John David Lefebvre, cofounder of NETELLER, pleaded guilty to the charges brought against him by the United States Attorney's Office of Southern New York. Cofounder Steven Lawrence did the same about two weeks ago.
Lefebvre pleaded guilty to the following: using the wires to foster interstate and foreign bets, conducting an illegal gambling business, engaging in illegal financial transactions for the purpose of promoting gambling, and operating an unlicensed money transmitting business.
He faces up to five years in prison, a $250,000 fine, and also will have to pay a portion of $100 million that the government seeks in restitution from Lawrence, Lefebvre, and NETELLER. Lefebvre's sentencing hearing will take place Oct. 29.
Lefebvre's guilty plea is an important step to online poker players whose money was seized after charges were made against Lawrence, Lefebvre, and NETELLER in January. NETELLER told its shareholders and current U.S. customers that it negotiated with the government to have the seized money returned.
In June, the company said a plan was in place to have the funds returned, but that it would have to wait until after the case was settled with the government. It gave a July 13 target date to have the investigation settled. Once the investigation is complete, NETELLER says the funds will be returned.
With Lefebvre's guilty plea, it looks like the company is on track to meet its self-imposed July 13 deadline. Concerned U.S, poker players with funds locked up by this case should expect an announcement from NETELLER soon.
