Lefebvre follows with guilty plea in U.S.

NETeller co-founder John Lefebvre entered a guilty plea in Federal District Court in Manhattan yesterday on charges of conspiring to transfer funds with the intent to promote illegal gambling, according to the New York Times.

The plea comes just two weeks after co-founder Stephen Lawrence chose to enter a guilty plea and cooperate with authorities rather than fight the charges.

Lefebvre's plea deal is similar to Lawrence's in that he agreed to cooperate with prosecutors and testify if necessary and will be partly responsible for the $100 million the government is seeking in restitution.

Lefebvre and Lawrence were both arrested on the same day in January, and have been free on $5 million bonds awaiting charges since then.

With the pleas, they face a potential prison term of up to five years.

NETeller itself also came under attack as the U.S. government froze the U.S. customer accounts that were being used for online gambling transactions.

The government is trying to put a stop to companies that operate overseas and allow U.S. customers to transfer money for online gambling. NETeller has since shut its doors to online gambling transactions from U.S. customers, and has been cooperating in the case as well.

courtesy of Sarah Polson

News Added: 11 July, 2007

Number of views : 858