Wed, Jul 18th 2007 5:08pm
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.
If you liked this post, you may also be interested in...
- NY Attorney General Shuts Down Daily Fantasy Sports Sites, Because Grandstanding
- Judge Tells Plaintiff That Paying Real Money For Virtual Gold Doesn't Somehow Lead To Gambling Law Violations
- Nevada Predictably Declares Daily Fantasy To Be Gambling
- Quebec Looking To Force ISPs To Block Gambling Sites In Order To Protect Its Own State-Run Gambling Portal
- Senators Goad DOJ Into More Pointless Online Gambling Takedowns