payment processors @ BehindMLM

Back in 2020 payment processor ePayments announced it was the subject of a freeze order. The freeze order was issued by the FCA, tying up over £100 million in client funds. Those funds are still frozen. Now ePayments has announced it’s shutting down.

Twelve Defendants in the TelexFree class-action filed motions to dismiss the latest Fifth Amended Complaint. Five motions were granted and one was partially granted, leaving six Defendants fully on the hook.

Typically an MLM Ponzi scheme launches with or switches to cryptocurrency to avoid financial regulation. Then there’s CashFX Group who, following two years of ongoing crypto withdrawal problems, have now convinced investors they’ll be paid through a debit card.

News broke of Allied Wallet executives being indicted on criminal charges last Friday. At the time I was unable to access what I believed was a sealed indictment. Sure enough a sealed indictment was filed on August 25th. Pending the arrest of three of the suspects, all of which were US-based, the DOJ requested the [Continue reading…]

Four Allied Wallet executives, including owner and CEO Ahmad “Andy” Khawaja, have been indicted on fraud charges. This latest round of indictments follows charges filed in 2019, as well as an FTC lawsuit detailing theft of $110 million.

Vida Divina is suing payment processor T1 Payments over a disputed $233,424 termination fee. Vida Divina is a California based MLM company run by Armand Puyolt. BehindMLM reviewed Vida Divina shortly after launch in 2016. On its website T1 Payments claims it “specializes in payment processing for high-risk industries”.

As per a January 6th order, MOBE’s non-consumer creditors were directed to file claims for payment consideration. As per a report filed by the MOBE Receiver on April 22nd;

Top Tradera earners have filed a lawsuit against the company’s payment processor, iPayout. Tradera was a trading signals MLM company.  Just shy of a fortnight ago Tradera’s owners, Kody Sell and Eastan Harris, pulled the plug and exit-scammed.

I held off reporting on the Payza case outcome as I wanted to go off the official case files. Pacer hasn’t updated yet but, courtesy of the Montreal Gazette, we know how the November 10th sentencing hearing went down.

The DOJ is requesting Payza victims to file a petition for remission. It should be noted upfront that there is no guarantee filing a petition will result in partial or full recovery.