Please understand this, the only money that has been seized is money in the hands of third party processors located in the United States. Even though it says pending if you tried to transfer the money. That money might have not even left Neteller's bank in the Isle of Man. Money that was most likely seized is money that transferred right after the first announcement or money that was sent from US bank to Neteller at that time. It is very misleading but does anyone believe the USAO has rights to money located in the Isle of Man from a company that isn't located in the US.
JackStraw77 said:
Of course they have only seized money within the US, but this could be all the EFTs initiated between January 16 and 19th. US $55 million sounds like just too much to have on hand at US processors when that amount can easily be transferred in a day or two. Seems to me like the Feds pickedup all the EFTs.
BTW: I don't believe they have any right to the money wherever located.
$55million was nothing for neteller... They were profiting $150-200mm every 6 months. They are still doing 70 million/year in profit without the US.
They had over 1 million users. They signed up 900,000 in 2006. Probably had like 3 or 4 million total.
Figure average balance of even $500 (I would guess more) and they are holding $2 billion.... The trust funds they actively report to the UK regulators are only for UK accounts.
-Sean
They had over 1 million users. They signed up 900,000 in 2006. Probably had like 3 or 4 million total.
Figure average balance of even $500 (I would guess more) and they are holding $2 billion.... The trust funds they actively report to the UK regulators are only for UK accounts.
-Sean
