Neteller account holders in the US have been told that they will finally gain access to their frozen funds.
The world’s largest independent online money transfer business said it has reached an agreement with the US Attorney’s Office for the distribution of approximately US$60m to account holders in the country.
While account holders will soon be able to withdraw their funds, it wasn’t the news many have been waiting for.
Investors will be disappointed to learn that the company’s shares, suspended on the London AIM since January this year, are to remain in limbo for the foreseeable future.
US players have received little in the way of good news either, as they were told interest on their frozen funds will not be paid by Neteller - and this will be an especially hard blow for the players with large account balances.
"The agreement on the distribution plan represents a milestone in our co-operation with the US authorities," said Ron Martin, group president and CEO.
"While we are disappointed not to have been able to return funds to our US customers at this point, we believe that the steps we have made in our discussions are significant and we hope to be able to announce further progress with the USAO by July 13, 2007."
