World’s largest law firm to advise Neteller in their fight with the US Department of Justice

by Lou on March 10, 2007

According to the publication “Legal Week,” London-based Clifford Chance, the largest law firm in the world, has been retained by Neteller to advise them on the ongoing investigation by the US Department of Justice (DoJ).

Clifford Chance has regulatory and securities teams on hand in New York and London to support Neteller in their discussions with the DoJ, which froze the payment processor’s funds a month ago.

Regulatory specialists and white-collar crime experts from within the firm are also advising Neteller in the US while UK equity capital markets experts are working closely with Neteller in the UK, where the company had its stock listing suspended last month.

Another team is working closely with Neteller on its obligations to the UK’s Financial Services Authority (FSA), an independent body with a wide range of rule-making, investigatory and enforcement powers aimed at promoting efficient, orderly and fair markets and to help retail consumers achieve a fair deal.

All of this came about following the arrests of Neteller’s two Canadian founders, John Lefebvre and Steven Lawrence on racketeering and money laundering.

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