The British money transfer firm NETeller has pulled out of the United States gambling market Thursday, after two of the groups founders were arrested in the US earlier this week. They face up to 20 years in jail if convicted.
NETeller was the largest company of its kind processing billions of dollars in American gambling transactions every year. The closure to US gamblers will cost the company over 65% of its business. Trading on the London Stock Exchange has been frozen.
NETeller will allow all Americans to withdraw their money from their accounts, but will not process any gambling related transactions, effective immediately. They have also blocked Americans from opening new accounts.