Neteller`s chairman leaves the post

Bad news for Isle of Man e-wallet

After the end of the week the Isle of Man e-wallet received sad news. What is news, you`ll certainly ask. So the executive chairman of the company Gord Herman retired for to concetrate on his personal matters. He will be also replaced by non-executive guide Dale Johnson as non-executive chairman, both with immediate effect.

For Neteller it had been also a bad week. The cause of that was it`s president`s John Lefebvre desicion to gain his fellow president whose name is Stephen Lawrence in pleading guilty to US conspiracy charges which is relatrd to the company, and another bad new that FTSE wanted to remove its suspended shares from its indices. As you see there is to much bad news for the company during the week.

Maybe in an attempt to lower the influence the highly respected Herman`s departure, the company said it is sure it is making considerable progress towards resolving the US Attorney`s.Office probe into the alleged violation of US web-based gambling laws "by its former directors," and expects to make an announcement which is regarding this "within a number of days".

By accident for US players July 13 turned out to be the target day, by which they expected to be paid out their frozen funds by the e-wallet - that, too will now lie in the power of how soon a resolution can be come to an agreement with the DoJ. By the way since January the monies in player accounts have been frozen and it`s not surprising that Netyeller has already proposed that it will not be paying interest.

Neteller also considers that it`s possible to renew trading of its shares on AIM when it will lie in the power of the resolution of the investigation within a short time frame and finalisation and also publication of its audited annual accounts for 2006 year. Why not ?

And how it`s said in a famous phrase "Many of life`s failures are men who did not understand how close they were to success when they gave up"