NETeller Suspends Trading After Two Major Shareholders are Detained in US

LONDON – As reported by Reuters: "U.S. authorities detained two former directors and founding shareholders of NETeller Plc (NLR.L), the UK online money transfer firm said on Tuesday, adding
  it had requested the suspension of trading in its shares.

"Stephen Lawrence and John Lefebvre were detained on Monday while travelling separately in the United States, NETeller said, becoming the latest victims of the U.S. crackdown on Internet gaming.

"It said neither Lawrence nor Lefebvre had any current connection to the company other than as shareholders.

"'The group has not received any communication or correspondence from any U.S. authority regarding this or any related matter,' it said. 'Pending clarification of the situation the board has sought immediate temporary suspension of NETeller's shares.'

"Shares in the Isle of Man-based company, which has grown fast with the rapid rise in online gambling, closed at 176 pence on Monday, valuing it at around 211 million pounds ($415.4 million).

"The shares have fallen 60 percent since early September, hit by the arrests in the United States of executives from British companies involved in online sports betting and the passage in October of a U.S. law barring banks from transactions involving Internet gambling…."