London - Neteller, an online payment processor that served 85% of the Internet gambling industry until certain of its assets were frozen by the U.S. Justice Dept. (DOJ), announced that it has signed an agreement with the DOJ that will allow millions of dollars to be returned to its former U.S. customers.

The asset seizure followed the arrests of Canadian Neteller founders John Lefevbre and Stephen Lawrence in January in the U.S., on charges the company acted as a middleman that enabled U.S. citizens to gamble on Internet sites based overseas.

Neteller, which is based in the Isle of Man and listed on the London Stock Exchange, said it expects to announce a plan within 75 days by which it will return some $55 million to its one-time U.S. customers.

"We continue to be committed to returning funds to our U.S. customers and working with the U.S. Attorney's Office," said Neteller president and CEO Ron Martin. "Progress, while not always visible to the outside observer, has been steady and these agreements mark a milestone in the process."

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