John, 18 Jul 2007 @ 5:48pm

Re:
Really, the US government should stop wasting it's time trying to fight online gambling. There are problems in the world and online gambling isn't one of them.
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ScaredOfTheMan, 18 Jul 2007 @ 5:54pm

Never did understand that?
Gambling is simple a game of risk played with money.

I don't understand why, if its so bad to bet on sports or other things do we allow:

The Entire State of Nevada
Any sort of Lottery
Native American Casinos
Casino Cruises to no where
The Stock Market
The mutual fund market
The futures market
or any currency market

Isn't all the same, you can lose you a$$ or win big in any of these things. So why single out online gambling? could it be because the government is not getting its piece of the action, like it does (directly or indirectly) from the rest.

It just seems like hypocrisy to me.
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Anonymous Coward, 18 Jul 2007 @ 6:01pm

Re: Re: wasting time
It's not a case of politicians wasting time. It's politicians paying back donors for their generous contributions, and future lobbying jobs.
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Shalkar, 18 Jul 2007 @ 7:32pm

My Opinion is:
Who cares about gambling! Worry about "hardcore" drugs that take needles, global warming and the price of gas! THAT is something time worthy! Gambling? So what! Online gambling just means when you lose the shirt off your back, you have to mail it to them! ;P
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RB, 18 Jul 2007 @ 9:09pm

Online Gambling
The US law is so stupid...
You cant put a gate around the Internet....Bush is an idiot and so are the Senate and Congress.
So, porn is ok I suppose?
Is this some law that was funded by casinos in Vegas and Atlantic City to protect their interests?
Trump, Wynn, and others involved?
You betcha...the "law" is nothing but just bribes being paid to top officials...BIG MONEY being passed from Vegas to congressman...the guy who wrote the bill, I can guarantee you took lots of bribes....
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senator blutarski, 21 Jul 2007 @ 7:13am

neteller
Once again the us has shown it's hypocrisy. It's ok to slaughter human beings but gambling, no way! Bush and his bible thumpers are total idiots.
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lock up, 3 Jan 2010 @ 10:54pm

neteller
FOr neteller it wasn't about gambling. It was about money laundering and tax avoidance. They went to great lengths to move money around many countries under false company names. They even had the balls to publish in their prospectus that their business violates US law. And why isn't every executive with this company in jail? Money talks. Why is it that 2 bit uneducated black american fill jails for stealing less than $25? No money.
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