Neteller boss apologises to US cstomers
 August 3, 2007, 3:21 pm (1 year ago)Neteller chief executive officer Ron Martin appeared in a video statement on Youtube this week to apologise to United States customers who had to wait months for money owed to them.
The embattled Isle of Man-based e-wallet was unable to pay out to clients after a very public spat with the United States Department of Justice.
Neteller consented to a Deferred Prosecution Agreement (DPA) with the United States Attorney’s Office for the Southern District of New York.
It agreed to pay a $136 million penalty to the US as Neteller founders Stephen Lawrence and John Lefebvre pleaded guilty to a number of charges, including criminal conspiracy.
And Neteller showed it was committed to keeping its side of the bargain as it this week began to refund $94 million owed to US players that had been on ice since January.
An estimated $40 million was refunded on the first day alone, although some customers may have to wait a little longer to get their money back.
Martin said in his statement that he had been closely following public opinion on the case while it was ongoing and apologized for the lack of communication with customers, saying the sensitive nature of the case called for the company to remain tight-lipped.
He said the company was now busy trying to regain the trust of customers around the world.
Despite the heavy fines imposed on Neteller and the large amounts now being refunded, analysts believe that the e-wallet remains in a good position in the online gambling market as it tries to grow its business further outside the United States.
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