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 NETeller Founder and former director John Lefebvre was granted bail after appearing in a Los Angeles Federal Court.
According to Rebekah Carmichael, press spokesperson from the US Department of Justice, "he will be released after satisfying the bail conditions of $5 million 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." Stephen Lawrence is currently in court in St Thomas in the US Virgin islands, attending an, "advice of rights" hearing. Both men are charged with money laundering and tax evasion from their roles at NETeller. The news of the bust sent shockwaves throught the online gambling industry minutes after Gambling911.com broke the story Monday Night. The investigation of NETeller was started in June 2006, and industry insiders believe that this is the first major fall out from the BetonSports bust. David Carruthers, the CEO of BetonSports PLC, was picked up in July 2006 while on layover in the Dallas/Fort Worth airport. Carruthers was traveling between London and Costa Rica at the time of his arrest. He is currently awaiting trial in Missouri on money laundering and tax evasion charges. The unsealed indictment against the founders lists information about BetonSports as well as information from NETeller's filings with the London Stock Exchange. Both defendants are being directed to appear in this district on January 26, 2007, though this is subject to change. |
Operators out of Costa Rica are reporting that NETeller could abandon the US market completely as soon as tonight. Online gambling websites are racing to reconcile their NETeller merchant accounts. Operators that are heavily dependent on NETeller as their primary merchant could have serious issues sending and receiving funds to clients. 
The Chicago Bulls (22-17) make the short trip up to Milwaukee tonight with hopes of extending their winning streak to three when they play the Bucks (17-20) in a game between NBA Central Division Rivals. Tipoff is at 8:30 p.m. EST.