Neteller, one of the biggest payment processing companies, which provides gambling accounts to online players, has closed its U.S. online gambling services today.
This action comes following the arrest of two of Neteller's founders, Canadians Stephen Lawrence, 46, and John Lefebvre, 55, who have been charged with transferring billions of dollars in illegal gambling proceeds to overseas gambling sites. They face a maximum sentence of 20 years in prison.
U.S. Attorney Michael Garcia said the men knew that their company's activities were illegal when they took their company public.
The United States represents more than 65 percent of the company's business. Neteller said that after the anti-gambling law was passed in the United States in November, it had experienced slowing fourth quarter growth.
Neteller insisted today that its withdrawal from the US market is the result of months of careful planning.
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