Class Action Forming Against Neteller?

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This time it looks as if US players with frozen funds intend to act.

With funds frozen without interest since early this year, it is not surprising that US players are fast losing patience with the Isle of Man-based e-wallet Neteller, which has still to meet its commitment to pay out players with monies in deepfreeze.

For some months many US players have gathered on a Yahoo! group message board to share information and come up with ways out of their predicament. A significant number of players have very large deposits stuck in the e-wallet, and the apparent inability of Neteller to deliver on its promises in this regard thus far has tempers on a short fuse.

The issue has been exacerbated by strong suspicions that the group has been infiltrated by elements urging that no action be taken, leading this week to the following notice on the forum:

IMPORTANT: YOU WILL NOT BE APPROVED AS A MEMBER OF THIS LIST UNTIL YOU HAVE VERIFIED YOUR CONTACT INFORMATION AS REQUESTED ON THE WELCOME EMAIL. You can contact us at [email protected]."

There follows information on a new group of U.S. Neteller members who are willing to participate in a class action lawsuit as plaintiffs against Neteller, effective July 13, 2007.

The advisory continues: "If you are as discouraged and disheartened by recent news as many of U.S. Neteller customers are, you came to the right place. I have $15,000USD in Neteller and many others have more and less. You are all welcome to join our lawsuit; we need your support to succeed.

"Our initial membership in the first phase is 150 members. Going forward, we will open the lawsuit to all US Neteller customers once we have established momentum securing a legal fund and international representation.

"The mission of this group is to put an UNPRECEDENTED amount of pressure on Neteller into paying us our confiscated funds back.  "Each member will contribute to our legal fund which will finance retention of a qualified law firm to represent our interests as described here. Our lawsuit will seek damages for principal, interests, attorney fees to be awarded, and other damages. Each member should be ready to invest in order to participate in this suit which we will try to recover in settlement or as attorney fees.

The amount you submit will depend upon how much you have in Neteller. We are currently developing this formula and will release it shortly. We want to make certain it’s affordable for everybody to join (especially members with 1k to 3k in their accounts) while being a large enough fund to finance our litigation."