On July 10th John David Lefebvre, co-founder of the payment processor, NETeller, plead guilty to criminal conspiracy charges that were filed against him and his partner earlier this year.  Lefebvre plea was made in a US District Court in Manhattan.  

Lefebvre’s partner and fellow Canadian, Stephen Lawrence, plead guilty to the same charges 2 weeks ago.  The two men, who could face up to 5 years in prison, have both agreed to co-operate with prosecutors and to testify should it be necessary.   

Their co-operation, along with an agreement that holds both men partly responsible for the $100 million that is being sought by the US government in restitution, will likely aid the pair in regards to their sentencing.  It is thought that the 5 year prison sentence will likely be reduced, if they are to be sentenced to prison at all.  

Lefebvre, who founded NETeller alongside Lawrence in 1999, is no longer an active member on his companies Board.  NETeller, which facilitates monetary transactions for online customers and businesses, focused a large part of their business towards online gambling transactions.  

But when the US announced a crackdown on Online gambling activities in their country last fall, it only meant trouble for NETeller, who had a huge client base of US citizens.   And in January of this year, NETeller was forced to stop handling transactions from all US customers after Lefebvre and Lawrence were both arrested as a result of this crackdown. 

Additional News Related to Neteller:

• NETeller Co-Founder Stephen Lawrence Pleads Guilty
• Online Payment Processor Launches New & Improved Debit Card