There have been two arrests of the founders of Neteller.com. Neteller is the publicly traded company that is reponsible for the majority of the billions of dollars worth of transactions that take place in the online gambling arena. It is the leading online payment processor to the gambling segment, the equivalent of what Paypal is to eBay. More information is available at http://www.gambling911.com/NETeller-Founders-Arrested-011607.html

Recent developments include a District Attorney’s statement:

Michael J. Garcia, the United States Attorney for the Southern District of New York, and Mark J. Mershon, the Assistant Director in charge of the New York office of the Federal Bureau of Investigation, announced today that Stephen Eric Lawrence and John David Lefebvre were arrested yesterday in connection with the creation and operation of an Internet payment services company that facilitated the transfer of billions of dollars of illegal gambling proceeds from United States citizens to the owners of various Internet gambling companies located overseas.

This is huge news for the online gambling industry and there has been a large number of people speculating that Neteller will pull out of the US market in the next few days.

Neteller has suspended trading of its shares today on the London Stock Exchange.

One thing I’d like to say is don’t panic - the full details behind the arrests aren’t clear yet and this may come to absolutely nothing. Neteller made a statement after the UIGEA was passed stating that the money of US customers will be safe regardless of the outcome, and will be available to withdraw even if Neteller does pull out of the US market.