Neteller is a financial services company operating from the Isle of Man and regulated in the United Kingdom. It was founded in 1999. Since 2004 Neteller has been listed on the London Stock Exchange. In November 2008 Neteller change its name to Neovia Financial PLC, mainly as a signal of breaking away from the past. 2007 had been a bad year for Neteller. In January two of its former executives and major stakeholders were arrested in the United States by the Department of Justice on charges of transferring funds to promote illegal online gambling activities. Neteller withdrew its services from the American market and in July 2007 it reached a financial settlement with the Department of Justice to avoid further prosecutions.