Former U.S. Neteller account holders have given a large collective sigh of relief now that an exact date has been given as to when payments are likely to begin processing. Following Neteller's admission they were conducting "unlicensed" online money transmissions and facilitating "unlawful transactions" between online casino gaming sites and U.S. citizens, negotitations between the U.S. Attorney's Office and Neteller have apparently come to a settlement, and players should be receiving their frozen funds in the coming month.

According to reports out of the London Stock Exchange, the U.S. Attorney's Office has agreed to a deferred prosecution agreement in which Neteller will not be convicted of any federal charges. As in everything else, money talks. And in the case of Neteller, money walks as well. Neteller will be walking to the tune of $136 million, which the company has agreed to pay to the USAO by no later than January 17, 2008.

The $136 million forfeiture includes the $60 million already seized by the Department of Justice shortly after Neteller's former co-directors were arrested. The remaining $76 million balance will be split into two payments, with $40 due on or before October 15, 2007 and the remaining balance due of the aforementioned deadline. As for the money owed to Neteller's U.S. customers, the online eWallet has stated it expects to have all withdrawals processed by no later than July 30, 2007.

Of course, Neteller is not getting off that easy. Under the terms of the deferred prosecution agreement, Neteller has consented to fully cooperate with the U.S. Attorney's Office continued investigation regarding illegal transactions conducted on behalf of internet gambling merchants. In other words, the USAO is going to use Neteller as a tool in hunting down sports betting operators, poker rooms and maybe even online casinos - depending on the extent of the investigation.

London Stock Exchange reports show that Neteller intends to lift itself from the ashes and resume share trading on the Alternative Investment Market just as soon as their 2006 financial statement has been published. Although this particular report is being pensively anticipated by investors, the 2007 financial statement will be the most telling considering the $136 million forfeiture. And to put a further strain on Neteller, as of Thursday 12:01 a.m. GMT, the company announced it will no longer process transactions between Israeli citizens and online casinos, including all forms of internet betting, due to increased legal uncertainties in Israeli gaming policies.