Articles under ‘payment processors’:

Payza’s Firoz Patel and wife pursued for millions in unpaid taxes

In addition to being a wanted fugitive on the run from money laundering charges in the US, Payza co-founder Firoz Patel is also in trouble with Canadian authorities.


Payza co-founder Ferhan Patel wants release, brother still at large

Despite initially consenting to detention, Payza co-founder Ferhan Patel wants out. In a Motion to Revoke Detention Order filed on April 19th, Patel has asked the court to either outright release him, or in the alternative allow him to stay with his brother-in-law in New York.


Payza terminate US payment processing, status of client funds unknown

The latest move by Payza co-founder and fugitive Firoz Patel, has been to terminate payment processor services to US residents. It appears now, like Patel, Payza itself is on the run from US authorities.


How are Payza continuing to provide payment processor services?

Within 24 hours of the Department of Justice and Homeland Security seizing Payza’s .com domain, the payment processor reemerged on a .eu domain. The “payza.eu” domain was registered back in 2012. Payza only activated in response to the domain seizure however on March 21st. Payza’s parent shell company PH Millars is listed as the owner [Continue reading…]


Payza website offline, domain seized by DOJ and HSI

US authorities have seized the Payza and AlertPay websites, as part of forfeiture in a $250 million money laundering case filed against co-founders Firoz and Ferhan Patel.


Inside Payza & the Patel brothers’ multi-million dollar criminal enterprise

The specifics of Payza’s business operations have always been murky. We knew the company was co-founded by brothers Firoz and¬†Ferhan Patel, Canadian citizens, who operated Payza via the UK shell company MH Pillars. Beyond that though specifics have been elusive… up until now. Following a federal indictment of the Patel brothers earlier this month, the [Continue reading…]


Payza co-founders indicted, facing $250 million money laundering case

For years Payza has been the defacto payment processor darling of the MLM underbelly. Founded by brothers Firoz and Ferhan Patel, who weren’t above personally promoting their partnership with Ponzi schemes, Payza was operated out of Montreal, Canada.¬†Both Firoz and Ferhan Patel are Canadian citizens. Earlier this month the Patel brothers were indicted by a [Continue reading…]


My Advertising Pays processor lawsuit dismissed

Last December the My Advertising Pays sued payment processor VX Gateway for $59.6 million dollars. The Ponzi scheme alleged VX Gateway was wrongfully withholding investor funds and sought recovery. VX Gateway opposed legal action in Texas and sought to the have the lawsuit dismissed in favor of arbitration in Panama. A decision was made on [Continue reading…]


PayPal sued for facilitating Traffic Monsoon Ponzi fraud

Known throughout the MLM underbelly for it’s prohibition of Ponzi and pyramid schemes, PayPal nonetheless still pops up as a payment processor for various schemes. The problem with PayPal’s current fraud detection mechanisms is that, by the time it’s detected, the damage has already been done or PayPal quietly freeze the account. No information is [Continue reading…]


Celia Dunlop ordered to reveal location (My Advertising Pays)

Last month My Advertising Pays filed a lawsuit against payment processor VX Gateway. According to My Advertising Pays, VX Gateway, Celia Dunlop and Timothy Mackay stole $59.6 million, money that My Advertising Pays in turn stole from affiliates through Ponzi fraud. The case is making its way through the legal system, with both parties currently [Continue reading…]