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June 29, 2007 at 9:14 pm #603603AnonymousInactive
Here’s some not so good news for the industry…June 29, 2007 at 9:29 pm #741168AnonymousInactive
@CGW 129543 wrote:
Here’s some not so good news for the industry…
looks like a plea bargainJune 29, 2007 at 9:42 pm #741171AnonymousInactive
Here’s the AP report on this case… This news is breaking so the story is still developing…June 29, 2007 at 9:46 pm #741173AnonymousInactive
I understand that he acknowledged that facilitating bets with offshore bookies was illegal and therefor plead guilty.
He agreed to be partially accountable for the 100 Million Dollars the government wants from people who were involved in the operation.
So its all about money again. He will likely pay and walk.
More here too: http://www.gamesandcasino.com/gambling-news/?itemid=569June 29, 2007 at 10:38 pm #741176AnonymousInactive
And at this wording:
Prosecutors read U.S. law differently, and charged Lawrence with violating decades-old acts prohibiting the use of electronic wires to send or receive information that facilitates illegal gambling.
word games – Illegal Gambling. What gambling is illegal because of the wire act? You got it, sportsbetting.
It all makes sense.
The Company announced yesterday that due to the ongoing investigation by the US authorities, the annual audited accounts for the year ended 31 December 2006 will not be finalised in time to send to shareholders by 30 June 2007. The Company can confirm that the outcome of the investigation is the sole matter delaying the finalisation of the accounts.
Therefor, the Company will not be able to comply with Rule 19 of the AIM Rules that requires an AIM company to send its accounts to shareholders not later than six months after the end of the financial year to which they relate. Consistent with its advice to the USAO to use its best efforts to resolve the investigation by no later than 13 July 2007, the Company is doing its utmost to finalise and post its audited accounts and to announce its full year results for the period ended 31 December 2006 to the market.
Hence, the Company’s ordinary shares will continue to be suspended from trading.
This hurts Neteller big time. Today Lawrence goes to court and pleads. BIG SURPRISE!
They got them by the balls and won’t let go until they get the 100 million they want.June 29, 2007 at 11:08 pm #741181AnonymousInactive
Don’t want to psycho-analysis too much, but it’s not all that bad. The reason why he pled guilty is probably so he wouldn’t lose all of his assets here in America. I would be willing to bet he will beable to retain all of assets under the plea agreement.
This can actually be good news on the UIGEA front. If there is any pending conplaint against the UIGEA and Gonzo at the DOJ from iMEGA (and anyone who read my post eariler knows I still have my reservations there is). This can be good news in any potential Stay or Repeal. One thing judges hate doing is overturing other Judges or impeading other cases by their rulings. A Judge may hesitate in allowing a Temporary Stay of the UIGEA if there are too many cases out there that are pending in regards to the bill. They would not want to put the law on stay, knowing other cases cannot proceed until their case is resolved. With the less cases out there that are affiliated with the passeage of UIGEA, the greater the chance the Judge in NJ’s 3rd district will issue a stay as iMEGA is asking for.
So it may not be all that bad news he pled guilty. I bet he won’t be doing any jail time, since no sentencing date has been released. That is yet another good sign.June 29, 2007 at 11:57 pm #741185AnonymousInactive
Hope everybody is square with there taxes. Our neteller account data should be handed over to the IRS pretty soon.. if it hasn’t already.
I can think of a few friends of mine who could get nailed for back taxes.June 30, 2007 at 12:47 am #741186AnonymousInactive
Taxes are not to be fooled with.
Always cross your Ts and dot your Is when it comes to taxes.July 1, 2007 at 4:48 am #741305triplecrownMember
@Dominique 129568 wrote:
Taxes are not to be fooled with.
Always cross your Ts and dot your Is when it comes to taxes.
I agree, if they can’t nail you for advertising casinos then they will go after you for tax evasion (Neteller etc.). That’s why I suggest filing your global returns. I even file every year as a us citizen in foreign country.July 2, 2007 at 11:38 pm #741458WineGuyMember
He just wants to get on with life, and new ventures.
He senses that online gambling will be legalized in the US soon, so he’s cutting his losses and wants to be ready for the next online gambling boom.