New York isn’t too happy with Feroz Patel’s efforts to keep Payza afloat. On October 24th the New York State Department of Financial Services issued Payza, founders Firoz and Ferhan Patel and associated companies MH Pillars, OboPay and MH Pillars with a cease and desist.
Articles under ‘payment processors’:
In an attempt to retain almost a million dollars fraudulently obtained through MOBE, Peoples Trust in Canada decided the preliminary injunction didn’t apply to them. This prompted a lawsuit against Peoples Trust by the MOBE Receiver, which is currently playing out in the Superior Court of Quebec.
A request from Qualpay to keep $6.3 million stolen from MOBE victims has been denied. The TRO in place against MOBE requires all funds related to the fraudulent business be turned over. Rather than hand over the $6.3 million it processed for MOBE, Qualpay instead sought an exemption from the TRO. The processor argued that [Continue reading…]
Firoz Patel’s Payza tax fraud bill has claimed to $15.2 million, following adjusted undeclared income of $26.2 million USD. Revenu Québec previously pegged Patel’s unpaid taxes at $10.8 million, however an ongoing investigation has revealed additional undeclared income.
Following his indictment earlier this year, Payza co-founder Firoz Patel went into hiding. Now, if a June 12th Facebook status update is to be believed, Patel has resurfaced in Quebec, Canada.
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.
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.
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.
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…]
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.