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  #1 (permalink)  
Old 01-17-2007, 10:46 AM
all-in all-in is offline
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Default 5 MILLION bail for Neteller founder!

Neteller defendant update

Former Neteller director John Lefebvre has been granted bail after an appearance in court in Los Angeles. According to Rebekah Carmichael, press spokesperson from the US Department of Justice, 'he will be released after satisfying the bail conditions of $5m fully secured by cash or property; pre-trial supervision; surrender of all travel documents; and travel restricted to the Central District of California, except for trips to Southern District, New York for Court.'

The other former director Stephen Lawrence is currently in court in St Thomas in the US Virgin islands, attending an, "advice of rights" hearing.

Both defendants are being directed to appear in this district on January 26, 2007, though this is subject to change.
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Old 01-17-2007, 11:55 AM
jag jag is offline
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maybe i missed it, but what exactly are the charges?
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Old 01-17-2007, 11:57 AM
skilled27 skilled27 is offline
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money laundering. seems the recent bill had nothing to do with their arrests. its been an ongoing investigation.
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Old 01-17-2007, 11:59 AM
(sportman) (sportman) is offline
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Money laundering?

r_o_f


Got to name it something I guess
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Old 01-17-2007, 12:04 PM
skilled27 skilled27 is offline
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I agree, the crimes dont exactly fit the "money laundering" definition but it is what it is

Neteller founders face money-laundering charges | CNET News.com
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Old 01-17-2007, 12:06 PM
jag jag is offline
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5 million seems a little steep for money laundering
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Old 01-17-2007, 12:36 PM
Hartley Hartley is offline
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5 million seems a little steep for money laundering

No shit. Most murderers that get bail pay less than that. I guess they want to make sure he shows up in court.
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Old 01-17-2007, 01:07 PM
buddyboy buddyboy is offline
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Not sure how it works in Canada, but in the US the government will request the judge to set bail at X amount of dollars based on the accused flight risk, crime committed and ability to make bail (can't be unreasonable)

I guy that has 100+ million in assets, not a US citizen, and charged with laundering 7 BILLION dollars... bail 5 million?? sounds about right
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Old 01-17-2007, 01:16 PM
GoodKarmaGuy GoodKarmaGuy is offline
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DOJ are going to have their hands full with these guys.

It will be easy for John to get support from the general public with his philanthropy from his good fortune. Comes across as genuine good guy and totally unlike the stereotype for the industry.

Guy has a shit load of money to fight this as well.
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Old 01-17-2007, 01:19 PM
buddyboy buddyboy is offline
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oh and as far as fitting the money laundering definition... the feds contend that a law was broken.

If a company accepts a bet from a person located in the State of NY that company is breaking the law. (cite JC's case)

1. Neteller collects money inside the US (ach's company)
2. Neteller sends these funds outside the US (ach company wires $$$ to candian bank)
3. Neteller funnels the funds to offshore book
4. Offshore Book breaks NY law by accepting bet from NY
5. Offshore Book sends Neteller proceeds of illegal act
6. Neteller sends proceeds of the illegal act back to the US

case closed
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Old 01-17-2007, 01:29 PM
GoodKarmaGuy GoodKarmaGuy is offline
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I also would've bet large that the high flyin' flamboyant put in your face billionaire,Calvin Ayre was the next guy to get nabbed. Not the Netteller guys.
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Old 01-17-2007, 02:56 PM
JohnGalt JohnGalt is offline
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The guy is very dangerous to society so the large bail is appropriate. Thank-you justice department for protecting me, you're the best.
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