2nd Jul 2007 09:40
NETeller PLC02 July 2007 NETELLER PLC (the "Company") UPDATE ON US SITUATION REGARDING FORMER DIRECTORS Monday, 2 July 2007 - NETELLER Plc (LSE: NLR), the independent global onlinepayments business, today issued the following statement regarding theannouncement on Friday 29 June 2007 by the United States Attorney's Office forthe Southern District of New York (USAO) regarding Mr Stephen Lawrence and MrJohn Lefebvre, two of the Company's former directors and founder shareholders. According to the USAO announcement, Mr Lawrence has pleaded guilty to a chargeof conspiracy in connection with his role in NETELLER's prior involvement inhandling financial transactions between gambling customers in the United Statesand offshore internet gambling businesses. In relation to this charge, MrLawrence also admitted to allegations requiring him to forfeit at least US$ 100million. The USAO further announced that the case against Mr Lefebvre is stillpending. Other than as shareholders, neither Mr Lawrence nor Mr Lefebvre has any currentposition with or connection to NETELLER. NETELLER is continuing to cooperate with the investigation being conducted bythe USAO, under the advice of its legal advisers and in accordance with courtorders in the Isle of Man. As announced on 4 June 2007, the Company is indiscussions with the USAO for the purpose of resolving the investigation and hasadvised the USAO that it will use its best efforts to resolve the investigationno later than 13 July 2007. The Company does not currently believe that thesedevelopments will delay its efforts to resolve the investigation by that date. The Company's ordinary shares will continue to be suspended from trading.Further information will be announced as and when it becomes available. Enquiries: Andrew Gilchrist, VP Communications + 44 (0) 1624 698 713NETELLER Plc Citigate Dewe Rogerson + 44 (0) 207 638 9571Sarah Gestetner/Sebastian Hoyle/George Cazenove If you have any further queries relating to the above, please contact theCompany's nominated adviser on +44 (0) 20 7991 8888. Notes to Editors The NETELLER Group Trusted by millions of consumers to transfer billions of dollars each year, theNETELLER Group operates the world's leading independent online payment business.The Group specialises in providing innovative and instant payment services wheremoney transfer is difficult or risky due to identity, trust, currency exchange,or distance. Being independent has allowed the Group to support thousands ofretailers and merchants in many geographies and across multiple industries. NETELLER Plc is quoted on the London Stock Exchange's AIM market, with a tickersymbol of NLR. NETELLER UK Limited is authorised by the Financial ServicesAuthority (FSA) to operate as a regulated e-money issuer. For more informationabout the Group visit www.neteller-group.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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