Electronic Clearing House Inc. will not face prosecution for its role in processing payments for online casinos.
The Camarillo, Calif., company said Tuesday that it was acting as a witness in an investigation by the U.S. Attorney's Office for the Southern District of New York, but it did not give further details about its involvement.
Prosecutors announced Wednesday that from 2001 until the start of this year Echo transferred funds "on behalf of various online payment" companies, known as "e-wallets," which "handled - almost exclusively - illegal transactions with online gaming Web sites."
Echo began shutting this service down in October and has been cooperating with investigators, and the U.S. Attorney's Office concluded that "criminal prosecution of Echo would not serve the public interest."
