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January-16-2007,
Neteller halts trading on the AIM...By Russ Hawkins

Neteller halts trading on the AIM

Money transfer giant Neteller said on Tuesday that Stephen Lawrence and John Lefevre were detained by US authorities sometime Monday.

NETeller, based out of the Isle of Man, is publicly traded on the London exchange (AIM) and states on their website they are "the world's largest independent money transfer business". The most recent annual report states that the company took in revenues of $172.1 Million.

Attempts to contact Neteller for comment where not immediately responded to other than one live chat Customer Service agent saying "What??????" when asked about the reports. This was immediately followed up by a statement to contact compliance@Neteller.com.

John Lefebvre, otherwise affectionately know as "Big John", in the industry, was know to travel regularly to the US to his wife?s birth place of Southern California, which is reason for his presence in the US and where he was arrested. Little is known , at this time, why or what Mr Lawrence was doing in New York, where he was apprehended.

Lawrence and Lefevre both stepped down as non- executive directors of Neteller as recently as May, 2006.

This news is in the wake of Pinnacle Sportsbook, one of the most popular US directed online sportsbooks, voluntarily announcement that it would be withdrawing from the US market, previously this week.

Neteller is a legal and licensed money processing company located in, and governed by, the Isle of Man. The announcement to halt trading on the London Stock exchange is pending a further press release by Neteller later in this trading day. Neither men have been charged with a crime. Currently, the only US law that Neteller is possibly breaking, is aiding and abetting illegal gaming

This story is breaking. Please continue checking in for updates.

by Russ Hawkins
MajorWager.com
russ@majorwager.com



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