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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.
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
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
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.
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
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