Neovia gets all clear from US authorities for UIGEA breaches
Neovia Financial has had the threat of US legal prosecution removed after the expiry of its Deferred Prosecution Agreement (DPA) from the US Attorney's Office for the the Southern District of New York.
NEOVIA Financial has had the threat of US legal prosecution removed after the expiry of its Deferred Prosecution Agreement (DPA) from the US Attorney’s Office for the the Southern District of New York.
The online payments business had its prosecution deferred after Neovia, then trading under the name Neteller, agreed to forfeit US$136m in July 2007 after admitting to operating an “unlicensed money transmitting business” and participating in the promotion of “unlawful transactions” between gaming operators and their customers in the US. Neteller also agreed to “cooperate fully with the US authorities in all matters relating to the ongoing investigations by the USAO”.
The deal followed the arrest of Neteller directors Stephen Lawrence and John Lefebvre in January that year.
Neovia has now received a copy of the Notice of Dismissal of the Complaint filed against it in this matter in the United States District Court for the Southern District of New York.
The Company has complied with the DPA and will no longer be subject to oversight by the Monitor appointed pursuant to the DPA, Neovia said in a statement.