NETeller Pleads Guilty

Stephen Lawrence, a founder of NETeller has pleaded guilty to a charge of conspiracy regarding the handling of billions of dollars from gambling proceeds. Though the online gambling world was rocked by the US government’s decision to ban Internet Gambling last year, it is only now that concrete steps are being taken to ensure the enforcement of the act.

Lawrence is facing up to 5 years in prison for his role in the operation of the well known payment processor company. Another NETeller key person, co-founder and president John Lefebvre, has charges filed against him. In his case, though, matters are still pending. Lawrence is set for sentencing in October. In the meantime, he is allowed to travel within the United States, Canada, and the Bahamas.

This is a positive development for the government as they continue to strengthen the enforcement of the bill. For avid online gamblers, though, it may spell the start of a disaster. A company as big as NETeller being charged with such is a big blow to the online gambling industry. It seems that the US government is indeed serious in its effort to curb the online activity of gambling enthusiasts and that they will not pull any stops in doing so.

Late last year and even early this year, there has been a lot of activity from pro online gambling movements in protest to the gambling act. There is no clear sign that these activities have made any effect though, especially with the arrest of key online gambling executives.

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