U.S. Funds Still in Neteller Limbo

Troubled e-wallet Neteller announced in June that, working with the United States Attorney’s Office (USAO), it had come up with a plan to distribute frozen funds back to its U.S. customers.  The company had targeted July 13 as the date by which it would let its customers know the exact process by which they could retrieve their money.

Unfortunately, like all things related to Neteller these days, it hasn’t quite worked out as desired.

Neteller announced Friday that because the USAO investigation is still ongoing, the distribution plan cannot be put into action yet.  Thus, the millions of dollars that belong to U.S. customers will have to remain frozen.  The company said that it “hopes to be able to announce this (the distribution plan) within a number of days.”

Neteller also confirmed the resignation of Gord Herman as Executive Chairman and Director of the Company for personal reasons.  Dale Johnson, non-executive director, has been promoted to Herman’s position.