Arrests of those involved with the online gambling business make waves

Prosecutors in the U.S. have arrested two business men who are executives of a company called NETeller, responsible for processing payments for online gambling websites. Most details of the arrest are unknown, but it was made clear that NETeller illegially handled and processed billions of dollars generated from online gambling.

NETeller founders John Lefebvre and Stephen Lawrence were arrested and charged with processing gambling proceeds. Prosecutors are looking to push for a maximum sentence of up to 20 years in prison. Many popular online gambling websites such as Full Tilt Poker, PartyGaming, Pokerstars and Sportingbet use NETeller to process payments from customers.

The days are limited for online gambling, however. Late last year, the U.S. government formally banned online in the U.S., making any company or website hosting such services online fully illegal. Some of the more prominent gambling sites such as the ones listed above have pulled or are pulling their businesses out of the U.S.

NETeller operated its business in the Isle of Man, away from U.S. jurisdiction, and allowed gambling companies to transfer money from their U.S. operations to offshore accounts.

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