Neteller announced today that they, “signed agreements with the USAO and Navigant which, among other things, outline terms and a timeline under which NETELLER will work toward the orderly distribution of funds to its US customers.”
The new agreement says that they’ll announce a plan to refund our money within 75 days.
U.S. members funds were initially frozen early February when the government pressured Neteller to not allow U.S. citizins to use their service.
Wednesday, 21 March 2007 â€“ The NETELLER Plc Group (LSE: NLR), the leading global independent online money transfer business, today announced that it has signed agreements with each of the United States Attorneyâ€™s Office for the Southern District of New York (â€œUSAOâ€) and Navigant Consulting, Inc. (â€œNavigantâ€).
On 8 February 2007, the Group announced that it was in discussions with the USAO to manage an orderly return of funds to US customers and that it was contemplated that a forensic accounting firm would be engaged, at the Group’s expense, to assist in this process and to examine the Group’s financial position.
The Group is pleased to announce that on 20 March 2007, it signed agreements with the USAO and Navigant which, among other things, outline terms and a timeline under which NETELLER will work toward the orderly distribution of funds to its US customers. Per the agreements, the Group anticipates that within the next 75 days it will announce a plan by which the funds will be distributed to US customers. Navigant will also provide a report to the USAO on the Groupâ€™s current financial condition.
â€œWe continue to be committed to returning funds to our US customers and working with the US Attorneyâ€™s Office,â€ said Ron Martin, Group President and CEO. â€œProgress, while not always visible to the outside observer, has been steady and these agreements mark a milestone in the process.â€
NETELLER is continuing to cooperate with the USAOâ€™s investigation, under the advice of its legal advisers and in accordance with court orders in the Isle of Man.