Payment processing firm Neteller announced details for the return of around $60 million, which was seized by the US Attorney’s Office earlier this year, to its US customers.

No date has been set for the implementation of its agreed Distribution Plan, but Neteller said that it would be communicating further details to its customers via email, their website and through press releases once all the details are finalised.

Ron Martin, President and CEO called the agreement a ‘milestone’ in the company’s cooperation with the US authorities.

“While we are disappointed not to have been able to return funds to our US customers at this point,” he continued, “we believe that the steps we have made in our discussions are significant and we hope to be able to announce further progress with the USAO by 13 July 2007.”

Neteller’s said that its shares continued to be suspended from trading on AIM in view of the continuing uncertainties it faces, although progress is being made towards achieving restoration of trading.

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