Sunday, April 22, 2007

NETeller Hearing Dealyed Again... So What's New??

Delay number four occurred this week in the case brought by the United States against the founders of NETeller, Steve Lawrence and John Lefevbre. This time the hearing was kicked back from April 16th to May 16th, assuring that for the meantime, exactly nothing is happening in this case.

In objective terms, however, the truth is that the longer this case languishes, the greater the likelihood that nothing will come of it when the next focal point is reached. To this date Lawrence and Lefebvre have still not been officially charged in the money-laundering case, and given the United States' recent setbacks in international courts, it's quite possible that the government is looking for the best face-saving way to get themselves out of the situation, assuming the chances of convictions for Lawrence and Lefebvre are becoming longer by the day.

Or maybe not, but pro-gambling forces do have increased cause for hope.

If you have funds in NETeller, they are (in theory) still there. The delay in the Lawrence/Lefebvre matter should be independent of NETeller's own difficulties in repatrioting money to U.S. accountholders, but of course, we know that's really not true. The situation seems to be the equivalent of the Gordian knot, and we're all just waiting to see who plays Alexander and slashes the thing into pieces.

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