Neteller Reeprts $24.7m Revenue Loss
Wednesday, August 29th, 2007Online payment provider Neteller posted a first-half pre-tax loss of $24.7 million after being forced to close it US facing business. Revenues declined 57 per cent, to $50.8 million, for the period.
Speaking about the ongoing legal problems it was facing in the United States, chief executive Ron Martin said that US authorities had already seized $60m of the $136m it had agreed to forfeit as part of a deferred prosecution agreement, while the rest would be paid our of money generated by the business in two installments.