Payment Processor Neteller cuts deal with the US
Online payment processor Neteller has struck a deal with US authorities that will see the firm forfeit $136m to avoid a prosecution related to its handling of online gambling proceeds. The two founders of Neteller - Stephen Lawrence and John Lefebvre - were charged with conspiracy as it was being used by US citizens to place bets through foreign-based internet gambling sites. The company (Neteller) has reached a deferred prosecution agreement with the US Department of Justice, under the terms of which it admits – the error of its ways - and has agreed to co-operate with authorities in return for a lighter penalty. This Is a agreement - as Neteller will tell US authorities all it knows about the gambling industry. As it processed payments for 85% of online gambling firms, it may have a lot to tell. 
The US gambling ban has hit the industry hard, with many firms losing much of their value, while the US authorities have been keen to build cases against the management of these firms. Some Democrats are attempted to revoke the ban. If a future US government chooses to legalise online gambling once more, it will be interesting to see whether these fines will be handed back.